FedEx Shares Surge 15% After Impressive Q4 Financial Results
FedEx shares surged over 15% in after-hours trading following impressive financial results for its fiscal fourth quarter. The company exceeded analysts’ expectations in earnings and revenue, reporting a net income of $1.47 billion and revenue of $22.1 billion. FedEx anticipates revenue growth for fiscal 2025 and aims for a $2.2 billion reduction in costs, part of its DRIVE transformation program.
FedEx Earnings Report Focuses on Turbulence at Express and Health of Ground Unit
When FedEx Corp. reports earnings after the market closes on Thursday, much of the focus will likely be on the poor results at the Express unit, the company’s largest by sales. Investors are keen to hear about the progress of Chief Executive Officer Raj Subramaniam’s cost-cutting plan and the rebound of air cargo. Ground, FedEx’s most profitable business, is also a concern as the era of large price increases may be over and there’s a danger that revenue per package may begin to slip.