FedEx eyes fiscal 2025 profit just above Wall St target, shares soar
How did FedEx's fourth-quarter revenue compare to analysts' estimates?
FedEx's fourth-quarter revenue was $22.1 billion, which was slightly above analysts' estimates of $22.06 billion. The company reported revenue growth of 1% from the year-ago period.
How much did FedEx shares jump in extended trading?
FedEx shares soared by 14.2% in extended trading following the announcement of their better-than-expected quarterly earnings and cost-cutting initiatives. The company reported a revenue of $22.1 billion for the fiscal fourth quarter of 2024, up from the previous year and slightly above analysts' expectations.
What profit does FedEx forecast for fiscal 2025?
FedEx forecasts fiscal 2025 profit above analysts' estimates, targeting earnings of $20 to $22 per share. The midpoint of this range is slightly above analysts' estimate of $20.92. The company plans to cut costs and consolidate operations to bolster returns despite weak demand for package deliveries.