Parcel and cargo delivery company FedEx (NYSE:FDX) will be reporting earnings tomorrow after market hours. Here’s what you need to know.
FedEx met analysts’ revenue expectations last quarter, reporting revenues of $22.11 billion, flat year on year. It was a satisfactory quarter for the company, with a decent beat of analysts’ operating margin estimates.
Is FedEx a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting FedEx’s revenue to grow 1.2% year on year to $21.94 billion, a reversal from the 6.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.81 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
With FedEx being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for transportation and logistics stocks. However, there has been positive investor sentiment in the segment, with share prices up 2.9% on average over the last month. FedEx is up 3.2% during the same time and is heading into earnings with an average analyst price target of $322.61 (compared to the current share price of $297.62).
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