FedEx Corporation (NYSE: FDX) announced its financial results for the second quarter ended November 30, with both earnings and revenue beating estimates.
For the second quarter, the company announced revenue of $16.3 billion, increasing from $14.9 billion in the same period last year. The result beat analysts’ estimates of $15.68 billion. Adjusted earnings for the second quarter were $3.18 per share, increasing from $2.77 per share for the same period last year. The results also beat estimates of $2.89 per share by 29 cents.
“Strategic execution by the FedEx team and a stronger global economy drove improved financial results, and we are well positioned for profitable, long-term growth,” Frederick W. Smith, the chairman and chief executive officer of FedEx.
“We are on track for another record holiday-shipping season, and customer-service levels have been outstanding. We thank our more than 400,000 dedicated team members around the world for their extraordinary dedication,” he added.
The company provided guidance for full fiscal year 2018 in the statement. Earnings were expected to be between $12.70 and $13.30 per share. The company planned to improve operating income at FedEx Express segment by $1.2 to $1.5 billion in fiscal 2020 compared with that in fiscal 2017, according to Alan B. Graf, Jr., the executive vice president and chief financial officer of FedEx.