Before the opening bell on Wednesday, FedEx (FDX ) reported a 53% increase in third quarter profits, due to lower fuel costs and favorable weather conditions.
FDX's Earnings in Brief
- FedEx reported earnings of $580 million, or $2.01 per share, up 53% from $378 million, or $1.23 per share, last year.
- Revenue rose 4% to $11.7 billion from $11.3 billion.
- On average, analysts expected to see EPS of $1.87 and $11.79 billion in revenue.
- Looking ahead, the company expects FY2015 earnings to be between $8.80 and $8.98 per share. Analysts expect to see EPS of $8.97.
FDX’s CEO Frederick W. Smith commented: “We had a very successful peak season as volumes grew across all transportation segments, and our profit improvement programs are moving ahead as scheduled.”
“We believe our strategy is sound, our culture is unique, and our customers value our broad portfolio of business solutions.”
FDX will pay its next 20 cent dividend on April 1. The stock went ex-dividend on March 9.
Shares of FDX were down $1.81, or 1.03% during premarket trading Wednesday. The stock is up 1.18% YTD.