FedEx Earnings Report

FedEx Earnings Report

FedEx Corporation is expected to report earnings on 17.03.2020 after market close. The report will be for the fiscal Quarter ending February 2020. According to the forecast of 8 analysts, the consensus earnings per share (EPS) for the quarter is $1.69. The reported EPS for the same quarter last year was $3.03, as seen on nasdaq.com.

Until now, FedEx had a tough time with stocks falling 40% over the past year. Shares have been battered by the U.S.-China trade war, the slowdown in global industrial activity and the battle for last-mile e-commerce delivery volume with Amazon.

Even if the analysts compiled by nasdaq.com are predicting a $1.69 EPS, according to analysts polled by Bloomberg, FedEx is expected to report adjusted earnings of $1.43 per share on $16.92 Billion in revenue. Shares of the freight giant underperformed the market’s 21% decline until now.

Analysts are following the company’s guidance. Management originally said that the company would earn about $13.50 a share in comparable earnings per share in 2020. That fell to about $12 a share after the fiscal first quarter number and roughly $11 a share after fiscal second-quarter numbers.

Due to Coronavirus pandemic, the demand for Europe and U.S.A. is now falling, but the Chinese airfreight and shipping volumes are getting back to normal. That’s good news considering the fact that new Coronavirus cases diagnosed daily in China have been constantly decreasing, now under 100, showing signs that the Chinese government is on top of things and Chinese economic activity might pick up.


Sources: barrons.com, nasdaq.com, yahoo.com

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