FedEx logo on a skyscraper facade reflecting clouds. Editorial 3D rendering


FedEx Corporation (NYSE:FDX) stock traded in a volatile manner after hours on Tuesday after notching a surprise beat on the bottom line for Q2, but offering light full-year forecasts.

The Memphis-based transportation company posted $3.18 in earnings per share for the fiscal second quarter on $22.8B in revenue. The analyst consensus expectations stood at $2.83 and $23.72B, respectively. Lower global volumes for the Express business was cited as a particular headwind for the company, offsetting some of the cost-saving initiatives pursued by the company…

The full post is here.

(Also of interest: “ETFs to watch ahead of FedEx earnings“.)

––> CNBC wrote: “FedEx earnings sink as soft demand persists“.

––> The official statement is here: “FedEx Corp. Reports Second Quarter Results“.

In his prepared remarks, CEO Raj Subramaniam said:

“The FedEx team moved with urgency to make rapid progress on our ongoing transformation while navigating a weaker demand environment. Our earnings exceeded our expectations in the second quarter driven by the execution and acceleration of our aggressive cost reduction plans. At the same time, we continue to focus on delivering excellent service for our customers.”

FDX closed at $164.35, down 2.62%, today in a flattish market. The results, released in after-hours trade, were well received initially, with FDX changing hands at $170.29 (+3.61%) in the wake of the fiscal Q2 update. 

Conference call due shortly.

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