FedEx lower after FQ2 results miss the mark of analysts


FedEx (FDX) reports FQ2 results which disappointed on the bottom line, but appeared strong on a year-over-year comparison as it bumped against a comparable quarter from last year which included the impact from Hurricane Sandy on the company's level of activity. A late Thanksgiving could have played a factor in the softer-than-expected results from FDX (h/t Hedgeye).

Segment revenue: Express fell to $6.84B; Ground +10% to $2.85B.

Operating margin rose 60 bps Y/Y to 7.3%, but fell short of analyst estimates.

Revenue per package showed modest gains for both the Express and Ground segment.

The company lifts its outlook on full-year EPS growth to 8%-14% growth from prior guidance for a  7%-13% lift. (PR)

FDX -2.2% premarket.

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