FedEx (FDX) Shares Gain on Solid Q4 Earnings and Better Than Expected 2023 Guidance

FedEx (NYSE: FDX) shares were trading more than 3% higher after-hours despite the company’s slight Q4 miss, with EPS of $6.87 coming in worse than the consensus estimate of $6.88. Revenue was $24.4 billion, compared to the consensus estimate of $24.47 billion and $22.6 billion last year.

CEO Raj Subramaniam said the company will be focused on revenue quality and lowering their cost to serve.

The company expects full 2023-year EPS to be in the range of $22.50-$24.50, above the consensus estimate of $22.41.

“Our continued emphasis on revenue quality drove significant improvement in our fourth quarter results,” said Michael C. Lenz, FedEx Corp. executive vice president and chief financial officer. “We expect further momentum in fiscal 2023 and beyond as we execute on our initiatives to drive increased profitability and returns.”

By Davit Kirakosyan

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