FedEx Freight Guides Above Estimates for Holiday Quarter
+3 new sources since this summary was written
On October 29, FedEx Freight forecast adjusted holiday-quarter profit of 65-75 cents per share, above the 53-cent analyst estimate, and revenue of $5.58B-$5.65B. It also reported Q3 adjusted profit of $1.49 per share and revenue of $2.44B, supported by better pricing, yields and fuel surcharges. The company cited improving shipment volumes and plans to offset fuel costs through cost reductions and higher-yield freight.
Why it matters
The forecast gives investors an above-estimate earnings outlook for the holiday quarter and establishes a higher near-term earnings bar. Pricing, fuel surcharges and a potential volume recovery could affect how much of the freight network's fixed costs are absorbed, according to the company’s stated outlook.
Key facts
- 1FedEx Freight forecast holiday-quarter adjusted profit of 65-75 cents per share, compared with a 53-cent analyst estimate. investing.com
- 2The company forecast holiday-quarter revenue of $5.58B-$5.65B, up 4-6% YoY. investing.com
- 3FedEx Freight reported Q3 adjusted profit of $1.49 per share. investing.com
- 4Q3 revenue was $2.44B, up 8%. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.