What's Going On With FedEx Stock Today
Portfolio Pulse from Akanksha Bakshi
FedEx reported a Q4 FY23 revenue decline of 10.22% YoY to $21.9 billion, missing consensus estimates of $22.72 billion. Adjusted EPS was $4.94, beating estimates of $4.89. The company returned $2.7 billion to stockholders through stock repurchases and dividends during FY23. FedEx expects flat to low-single-digit-percent revenue growth YoY for FY24.
June 21, 2023 | 1:35 pm
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NEGATIVE IMPACT
FedEx's Q4 FY23 revenue declined 10.22% YoY, missing estimates. Adjusted EPS beat estimates, but the company expects flat to low-single-digit-percent revenue growth for FY24.
FedEx's Q4 revenue decline and missed estimates, along with a modest outlook for FY24, may negatively impact the stock price in the short term. The company's performance is also affected by demand weakness and cost inflation, which could further weigh on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100