FedEx Results Beat in Q2; Keeps 2021 Guidance Sidelined

By Yasin Ebrahim

FedEx (NYSE:FDX) reported Thursday second-quarter results that topped expectations, but the shipping giant refrained from providing guidance amid ongoing uncertainty.

FedEx shares fell 3% after-hours trade following the report.

FedEx announced earnings per share of $4.83 on revenue of $20.60 billion. Analysts polled by Investing.com anticipated EPS of $3.93 on revenue of $19.28 billion.

The results were boosted by volume growth and pricing initiatives across all transportation segments though were partially offset by costs to support strong demand and to expand services, the company said.

Looking ahead, the company said it was not providing an earnings forecast for fiscal 2021. “While the overall environment “remains uncertain, we expect earnings growth in the second half of fiscal 2021 driven by the anticipated heightened demand for our services as we continue to execute on our strategic priorities.”

FedEx said its capital spending forecast for the year remains $5.1 billion.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar