Introduces Fiscal 2024 Outlook, Including $1.8B Of DRIVE Cost Savings; Sees FY24 Adj. EPS $16.50-$18.50 Vs $18.36 Est.; Expects To Repurchase $2.0B Of FedEx Common Stock
Portfolio Pulse from Happy Mohamed
FedEx introduces its fiscal 2024 outlook, projecting $1.8 billion in DRIVE cost savings and an EPS of $16.50-$18.50, compared to the $18.36 estimate. The company also plans to repurchase $2.0 billion of its common stock.
June 20, 2023 | 8:06 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
FedEx's fiscal 2024 outlook includes $1.8B in cost savings and an EPS range of $16.50-$18.50, with plans to repurchase $2.0B of common stock.
The announcement of FedEx's fiscal 2024 outlook, which includes $1.8 billion in cost savings and an EPS range of $16.50-$18.50, is likely to be seen as positive by investors. Additionally, the company's plan to repurchase $2.0 billion of its common stock could boost investor confidence and potentially increase the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100