Excerpt from our One Page Annotated Wall Street Journal Summary:
Summary: FedEx' (NYSE:FDX) fiscal Q1 (3 months ending August 31st) results: Revenue up 11%, package volume up 5% (largest gain in five quarters), international air deliveries up 17% (strength in China), U.S. ground shipment revenue up 13%, profit up 40%. Results from FedEx and UPS (NYSE:UPS) are viewed as broad economic indicators. Guidance for the current quarter was cut by $0.20 to EPS of $1.45-1.60 due to bonuses and benefits for pilots. CFO Alan Graf said the U.S. economy is, "slowing but nothing I would characterize at this point as a headwind." The stock traded down 1.4% by close yesterday. Full WSJ article >
Related links: Detail: Full FedEx press release • Conference call transcript • Bloomberg's write-up of the FedEx results • Context and stock: A Transport Slowdown? Landstar's Recent Conference Call Points to Yes • The Final Countdown: FedEx vs. Teamsters • More commentary on FedEx stock • On FedEx competitor UPS: UPS: The Market May Be Ahead of the Analysts • FedEx or UPS? Depends On the Market's Strength
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