- 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.
FedEx lower after FQ2 results miss the mark of analysts
Dec 18 2013, 07:49 ET