FedEx Corporation Earnings Cheat Sheet: Double-Digit Revenue Streak Continues

S&P 500 (NYSE:SPY) component FedEx Corporation (NYSE:FDX) reported its results for the first quarter. FedEx Corporation provides various transportation, e-commerce and business services.

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FedEx Earnings Cheat Sheet for the First Quarter

Results: Net income for FedEx Corporation rose to $464 million ($1.46 per share) vs. $380 million ($1.20 per share) in the same quarter a year earlier. This marks a rise of 22.1% from the year earlier quarter.

Revenue: Rose 11.3% to $10.52 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: FDX was about in line with expectations as the mean analyst estimate of a loss of $1.47 per share. Analysts were expecting revenue of $10.34 billion.

Quoting Management: “Revenue and earnings increased significantly in the quarter due to strong FedEx Ground performance, improved FedEx Freight results and the continued success of the company’s yield management actions,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 12.9%, with the biggest boost coming in the first quarter of the last fiscal year when revenue rose 18.1% from the year earlier quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of $1.75 versus a mean estimate of net income of $1.72 per share.

The company has now seen net income rise in two straight quarters. In the fourth quarter of the last fiscal year, net income rose 33.2% from the year earlier.

Competitors to Watch: United Parcel Service, Inc. (NYSE:UPS), TNT N.V. (TNTTY), Air Transport Services Group Inc. (NASDAQ:ATSG), Air T, Inc. (NASDAQ:AIRT), Velocity Express Corp. (VEXPQ), Alpine Air Express, Inc. (APNX), SkyShop Logistics Inc. (SKPN), and Aramex PJSC (ARMX).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)