Industrials

FedEx (FDX) shares jumped in late trading Tuesday after the company reported a modest improvement in quarterly revenue, reversing six straight quarters of declines. The shipping giant said it still faces a challenging market for parcel deliveries but added that it benefitted from savings due to restructuring efforts that include multiple rounds of workforce reductions and facility closures. Earlier this month, FedEx said it is reducing its headcount in Europe by as many as 2,000 people. Shares rose 14.05% to $292.4 in post-market trading. — The Memphis, Tenn.-based company said revenue rose to $22.1 billion in the quarter, from $21.93 billion a year earlier, slightly exceeding the $22.04 billion expected by analysts polled by FactSet. For the fiscal year, revenue reached $87.7 billion, down from the $90.2 billion a year earlier. — The company said it logged $157 million in charges linked to a decision to retire 22 aircraft and seven […]

FedEx says it’s seeing improving trends in U.S. domestic parcel and international export demand. The company’s preparing to put in place additional efficiencies with its contract with the U.S. postal service is set to expires on Sept. 29, but it still expects to benefit from a moderately improving demand environment. Overall for FY25, FedEx expects low-to mid-single digit growth in revenue. In FY24, the company saw a drop in revenue of about 2.8%.Shares jump 15% to $295 in after-hours trading.

FedEx is scheduled to report earnings for the fiscal fourth quarter after the market close Tuesday. Here’s what you need to know: NET INCOME: The Memphis, Tenn.-based package-shipping company is expected to report a net profit for the three months ended May 31 of $1.33 billion, or $5.23 a share, according to FactSet. This compares with reported profit of $1.54 billion, or $6.05 a share, for the same period a year earlier. ADJUSTED EARNINGS: Stripping out one-time items, FedEx is expected to post adjusted earnings of $5.34 per share, according to FactSet. REVENUE: FedEx’s revenue is set to rise to $22.04 billion, according to FactSet. This compares with reported revenue of $21.90 billion for the same period a year earlier.

FedEx’s (FDX) fiscal fourth-quarter core earnings are likely to fall short of market expectations dragged down mainly by its express business, though the focus will be on its full-year outlook, which has “several moving parts and a wide range of expectations,” Morgan Stanley said Monday. The parcel delivery company is scheduled to report fourth-quarter results June 25. Morgan Stanley expects adjusted earnings of $5.12 a share, below Wall Street’s views for $5.32, the firm said in a note. Morgan Stanley said it’s roughly 4% below the Street’s forecast for overall earnings before interest and taxes for the quarter, led mainly by express and a “modest” miss in freight, though ground is likely to deliver a beat. The firm pegs express EBIT at $359 million, below the Street’s $435 million projection amid a “subdued” macroeconomic backdrop and a lack of material improvement in demand. “The express miss reflects demand for parcel