Company news: FedEx (FDX) posts mixed quarterly results

FedEx (FDX) reported Q2 FY2023 earnings of $3.18 per share (versus $4.83 per share in Q2 FY2022), beating analysts’ consensus estimate of $2.82 per share.

The company’s quarterly revenues amounted to $22.814 bln (-2.8% y/y), missing analysts’ consensus estimate of $23.715 bln.

The company also issued downside guidance for FY2023, seeing EPS of $13.00-14.00 versus analysts’ consensus estimate of $14.12.

FDX rose to $171.29 (+4.22%) in pre-market trading.