FedEx (FDX) Tops Q3 EPS by 35c, Offers Guidance, Approves $5B Buyback Plan
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FedEx (FDX) surges on Q3 Express margin beat; board approves new buyback plan
March 21, 2024 4:21 PM EDT(Updated - March 22, 2024 5:40 AM EDT)
FedEx (NYSE: FDX) shares surged more than 12% in premarket trading Friday after the company reported better-than-expected fiscal Q3 earnings and issued upbeat full-year guidance. Another highlight of the report was a strong Express margin, which came notably ahead of consensus estimates.
Moreover, the firm also approved a new share buyback plan.
For Q3, FedEx posted earnings per share (EPS) of $3.86, surpassing the analyst forecast of $3.51. However, the company's... More
