FedEx Easily Tops Earnings Estimates on Strong Residential Delivery Demand
FedEx (NYSE: FDX) delivered fiscal third-quarter results that easily surpassed analyst expectations, with the company continuing to benefit from strong residential volumes and demand for international shipping.
After markets closed Thursday, the company said it earned $3.47 per share in the quarter on sales of $21.5 billion, beating consensus expectations for $3.24 per share in earnings on $19.95 billion in revenue. The results could have been better: FedEx said that severe winter weather in February reduced the quarter's operating income by about $350 million, significantly impairing company hubs in Memphis, Tennessee, and North Texas.
Image source: FedEx.
Source Fool.com
