FedEx (NYSE: FDX) reported better-than-expected results for its first quarter of fiscal 2021. Non-GAAP earnings of $4.87 per share and revenue of $19.3 billion crushed the market’s estimates. Analysts had expected the logistics giant to earn $2.69 per share on revenue of $17.55 billion. FDX stock rose about 6% in the extended trading hours.
Yesterday, FedEx increased its shipping rates for its subsidiaries FedEx Express, FedEx Ground and FedEx Freight Services with effect from January 4, 2021.
FedEx didn’t provide earnings guidance for fiscal 2021. “While business demand improved in the first quarter, continued uncertainties cloud our ability to forecast full-year earnings,” said Alan B. Graf, Jr.
FDX stock, which hit a new yearly high ($241.00) yesterday, is expected to break that in tomorrow’s regular trading session.
Also read: FedEx (FDX) delivers strong Q1 results on accelerating e-commerce trends
Most Popular
Costco (COST) Q4 earnings, revenue top expectations
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2020, reflecting a marked increase in merchandise sales. The results also topped analysts’
Can Cintas (CTAS) take forward virus-driven shift in sales trend?
The disruption caused by coronavirus has affected almost all sectors except business service providers like Cintas Corporation (NASDAQ: CTAS), which is busy helping clients maintain hygiene and safety during the
Rite Aid’s (RAD) loss narrows in Q2 2021
Rite Aid Corporation (NYSE: RAD) reported a narrower loss in the second quarter of 2021. Net loss shrank to $0.25 per share in the recently ended quarter from $1.49 per