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FedEx Is Saving The Plant, But Blaming The Weather

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Brian Sozzi appreciates FedEx's (NYSE: FDX) efforts to go green and save the planet, but does that mean the company should blame mother nature for a downbeat third quarter?

"FedEx has over 360 all hybrid electric vehicles now in service, plus over 200 all electric vehicles. In addition the company is replacing its older engines with new fuel efficient ones by Mercedes-Benz that helps to boost engine efficiency by a whopping 80 percent," Sozzi said.

Following downbeat third quarter results, shares of FedEx initially traded sharply lower to $134.47, but have rebounded and are currently trading at $138.50. In the official earnings release, FedEx blamed weather for the down quarter, following the example of many companies this earnings season. Sozzi couldn't resist commenting as he took a shot at FedEx on Twitter.

Latest Ratings for FDX

DateFirmActionFromTo
Jun 2018Morgan StanleyMaintainsEqual-WeightEqual-Weight
Jun 2018Credit SuisseMaintainsOutperformOutperform
Jun 2018Morgan StanleyMaintainsEqual-WeightEqual-Weight

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Posted-In: Belus Capital Advisors Brian SozziAnalyst Color Earnings News Analyst Ratings Media

 

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