Categories AlphaGraphs, Earnings, Industrials

FedEx (FDX) beats Q1 FY21 targets; stock rises

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.

FedEx (FDX) Q1 FY21 Earnings Infograph

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

Lyft (LYFT) expects average ride volumes to improve through Q1 2021

Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of

With new strategy in place, Target looks poised to tap growing online demand

Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered

Infographic: Dollar Tree’s (DLTR) performance in Q4

Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company

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