Parcel and cargo delivery company FedEx (NYSE: FDX) will be reporting results this Thursday after market hours. Here’s what to expect.
FedEx beat analysts’ revenue expectations last quarter, reporting revenues of $23.47 billion, up 6.8% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EBITDA estimates.
Is FedEx a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting FedEx’s revenue to grow 6.1% year on year, improving from the 1.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FedEx has missed Wall Street’s revenue estimates multiple times over the last two years.
With FedEx being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for transportation and logistics stocks. However, the whole sector has been hit hard over the last month as stocks in FedEx’s peer group are down 9.5% on average. FedEx is down 5.6% during the same time .
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