Wall Street analysts expect FedEx to report quarterly earnings of $5.91 per share, a 2.6% decline from the prior year, on revenue of $24.18 billion, an 8.8% increase. The consensus EPS estimate has been revised upward by 1.4% over the last 30 days. Among key segment metrics, analysts forecast Federal Express U.S. ground package revenue at $9.46 billion, up 10.1% year over year, and U.S. priority package revenue at $3.01 billion, up 10.6%. International export package revenue is estimated at $4.08 billion, an 11.7% increase, while international economy package revenue is seen at $1.57 billion, up 8.5%. On the volume side, average daily package volume for U.S. ground home delivery and economy is projected at 7.24 million, compared with 6.89 million a year ago, and U.S. ground commercial volume is estimated at 4.29 million versus 4.23 million. International economy average daily package volume is expected to reach 572.47 thousand, up from 554.00 thousand, and total international export average daily volume is forecast at 1.14 million, compared with 1.12 million. Revenue per package for U.S. priority is estimated at $27.58, up from $25.85, and international export composite revenue per package is seen at $56.56, up from $51.18. FedEx shares have declined 10.5% over the past month, underperforming the Zacks S&P 500 composite's 1.6% gain, and the stock carries a Zacks Rank #3 (Hold).
FedEx CorporationEarnings preview with mixed signals: EPS expected to decline 2.6% but revenue up 8.8%, with upward EPS revision and volume growth; stock underperformed recently.