Fedex: far short of expectations in Q1.
(CercleFinance.com) - On Tuesday evening FedEx unveiled adjusted net income that was down 10% at 683 million dollars in Q1 2017-18 (to end-August), i.
e. 2.51 dollars per share, while the consensus was expecting almost 3.10 dollars.
The logistics group's adjusted operating margin declined by one point to 8.1%, on revenues that were up 4% at 15.3 billion dollars - once again below the consensus of 15.4 billion dollars.
FedEx explains that higher bases in each of its segments were more than offset by negative factors such as the cyberattack suffered by TNT Express and secondly, Hurricane Harvey.
Broker Aurel BGC says that these two events have led the group to reduce its target annual EPS, which is now expected to be between 11.05 dollars and 11.85 dollars, compared with a previous range of 12.00 dollars to 12.80 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
e. 2.51 dollars per share, while the consensus was expecting almost 3.10 dollars.
The logistics group's adjusted operating margin declined by one point to 8.1%, on revenues that were up 4% at 15.3 billion dollars - once again below the consensus of 15.4 billion dollars.
FedEx explains that higher bases in each of its segments were more than offset by negative factors such as the cyberattack suffered by TNT Express and secondly, Hurricane Harvey.
Broker Aurel BGC says that these two events have led the group to reduce its target annual EPS, which is now expected to be between 11.05 dollars and 11.85 dollars, compared with a previous range of 12.00 dollars to 12.80 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.