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FedEx $FDX surges on earnings, guidance beat; board approves new buyback plan https://t.co/Hq4yjJo6ZK https://t.co/fVnzdfaFXy
FedEx beat Wall Street’s third-quarter profit expectations and narrowed its full-year forecast after seeing results from cost-cutting efforts https://t.co/KFtTOluMhV
The Fed Ex turn is working. Raj is driving some great cash generation and expense cuts while waiting for a resurgence, if it can make this much now, i say WOW
FedEx announced its third-quarter earnings, surpassing Wall Street's profit expectations but falling short on revenue forecasts. The company reported an adjusted EPS of $3.86, beating the estimated $3.46, on revenues of $21.7 billion, slightly below the expected $22.05 billion. Additionally, FedEx has launched a new $5 billion share repurchase program and expects to buy back an additional $500 million of stock during the fiscal fourth quarter. The company has also narrowed its full-year earnings outlook, now expecting an adjusted EPS of $17.25 to $18.25, adjusted from the previous forecast of $17 to $18.50. This financial performance comes amid FedEx's cost-cutting measures, which have begun to show results.
