FedEx Corporation (NYSE: FDX) will be unveiling its second-quarter 2024 results today after the closing bell. The cargo giant is currently focused on revamping operations and streamlining its networks for long-term cost savings.
Listen to FedEx’s Q2 2024 earnings call live and read the real-time transcript
On average, analysts following the company forecast adjusted earnings of $4.2 per share for Q2, which is up 32% from the prior-year quarter. They are looking for revenues of $22.41 billion for the November quarter.
In the first quarter, the core Express segment and the smaller Freight division contracted by 9% and 16% respectively, which was partially offset by a 3% increase in Ground revenues. At $21.7 billion, total revenue was down 6%. On the other hand, first-quarter earnings, adjusted for special items, jumped 32% annually to $4.55 per share.