FedEx Delivers Q4 Earnings Beat, Revenue Miss, Shares Slide
Portfolio Pulse from Adam Eckert
FedEx reported Q4 revenue of $21.9 billion, down 10.22% and missing estimates of $22.72 billion, while earnings per share of $4.94 beat estimates of $4.89. The company expects full fiscal year 2024 earnings to be in the range of $16.50 to $18.50 per share. CFO Michael Lenz will retire on July 31.
June 20, 2023 | 8:21 pm
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FedEx's Q4 revenue missed estimates, while earnings per share beat expectations. The company provided weak earnings guidance for fiscal year 2024, and CFO Michael Lenz will retire.
FedEx's Q4 revenue miss and weak earnings guidance for fiscal year 2024 are likely to negatively impact the stock price in the short term. Additionally, the retirement of CFO Michael Lenz may create uncertainty among investors.
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