FedEx (FDX): FQ4 EPS of $1.99 beats by $0.05. Revenue of $11B (+4% Y/Y) in-line
FedEx's (FDX) FQ4: U.S. domestic revenue per package grew 6% Y/Y, while average daily package volume fell 5%. Freight revenue +7% Y/Y, Ground segment +9%. Operating income and margin higher due to higher yield, volume growth, and improved operational efficiencies. Projects EPS of $1.45-$1.60 for FQ1 and $6.90-$7.40 for FY13. Capital spending expected to fall to $3.9B.
FedEx (FDX): The company sets its guidance for the fiscal year which began June 1 with an assumption for U.S. GDP growth of 2.2% and world GDP growth of 2.6%. The relatively high targets surprises NBG's Brian Sozzi, as he cites downside risk. FDX -2.4% premarket
FedEx's (FDX) FQ4: U.S. domestic revenue per package grew 6% Y/Y, while average daily package volume fell 5%. Freight revenue +7% Y/Y, Ground segment +9%. Operating income and margin higher due to higher yield, volume growth, and improved operational efficiencies. Projects EPS of $1.45-$1.60 for FQ1 and $6.90-$7.40 for FY13. Capital spending expected to fall to $3.9B.
FedEx (FDX): The company sets its guidance for the fiscal year which began June 1 with an assumption for U.S. GDP growth of 2.2% and world GDP growth of 2.6%. The relatively high targets surprises NBG's Brian Sozzi, as he cites downside risk. FDX -2.4% premarket
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