New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 18, 2014
11:42 EDTFDX, UPSFedEx hits 52-week high after results top expectations
Shares of package delivery company FedEx (FDX) hit a fresh 52-week high after the company's fourth quarter results beat analysts' consensus estimates. WHAT'S NEW: This morning, FedEx reported Q4 earnings per share of $2.46 and revenue of $11.8B, topping analysts' consensus estimates of $2.36 and $11.66B, respectively. The company posted Express segment revenue of $7B vs. $6.98B last year, Freight segment revenue of $1.55B-$1.39B last year and Ground segment revenue of $3.01B vs. $2.78B last year. The company said Ground average daily volume grew 8% in the quarter, primarily driven by growth in e-commerce. WHAT'S NOTABLE: The company forecast fiscal 2015 EPS of $8.50-$9.00, compared to consensus of $8.76. This outlook assumes continued moderate economic growth. Capital spending for the year is expected to be around $4.2B. CFO Alan B. Graf, Jr. expects FY15 results to benefit from "base performance improvement and ongoing execution of our profit improvement initiatives at FedEx Express, continued profitable growth at FedEx Ground and FedEx Freight, and our share repurchase program. We remain committed to improving earnings, cash flows, returns on invested capital and returns to shareowners, with the most recent example of the latter being our announced 33% increase in the quarterly dividend." On its earnings conference call, FedEx said it anticipates revenue and earnings growth from ongoing improvements in all of the company's transportation segments with moderate global economic growth driving volume and yield increases. Its goal is to achieve annual double-digit operating margins for the total company in the near future. The company sees U.S. GDP growth for calendar year 2014 of 2.2%. FedEx expects to complete its share repurchase program this year and said it is "always" looking for acquisitions. PRICE ACTION: In late morning trading, FedEx rose $6.53, or about 4.7%, to $146.86 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $147.90. Including today's advance, the stock is up approximately 47% over the past 12 months. OTHERS TO WATCH: FedEx's main competitor, United Parcel Service (UPS), is up about 0.5% to $102.12.
News For FDX;UPS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 26, 2015
18:40 EDTFDXFedEx solicits EU approval for TNT bid, Reuters reports
Subscribe for More Information
June 22, 2015
07:39 EDTFDXFedEx management to meet with Deutsche Bank
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use