FedEx: misses consensus in Q3

(CercleFinance.com) - On Tuesday evening FedEx unveiled adjusted net income that is down 22% at 797 million dollars in its third accounting quarter, or 3.
03 dollars per share, EPS that is about fifteen cents below the consensus.

However, the Memphis-based logistics group maintained its adjusted operating margin at 5.8%, on sales that are up 3% at 17 billion dollars, despite macroeconomic conditions that weighed on its international express business.

For the full year, FedEx now expects adjusted EPS of 15.10 dollars to 15.90 dollars, while three months ago it provided a target range of 15.50 dollars to 16.60 dollars.


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