Categories AlphaGraphs, Earnings, Industrials
FDX Earnings: FedEx Q3 2023 adjusted profit, revenue decline
Cargo giant FedEx Corporation (NYSE: FDX) Thursday reported a decline in third-quarter adjusted earnings, hurt by a 6% dip in revenues. The company also provided guidance for fiscal 2023.
Net income, adjusted for special items, dropped to $3.41 per share in the most recent quarter from $4.59 per share in the year-ago period. Unadjusted profit declined to $771 million or $3.05 per share from $1.11 billion or $4.20 per share a year earlier.
Total revenues decreased 6% year-over-year to $22.2 billion during the three-month period. The results were constrained by continued demand weakness, particularly at FedEx Express.
Read management/analysts’ comments on quarterly reports
“We’ve continued to move with urgency to improve efficiency, and our cost actions are taking hold, driving an improved outlook for the current fiscal year,” said FedEx’s CEO Raj Subramaniam.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Infographic: How Alaska Air Group (ALK) performed in Q1 2024
Alaska Air Group (NYSE: ALK) reported its first quarter 2024 earnings results today. Total operating revenue increased 2% year-over-year to $2.23 billion. Net loss amounted to $132 million, or $1.05 per
KMI Earnings: Kinder Morgan Q1 2024 adjusted profit increases; revenue drops
Kinder Morgan, Inc. (NYSE: KMI) reported higher adjusted earnings for the first quarter of 2024 despite a decrease in revenues. The energy infrastructure company also issued guidance for the full
What to expect when Altria (MO) reports first quarter 2024 earnings results
Shares of Altria Group, Inc. (NYSE: MO) stayed green on Wednesday. The stock has dropped 8% over the past one month. The tobacco giant is scheduled to report its first
