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What will be the market cap of FedEx Freight after spin-off completion?
3
Resolution / Starting Odds
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FedEx Reports Q2 Revenue of $22 Billion, Adjusted EPS of $4.05, 15% Decline YoY, Announces Spin-Off of Freight Division
Dec 19, 2024, 09:04 PM
FedEx Corp. (NYSE: FDX) reported its second-quarter earnings for fiscal year 2025, revealing a revenue of $22.0 billion, slightly down from $22.2 billion year-over-year. The company reported an adjusted earnings per share (EPS) of $4.05, which is a decrease from $4.01 consensus estimates but reflects a 15% decline from the previous year's $3.55. Additionally, FedEx announced plans to spin off its FedEx Freight division into a separate publicly traded company within the next 18 months, a move aimed at unlocking shareholder value while maintaining operational synergies. The company’s adjusted operating income for the quarter was $1.38 billion, surpassing estimates of $1.36 billion. FedEx also lowered its full-year non-GAAP EPS guidance to a range of $19.00 to $20.00. Following the earnings report, FedEx shares rose approximately 12.20% in after-hours trading.
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