Comment / FedEx's earnings dazzle – yet Memphis will be soon tested on every promise

ID 162405745 © Adil Celebiyev | Dreamstime.com

In a nutshell: The T&L integrator just beat estimates by a mile. Now it has to execute a Freight spinoff; a network overhaul hitting 65% capacity; and a pilot contract crisis.

When I wrote about FedEx’s ’Death by a thousand cuts’ strategy in early February, the financial picture had already improved, its fundamentals steadily progressing in the right direction. Two months, one Investor Day and one earnings report later, it looks positively rosy – at least from the C-suite.

Big beat

Sell-side consensus ...