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FedEx Reports Q4 EPS $5.41, Revenue $22.1B, Stock Surges 16% on FY25 Guidance
Jun 25, 2024, 08:24 PM
FedEx has reported its Q4 2024 earnings, showing an adjusted EPS of $5.41, slightly beating the estimate of $5.34. The company also reported revenue of $22.1 billion, matching expectations. FedEx's stock surged 16% after hours following the positive earnings report and favorable outlook. The company forecasts fiscal 2025 adjusted EPS to be between $20.00 and $22.00, exceeding the estimate of $20.85. Additionally, FedEx plans to buy back $2.5 billion worth of shares in fiscal 2025. The company has also announced plans to streamline operations in Europe, resulting in the cutting of 1,700-2,000 jobs. The DRIVE cost savings program achieved $2.2 billion in cost reductions, contributing to the positive outlook. The company expects fiscal 2025 revenue to grow in a low-to-mid-single-digit percent range. FedEx's stock was up 15% after hours, driven by cost control measures.
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