FDX - FedEx Delivers Mixed Q1 Results: Lowers Revenue Outlook Increases Earnings Guidance Shares Spring Higher | Benzinga
FedEx Corp (NYSE: FDX) reported first-quarter results after the bell. Here's a rundown of the report and a look at what appears to be driving the action.
Q1 Earnings: FedEx reported first-quarter revenue of $21.7 billion, which missed the consensus estimate of $21.81 billion, according to Benzinga Pro. The company reported quarterly earnings of $4.55 per share, which beat analyst estimates of $3.74 per share.
FedEx said its results were primarily driven by its DRIVE program initiative and continued focus on revenue quality, "partially offset by ongoing demand weakness." FedEx sees permanent cost reductions from ...