Gear Up for FedEx (FDX) Q3 Earnings: Wall Street Estimates for Key Metrics

Wall Street analysts expect FedEx (FDX) to post quarterly earnings of $3.55 per share in its upcoming report, which indicates a year-over-year increase of 4.1%. Revenues are expected to be $22.02 billion, down 0.7% from the year-ago quarter.

The current level reflects a downward revision of 0.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

That said, let's delve into the average estimates of some FedEx metrics that Wall Street analysts commonly model and monitor.

Analysts' assessment points toward 'Revenues- Other and Eliminations' reaching $797.06 million. The estimate indicates a change of -10.7% from the prior-year quarter.

The average prediction of analysts places 'Revenues- FedEx Services' at $78.44 million. The estimate indicates a year-over-year change of -9.8%.

The consensus among analysts is that 'Revenues- FedEx Express' will reach $10.01 billion. The estimate points to a change of -3.2% from the year-ago quarter.

The combined assessment of analysts suggests that 'Revenues- FedEx Ground' will likely reach $8.78 billion. The estimate indicates a year-over-year change of +1.5%.

Analysts predict that the 'Average daily package volume - FedEx Express - Package - Total U.S Domestic Package' will reach 2,768.76 thousand. The estimate is in contrast to the year-ago figure of 2,850 thousand.

The consensus estimate for 'Average daily package volume - FedEx Express - Package - Total' stands at 5,530.70 thousand. The estimate compares to the year-ago value of 5,636 thousand.

The collective assessment of analysts points to an estimated 'Average daily package volume - FedEx Express - Package - Total International Export Package' of 997.32 thousand. Compared to the current estimate, the company reported 981 thousand in the same quarter of the previous year.

Analysts forecast 'Average daily package volume - FedEx Ground' to reach 9,488.58 thousand. Compared to the current estimate, the company reported 9,428 thousand in the same quarter of the previous year.

Analysts expect 'Average daily package volume - FedEx Express - Package - U.S. overnight envelope' to come in at 438.22 thousand. The estimate is in contrast to the year-ago figure of 454 thousand.

Based on the collective assessment of analysts, 'Average daily package volume - FedEx Express - Package - U.S. overnight box' should arrive at 1,230.89 thousand. Compared to the current estimate, the company reported 1,255 thousand in the same quarter of the previous year.

It is projected by analysts that the 'Average daily package volume - FedEx Express - Package - International Domestic' will reach 1,764.62 thousand. The estimate is in contrast to the year-ago figure of 1,805 thousand.

According to the collective judgment of analysts, 'Average daily freight pounds - FedEx Express - Freight - U.S' should come in at 5,405.12 thousand. The estimate is in contrast to the year-ago figure of 6,681 thousand.

View all Key Company Metrics for FedEx here>>>

Shares of FedEx have experienced a change of +6.6% in the past month compared to the +1.8% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), FDX is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How To Profit From Trillions On Spending For Infrastructure >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

FedEx Corporation (FDX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.