Parcel and cargo delivery company FedEx (NYSE: FDX) will be reporting earnings this Tuesday after market hours. Here’s what to expect.
FedEx beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $22.16 billion, up 1.9% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and a miss of analysts’ EPS estimates.
Is FedEx a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting FedEx’s revenue to decline 1.3% year on year to $21.82 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $5.85 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FedEx has missed Wall Street’s revenue estimates six times over the last two years.
With FedEx being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for transportation and logistics stocks. However, investors in the segment have had steady hands going into earnings, with share prices flat over the last month. FedEx is up 3.3% during the same time and is heading into earnings with an average analyst price target of $272.16 (compared to the current share price of $226.97).
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