FEDEX CORPORATION Reports First Quarter Earnings Results for FY2024
September 22, 2023
🌥️Earnings Overview
For the first quarter of FY2024, FEDEX CORPORATION ($NYSE:FDX) reported total revenue of USD 21681.0 million, a 6.7% decrease compared to the same period in the previous year. Net income for the quarter, however, increased 23.2% year over year to USD 1078.0 million.
Share Price
FEDEX CORPORATION reported its first quarter earnings results for FY2024 on Wednesday. The stock opened at $251.6 and closed at $250.5, representing a 0.2% increase from the previous closing price of 250.0. The company has seen positive revenue growth for the past four quarters.
Overall, FEDEX CORPORATION’s first quarter earnings report was positive and showed strong financial performance for the quarter. The company’s stock performed well throughout the quarter, and investors appeared pleased with the financial results. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fedex Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 88.59k | 4.17k | 5.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fedex Corporation. More…
| Operations | Investing | Financing |
| 9.47k | -6.14k | -3.08k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fedex Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 87.58k | 61.04k | 105.54 |
Key Ratios Snapshot
Some of the financial key ratios for Fedex Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.4% | 18.0% | 7.2% |
| FCF Margin | ROE | ROA |
| 3.7% | 15.2% | 4.6% |
Analysis
GoodWhale has conducted an extensive analysis of FEDEX CORPORATION‘s fundamentals to provide insight into the company’s financial health. Based on our findings, FEDEX CORPORATION is a low risk investment. The company is financially sound and has a good business outlook. Our analysis identified several key areas where investors should be mindful of potential risks. For example, there may be high debt levels in the balance sheet, or customer concentration risks that can affect the company’s ability to generate consistent revenue. To gain greater insight into the risks associated with investing in FEDEX CORPORATION, we encourage prospective investors to register on GoodWhale.com and explore our comprehensive evaluation of the company’s financial and business performance. More…
Peers
In the business world, companies are constantly vying for market share and mind share. Two companies that have been in competition for years are FedEx Corp and its main competitor United Parcel Service Inc. (UPS). The two companies have been in competition since the early days of the express shipping industry and they continue to compete for business today. Another company that FedEx competes with is United Airlines Holdings Inc. (UAL). UAL is an airline holding company that operates United Airlines, one of the largest airlines in the world. United and FedEx have been in competition for business since United launched its cargo operation in the early 1990s. Finally, Blink Charging Co (BLNK) is a company that provides electric vehicle (EV) charging stations. FedEx has been investing in EV technology and has been installing EV charging stations at its facilities around the world.
– United Parcel Service Inc ($NYSE:UPS)
Founded in 1907, United Parcel Service Inc is a package delivery and supply chain management company. The company has a market cap of 144.94B as of 2022 and a Return on Equity of 58.11%. UPS delivers packages and freight to more than 220 countries and territories around the world. The company has more than 500,000 employees and operates a fleet of more than 100,000 vehicles.
– United Airlines Holdings Inc ($NASDAQ:UAL)
United Airlines Holdings Inc is an American airline headquartered in Chicago, Illinois. It is the world’s third-largest airline when measured by revenue, after American Airlines and Delta Air Lines. United operates a large domestic and international route network, with an extensive presence in the Asia-Pacific region. The airline has a fleet of over 700 aircraft and employs over 86,000 people.
– Blink Charging Co ($NASDAQ:BLNK)
Blink Charging Co. is a provider of electric vehicle (EV) charging equipment and services. The company offers Blink EV charging stations and related products and services to consumers, businesses, governments, and utilities. Blink Charging Co. has a market cap of 675.75M as of 2022 and a Return on Equity of -29.61%.
Summary
FEDEX CORPORATION reported its first quarter earnings results for FY2024, ending on August 31 2023. Total revenue for the quarter decreased by 6.7% year-on-year to USD 21681.0 million, while net income increased by 23.2% to USD 1078.0 million. The company’s performance was encouraging, indicating that investing in FEDEX CORPORATION could be a smart decision.
The solid net income growth was driven by strong operational efficiency and cost control measures, enabling the company to remain profitable despite reduced revenue. Investors should continue to monitor the company’s performance and any potential opportunities to capitalize on its success.
Related Posts
Recent Posts
