Parcel and cargo delivery company FedEx (NYSE:FDX) will be reporting earnings today after market close. Here’s what to look for.
FedEx missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $21.97 billion, flat year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates.
Is FedEx a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting FedEx’s revenue to grow 1% year on year to $21.96 billion, a reversal from the 1.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.63 per share.
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.
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 faced a sell-off over the last month with stocks in FedEx’s peer group down 7.9% on average. FedEx is down 7% during the same time and is heading into earnings with an average analyst price target of $310.03 (compared to the current share price of $247.12).
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