Bulletin
Investor Alert

Market Pulse Archives

March 19, 2019, 4:16 p.m. EDT

FedEx stock falls after company misses Wall Street Q3 views

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    FedEx Corp. (FDX)

or Cancel Already have a watchlist? Log In

By Claudia Assis

FDX

Shares of FedEx Corp. /quotes/zigman/254280/composite FDX -0.43% fell more than 3% in the extended session Tuesday after the logistics company missed Wall Street's expectations for its fiscal third quarter, thanks in part to higher costs for its FedEx Ground business. FedEx said it earned $739 million, or $2.80 a share, in the quarter, compared with $2.07 billion, or $7.59 a share, in the year-ago period. Adjusted for one-time items, FedEx earned $797 million, or $3.03 a share, in the quarter, compared with $1.02 billion, or $3.72 a share, a year ago. Revenue rose to $17 billion, from $16.5 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of $3.03 a share on sales of $17.6 billion. "Our third quarter financial results were below our expectations and we are focused on initiatives to improve our performance," Chief Executive Frederick W. Smith said in a statement. "Our investments in innovation, network infrastructure and automation will increase our competitiveness and drive long-term earnings growth." Shares of FedEx had ended the regular trading day down 0.5%. FedEx guided fiscal 2019 earnings between $11.95 and $13.10 a share; the analysts polled by FactSet expect EPS of $16.02 a share for the year.

/quotes/zigman/254280/composite
US : U.S.: NYSE
$ 195.13
-0.85 -0.43%
Volume: 1.53M
April 23, 2019 4:02p
P/E Ratio
14.38
Dividend Yield
1.33%
Market Cap
$51.07 billion
Rev. per Employee
$304,846
loading...

Get news alerts on FedEx Corp. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.