FedEx Posts Better Than Expected Results

FedEx has posted better than expected profits for the fourth quarter and full year — which in part can be attributed to a combination of federal tax cuts, higher rates and increased volume.

The Memphis-based company reported earnings of $5.91 a share for the fourth quarter (March-May), up 41 percent year over year, and $15.31 for fiscal 2018 (ending May 31), up 27 percent.

For its part, those results exceeded analysts’ predictions of around $5.68-$5.71 a share for the fourth quarter (March-May) and $15.05-$15.13 a share for fiscal 2018.

Revenues for the year were $65.5 billion, up from $60.3 billion a year ago.

“In all my years at FedEx I have never been so optimistic and so sure of our strategy and our ability to deliver an exciting future,” said Frederick W. Smith, the founder, chairman and chief executive officer of 45-year-old FedEx.

 

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