FedEx beats by $0.07, reports revs in-line; guides FY25 EPS in-line, revs in-line
- Reports Q4 (May) earnings of $5.41 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $5.34; revenues rose 0.8% year/year to $22.11 bln vs the $22.04 bln FactSet Consensus.
- FedEx Express segment revenue was roughly flat yr/yr at $10.42 bln.
- FedEx Ground segment revenue rose 2.4% yr/yr to $8.49 bln.
- FedEx Freight segment revenue rose 1.6% yr/yr to $2.31 bln.
- Co issues in-line guidance for FY25, sees EPS of $20.00-22.00, excluding non-recurring items, vs. $20.92 FactSet Consensus; sees FY25 revs growing low-to-mid single-digits vs. +3.2% or $90.47 bln FactSet Consensus.
- "We made significant progress in fiscal 2024 and ended the year strong, delivering four consecutive quarters of expanding operating income and margin in a challenging revenue environment," said Raj Subramaniam, FedEx Corp. president and chief executive officer. "These results are unprecedented in this current environment, reflecting our continued execution of our DRIVE initiatives and our resolve to transform FedEx while we deliver outstanding service to our customers. We expect this momentum to continue in fiscal 2025 as we advance our efforts to create the world's most flexible, efficient, and intelligent network."