FedEx Beats Analyst Estimates with Strong Q4 Earnings and Revenue, on Track to Achieve $4 Billion Cost-Cutting Goal by 2025 from oscar goals Watch Video
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⏲ Duration: 0:49 👁 View: 810K times ✓ Published: 27-Jun-2024
Description: FedEx reported earnings and revenue that beat analyst estimates for its fiscal fourth quarter of 2024. FedEx expects low to mid-single-digit revenue growth in 2025, driven by e-commerce and low inventory levels. The company is on track to achieve its $4 billion cost-cutting goal by 2025 through consolidation and other measures. FedEx's Express segment margins remained flat, but the operating margin improved slightly for the year. Losing the USPS contract is expected to result in a $500 million headwind for FedEx in fiscal 2025. FedEx raised its quarterly dividend by 10% and expects continued margin improvement from consolidating delivery segments. Shares were up 15% after-hours on Tuesday.