Company News: FedEx (FDX) quarterly earnings miss analysts’ estimate

Market news

18 September 2018

Company News: FedEx (FDX) quarterly earnings miss analysts’ estimate

FedEx (FDX) reported Q1 FY 2019 earnings of $3.46 per share (versus $2.65 in Q1 FY 2018), missing analysts' consensus estimate of $3.83.

The company's quarterly revenues amounted to $17.052 bln (+11.5% y/y), generally in-line with analysts' consensus estimate of $16.879 bln.

The company also raised its FY2019 EPS guidance to $17.20-17.80 from a prior guidance of $17.00-17.60 (versus analysts' consensus estimate of $17.39) and reaffirmed FY2019 revenue guidance at +9% y/y to ~$71.34 bln (versus analysts' consensus estimate of $70.94 bln).

FDX fell to $250.79 (-1.93%) in pre-market trading.

The U.S 10-year Treasury note yield was unchanged at 3.000%, near a more than a three-month high, the 2-year note yield was flat at 2.786%, hovering at around a decade-long high

Beijing likely to cancel trade war talks after Donald Trump ups the ante with tariffs on US$200 billion of goods - scmp.com

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