FedEx is set to release its fiscal fourth-quarter results on Tuesday, June 23, its first update since the Federal Reserve signaled a possible rate hike. The company guided for adjusted earnings per share of about $5.80, which would be its strongest quarter of the year, following a fiscal third quarter where revenue rose 8% to $24 billion and adjusted earnings per share climbed 16% to $5.25. The report will be the last to include the FedEx Freight unit, which was spun off into a separate publicly traded company on June 1. Shares have pulled back recently amid a hawkish Fed and competitive concerns after Amazon opened its less-than-truckload freight network to outside businesses. At about $326, FedEx trades at roughly 17 times the midpoint of management's adjusted earnings guidance for the fiscal year.
FedEx CorporationHawkish Fed signals possible rate hike, creating economic uncertainty; shares pulled back.
FedEx Freight Holding Company, Inc.
Amazon.com IncAmazon opened its less-than-truckload freight network to outside businesses, competing with FedEx.