Is FedEx a Buy Despite Its Earnings Miss?
Package delivery kingpin FedEx (NYSE: FDX) reported its first-quarter fiscal year 2022 earnings on Tuesday, notching $22 billion in revenue and $4.37 in diluted earnings per share. Average analyst estimates called for $21.9 billion in revenue and $5 in diluted EPS. FedEx's stock price proceeded to tumble around 9% on Wednesday, turning the company's year-to-date performance from positive to negative.
FedEx may have missed expectations, but its results are still excellent when viewed in the context of a multi-year period. Let's take a look at its business to determine if the stock is a buy now.
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Source Fool.com
