US retailers look to consumers to save an industrial sector in the doldrums
US consumers are expected to step into the breach again to generate higher volumes of ...
SEEKING ALPHA writes:
– FedEx (NYSE:FDX) trades lower even after FQ4 revenue and profit arrived ahead of expectations. Guidance for capital spending of $7.2B this year by the company may be the key pullout of the report.
– Operating income rose 9% Y/Y to $1.97B during the quarter on an adjusted basis and the company reported an operating margin rate of 8.7% vs. 5.2% a year ago and 8.9% consensus. Improved network optimization and asset utilization enabled profit growth even with volume at a record.
– FedEx Ground reported revenue growth of 27% for the quarter. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package.
To read the full story, please click here (free reg. is required).
FDX stock down 4.4% on Thursday in after-hours trade.
The earnings call transcript is here (free reg. is required).
You may also want to read this FDX-related piece: “Labour woes weigh on 2022 outlook“.
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