FedEx Stock Takes A Hit After The Company Posts Weak Q2 Financial Results
Portfolio Pulse from Ryan Gustafson
FedEx Corporation (NYSE:FDX) reported Q2 earnings of $3.99 per share, missing the expected $4.19, and sales of $22.20 billion, below the forecasted $22.39 billion. Despite a revenue decline, operating income grew due to the execution of its DRIVE program. The company maintained its full-year adjusted earnings forecast, expecting $17.00 to $18.50 per share. Shares fell 7.64% to $258.73 in after-hours trading.
December 19, 2023 | 9:42 pm
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FedEx reported lower-than-expected Q2 earnings and sales, but improved operating income. The company's full-year earnings forecast remains unchanged. Shares dropped 7.64% in after-hours trading.
The negative earnings and sales report is likely to impact investor sentiment negatively in the short term, as evidenced by the after-hours stock price decline. However, the unchanged full-year forecast and improved operating income may mitigate some concerns.
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