Originally published at www.seclive.com
Filing in Focus: FedEx 8-K, December 18, 2013
FedEx Corporation (NYSE: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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