(Boursier.com) — FedEx rose 14% after market trading on Wall Street last night. For its fourth fiscal quarter just ended, the delivery giant posted adjusted earnings per share of $5.41, compared to $5.34 consensus and $4.94 a year earlier. Revenues totaled $22.11 billion over the period, in line with market expectations, compared to $21.93 billion a year earlier. Thus, revenues increased by 1% and earnings per share by 9.5% over the quarter. For the year ended, earnings per share increased 19% to $17.8, while revenues fell 3% to $87.7 billion.
In addition, the group delivered solid initial guidance for fiscal 2025, excluding the US Postal contract. 2025 revenue growth is expected in the low to mid single digits, while adjusted earnings per share are anticipated between $20 and $22. FedEx finally plans $2.5 billion in share buybacks for the year, including $1 billion in the first quarter alone. Furthermore, the group has suggested that it will explore a sale or spin-off of its freight business, which could prove to create value.
©2024 Boursier.com