FedEx Corp FDX just released their second quarter fiscal 2016 earnings results, posting an earnings beat of $2.58 and a revenue beat of $12.5 billion.
Currently, FedEx has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company's latest earnings report. Here are 5 key statistics from this just announced report below.
1. Beat earnings estimates. The company posted $2.58 , beating our Zacks Consensus Estimate of $2.51.
2. Beat revenue estimates. The company saw revenue figures of $12.5 billion , surpassing our estimate of $12.401 billion.
3. Posted net income of $729 million.
4. "FedEx Corp. posted solid earnings despite continued weakness in industrial production and global trade, and we are making impressive progress toward our goals to increase margins, earnings per share, cash flows, and returns on invested capital," said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. "A record number of holiday shipments - fueled by the steady rise of e-commerce - are flowing through the FedEx global networks, and we greatly appreciate the dedication of our 340,000 team members around the world who are delivering outstanding service to our customers."
5. FDX was up $8.36, or 5.22%, to $156.60 as of 4:37 PM ET in after hours trading shortly after its earnings report was released.
Here's a graph that looks at FedEx's EPS and growth rate:
FedEx is a global logistics and delivery company that offers customers a one-stop source for global shipping, logistics and supply chain solutions. Services offered by FedEx companies include worldwide express delivery, ground small-parcel delivery, less-than-truckload freight delivery and global logistics, supply chain management and electronic commerce solutions. FedEx was founded in 1971 and is headquartered in Memphis Tennessee.
Check back later for our full analysis on FedEx's second quarter earnings report!