FedEx posts solid earnings beat and lifts full-year guidance
FedEx Corporation (FDX) is up 1.0% Wednesday morning. The company posted adjusted fiscal third-quarter earnings of $3.72 per share, easily topping the $3.11 consensus. FedEx reported revenue of $16.53 billion, up 10% versus the same period last year, and ahead of the $16.18 billion that analysts had forecast. For the full year, the company now expects to see earnings in a range of $15.00 and $15.40 per share, up from its previous forecast range of $12.70 to $13.30.
FedEx Corporation (FDX) is a shipping company.
Monsanto Company (MON) and WellCare Health Plans, Inc. (WCG) top the list of other companies with positive news today, while General Mills, Inc. (GIS) and Winnebago Industries, Inc. (WGO) top the list of companies with negative news.
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About FedEx Corporation
FedEx pioneered overnight delivery in 1973 and remains the world's largest express delivery firm. In fiscal 2018, FedEx derived about 55% of its $65 billion top line from its express division, 28% of sales from ground, and 10% from its freight less-than-truckload trucking segment. FedEx Office provides document production and shipping services, and Trade Networks offers freight forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016.