By Lisa Baertlein
Feb 12 (Reuters) – Global delivery company FedEx said on Thursday adjusted earnings for the current quarter would top Wall Street’s average estimate and set growth targets through its fiscal year ending in May 2029.
Earnings for its third quarter ending February 28 will exceed analysts’ consensus forecast, FedEx said ahead of its annual investor day in Memphis, where it is headquartered. FedEx used FactSet’s $4.01 per share average estimate for that comparison.
In December, FedEx said its third-quarter earnings per share would fall below the second quarter’s reported $4.82 per share.
FedEx also set financial targets for fiscal 2029, including consolidated revenue of $98 billion, operating income of $8 billion and an operating margin of 8%. Those forecasts exclude FedEx Freight, which the company is preparing to spin off on June 1.
For fiscal 2025, FedEx reported revenue of $87.9 billion, adjusted operating income of $6.12 billion and an adjusted operating margin of 7%.
Shares in FedEx rose 1.6% to $372.93 in early trading.
(Reporting by Lisa Baertlein; Editing by Jamie Freed and Emelia Sithole-Matarise)
Comments