(Boursier.com) — The express carrier FedEx raised its profit forecast for the current fiscal year 2023 on Thursday evening, causing the stock to jump 7.16% on Friday on Wall Street to $ 243.24 at the close.
The group, which has changed CEO since June 1, published after the close of markets accounts broadly in line with expectations for its fourth fiscal quarter of 2022, completed at the end of May, but was optimistic for the financial year which just started. For fiscal year 2023, Fedex thus expects net earnings per share (EPS) of $22.50 to $24.50. The midpoint, at $23.50, is above analyst consensus expectations, housed at $22.21.
In the 4th fiscal quarter, the group’s adjusted EPS reached $6.87 (+37% over one year) and sales came out at $24.39 billion, up around 7.5% on a year. Refinitiv analyst consensus expected a little better, at $6.86 for EPS and $24.56 billion in sales.
On June 14, Fedex shares soared by more than 14% after management announced a 53% increase in the quarterly dividend to $1.15, as well as the appointment of two new members of the Board of Directors. administration, at the request of activist investor DE Shaw & Co. The group also plans to reduce its investments to support its profitability in the current context of high inflation.
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