FedEx Beats Earnings
FedEx posts strong fiscal fourth-quarter earnings, beating Wall Street expectations on the top and bottom lines
FedEx posted strong fiscal fourth-quarter earnings on Tuesday in the company's last quarter that included the freight business before its spin off. FedEx Freight spun off into a separate publicly traded company on June 1. The company said it saw a 3% year-over-year increase in domestic volume. FedEx on Tuesday reported earnings that beat Wall Street expectations on the top and bottom lines.
The earnings report marked the last quarter that includes the company's freight business, which spun off into a separate publicly traded company called FedEx Freight on June 1. 1 billion to FedEx Corporation in connection with the spinoff. Shares of FedEx dipped roughly 4% in extended trading. 31 adjusted vs.
01 billion vs. 75 billion. S. priority volume.
88 per share, in the year-ago period. 31. 9 billion the year prior. "Our profitable growth strategy is working," CEO Raj Subramaniam said in a statement.
"We are building momentum across our global industrial network, driving structural improvements and winning in high-value growth markets. " The company also said it will now change its fiscal year end from May 31 to Dec. 31, effective earlier this month. 10.
43 billion this year, marking a 66% jump. S. pricing rise 10%.