Categories AlphaGraphs, Earnings, Industrials

FDX Earnings: FedEx Q1 adjusted earnings drop; revenue up 5%

Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in first-quarter adjusted earnings, despite an increase in revenues. The company also provided guidance for fiscal 2023.

FedEx Q1 2023 earnings infographic

Net income, adjusted for special items, dropped to $3.44 per share in the most recent quarter from $4.37 per share in the year-ago period. Meanwhile, unadjusted profit declined to $875 million or $3.33 per share from $1.11 billion or $4.09 per share a year earlier.

Total revenues increased 5% year-over-year to $23.2 billion during the three-month period. The results were adversely impacted by global volume softness that accelerated in the final weeks of the quarter due to weakening economic conditions.


Read management/analysts’ comments on quarterly reports


“As our team continues to work aggressively to address near-term headwinds, we’re meaningfully strengthening our business and customer experience, including delivering an outstanding peak,” said FedEx’s CEO Raj Subramaniam.

Prior Performance

  • FedEx Q4 2022 earnings infographic
  • FedEx Q3 2022 earnings infographic

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

McCormick (MKC) expects pricing to drive sales growth for the full year of 2022

Shares of McCormick & Co. Inc. (NYSE: MKC) were up on Thursday after the company beat sales estimates for the third quarter of 2022. Adjusted earnings, however, decreased from the

STZ Infographic: Highlights of Constellation Brands’ Q2 2023 earnings results

Constellation Brands, Inc. (NYSE: STZ) announced second-quarter 2023 earnings results on Thursday, reporting a 12% increase in net sales. Comparable earnings, adjusted for one-off items, climbed 33% year-over-year to $3.17

Conagra Brands (CAG) Q1 earnings beat estimates on higher revenues

Packaged Foods company Conagra Brands Inc. (NYSE: CAG) on Thursday said its first-quarter profit increased supported by a 10% revenue growth. Earnings also came in above the consensus forecast. At $2.90

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top