FedEx Reports Smaller Loss for Fourth Quarter, Improvement from Last Year

FedEx Corp. (NYSE: FDX) reported a loss of $0.26 per diluted share for the fourth quarter ended May 31 compared to a loss of $3.16 per diluted share a year ago. With adjustments, FedEx’s fourth quarter earnings were $3.30 per diluted share compared to adjusted earnings of $2.66 per diluted share a year ago.  

“Fiscal 2016 was a successful year for FedEx in many ways,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “Of particular note was our corporate operating margin improvement. Our May 25 acquisition of TNT Express capped a historic year of significant accomplishments that benefited shareowners, team members and customers, and strongly positions FedEx for long-term profitable growth.”

Operating results benefited from improved yield management, the continued positive impacts from profit improvement program initiatives at FedEx Express and strong volume growth at FedEx Ground. One additional operating day and the positive net impact of fuel also benefited results.

During the quarter, the company acquired 3.8 million shares of FedEx common stock at an average price of $156.21.

Revenues were $13.0 billion for the period.

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