Originally published at www.seclive.com
Filing in Focus: FedEx 8-K, December 18, 2013
FedEx Corporation (FDX) announced its financial results for the second quarter of fiscal year 2014, reporting earnings that grew less than analyst expectations. Performance at its Express shipping segment dropped from $6.86B to $6.84B as demand for its services decreased, reflecting consumer sentiment to less timely and more affordable options. The company's Ground unit experienced a 10% in demand for its services, helping drive the company's growth with $2.85B in revenue. Total FedEx revenues fell just short of $11.43B expectations to $11.40B, with operating margin improving from 3.4% to 4.8%. Earnings for the quarter were $500M and $1.57 per share, up from $438M and $1.39 per share, but fell short of analyst estimates of $1.64 per share. Chairman, President, and CEO Frederick Smith commented that the company's quarterly results were strong and that its global portfolio continues to propel growth.
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