FedEx Stock Falls 4.4% After Hours Despite Q4 Earnings Beat
FDX sits 73% above its 52-week low of $174.012.
Summary
FedEx reported Q4 adjusted EPS of $6.21 on $25 billion revenue, surpassing analyst estimates of $5.96 EPS and $24 billion revenue. Despite beating expectations, the stock fell 4.4% in after-hours trading. This follows an 8-K filed earlier today announcing strong Q4 results and a positive outlook. These are the first results reported since the FedEx Freight spin-off on June 1st, which significantly alters historical comparisons and the company's operational structure. The market's negative reaction despite the beat suggests underlying concerns or that the positive news was already priced in.
At the time of this announcement, FDX was trading at $300.78 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $75.7B. The 52-week trading range was $174.01 to $345.37. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.