Fedex: tightens up FY EPS targets

(CercleFinance.com) - On announcing its Q1 results on Wednesday evening, FedEx revised its forecasts for FY 2023-24, now expecting adjusted EPS of $17 to $18.
50, above its previous target range of $16.50 to $18.50.

In contrast, the logistics and parcel transport group now expects fairly flat annual revenue, compared to its previous forecast of stable or growing revenue (low single-digit growth).

It recorded Q1 adjusted EPS of $4.55, up 32% from $3.44 a year earlier, with a non-GAAP operating margin improving two points to 7.3% on revenues that are down 6.5% to $21.7bn.


Copyright (c) 2023 CercleFinance.com. All rights reserved.