FedEx Maintains Fiscal Year Adjusted Earnings Outlook; Sees FY24 EPS $17.00-$18.50 Vs $18.25 Est.; Capital Spending Of $5.7B
Portfolio Pulse from Benzinga Newsdesk
FedEx maintains its adjusted earnings outlook for the fiscal year, expecting EPS of $17.00-$18.50, which is in line with the $18.25 estimate. The company anticipates a low-single-digit percentage decline in revenue year over year and projects capital spending of $5.7 billion focused on efficiency improvements. FedEx is unable to provide a GAAP EPS or ETR outlook for fiscal 2024 due to uncertainties in mark-to-market retirement plan adjustments.

December 19, 2023 | 9:09 pm
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FedEx maintains its fiscal year adjusted earnings outlook with an EPS range of $17.00-$18.50, in line with estimates, despite expecting a slight revenue decline. The company plans significant capital spending to enhance efficiency.
FedEx's announcement maintains its adjusted earnings outlook, which aligns with analyst estimates, indicating stability in its financial performance. The expected revenue decline is slight and seems to be already factored into the outlook. The planned capital spending is significant and aimed at long-term efficiency, which could be viewed positively by investors. However, the inability to provide a GAAP EPS or ETR outlook introduces some uncertainty, potentially offsetting the positive aspects in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100