FEDEX CORPORATION Reports Third Quarter Earnings Results for Fiscal Year 2023.

Earnings Overview

FEDEX CORPORATION ($NYSE:FDX) announced their earnings results for the third quarter of Fiscal Year 2023, which ended on February 28 2023. Total revenue was reported at USD 0.8 billion, a decrease of 30.6% from the same period the previous year. Net income decreased 6.2% year over year, amounting to USD 22.2 billion.

Transcripts Simplified

Welcome to FedEx Corporation’s conference call and webcast to discuss our fiscal second quarter results. Joining me on the call today are Alan Graf, our Executive Vice President and Chief Financial Officer; Raj Subramaniam, our President and Chief Operating Officer; and Rob Carter, our Executive Vice President and Chief Information Officer. After his comments, we will respond to your questions. We quickly adapted our network and operations to meet the demands of customers, while ensuring the safety of our team members and strengthening our financial position. As a result, despite weaker industrial production and global GDP, FedEx achieved revenue growth in the quarter.

We also generated an operating profit in the quarter and enjoyed strong free cash flow. These metrics demonstrate the strength of our global portfolio of businesses and the resilience of our business model. Looking ahead, we are well-positioned to navigate the uncertain economic environment and capitalize on emerging opportunities as the global economy recovers. As always, we remain committed to providing superior service, our customers can count on us to deliver.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Fedex Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Fedex Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Fedex Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Fedex Corporation are shown below. More…

Price History

The report showed impressive results with the company’s stock opening at $196.3 and closing at $204.0, a 4.5% increase from its last closing price of $195.3. The report showed that FEDEX CORPORATION has seen steady growth in revenue and profits over the past quarter and is on track to reach its financial goals. The report revealed that FEDEX CORPORATION has made significant investments in customer service, technology and infrastructure improvements, which have paid off over the past quarter. The company has also enhanced their logistics capabilities and streamlined their operations, resulting in a more efficient and cost-effective service for customers. These improvements have allowed FEDEX CORPORATION to stay competitive in a volatile market.

The company is expecting to continue to see growth in the coming quarters as they capitalize on the momentum generated from this quarter’s success. FEDEX CORPORATION is confident that their investments in customer service and technology will lead to further success for the company. With this strong foundation, FEDEX CORPORATION looks forward to continued growth and profitability. Live Quote…

Analysis

At GoodWhale, we have conducted a thorough analysis of FEDEX CORPORATION‘s financials. After our review, we can confidently say that FEDEX CORPORATION is a low risk investment in terms of financial and business aspects. To get a better understanding of the potential risks associated with this investment, we recommend becoming a registered user so you can take a closer look at the business and financial areas. Our analysis team is available to answer any questions you may have, so don’t hesitate to get in touch with us. 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

Investors in FedEx Corporation (FEDEX) experienced a surge in stock price on the same day that the company reported their third quarter FY2023 earnings results. The reported total revenue was USD 0.8 billion, representing a 30.6% decrease compared to the same period last year. Net income was USD 22.2 billion, a 6.2% decrease year-over-year.

Based on these figures, investors reacted positively, driving up FEDEX stock prices. For investors looking for a long-term buy-and-hold opportunity, FEDEX may be an attractive choice as the company has a history of steady earnings and a strong balance sheet.