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FedEx Delivers Q4 Earnings Beat; Sees Ongoing Momentum

Stock MarketsJun 25, 2021 04:59
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By Yasin Ebrahim

Investing.com - FedEx (NYSE:FDX) reported Thursday fourth-quarter results that beat analysts' forecasts, driven by strong package services demand and the delivery firm painted a rosy picture about ongoing momentum into its new fiscal year.

FedEx shares lost 1.93% in after-hours trade following the report.

FedEx announced earnings per share of $5.01 on revenue of $22.6 billion. Analysts polled by Investing.com anticipated EPS of $4.97 on revenue of $21.46 billion.

Volume growth and disciplined revenue and portfolio management were partially offset by costs to support strong demand, increased variable compensation expense, and higher labor rates.

Looking ahead, FedEx forecast EPS in the range of $20.50 to $21.50 for the full year, above Wall Street consensus of $20.48 consensus.

"We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns," said CFO Michael Lenz.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

FedEx Delivers Q4 Earnings Beat; Sees Ongoing Momentum
 

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