FedEx Q4 Sales Miss Views, Shares Fall

reported a loss for the fiscal fourth quarter. The company's revenue also missed analysts' estimates. The Memphis, Tennessee-based company reported a quarterly loss of $895 million, or $3.16 per share, versus a year-ago profit of $780 million, or $2.62 per share. Excluding non-recurring items, its adjusted earnings climbed to $2.66 per share from $2.54 per share. Its revenue climbed to $12.1 billion from $11.8 billion. However, analysts were expecting earnings of $2.43 per share on revenue of $12.31 billion. The average estimate among 31 Estimize users was for earnings of $2.75 per share and revenue of $12.32 billion. Revenue for the FedEx Express segment fell 4 percent year-over-year to $6.70 billion, while revenue for the FedEx Ground segment climbed 19 percent to $3.57 billion. Revenue for the FedEx Freight segment rose 1 percent to $1.57 billion. Its adjusted operating income surged to $1.28 billion from $1.22 billion, while adjusted operating margin widened to 10.5 percent from 10.3 percent. "Fiscal 2015 was a transformative year for FedEx with outstanding financial results driving expanded long-term value for shareowners," said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. "Significant acquisitions announced in the year promise to strengthen our portfolio of services and change what's possible for customers. I am very proud of the FedEx team for its accomplishments and look forward to a successful fiscal 2016." For fiscal 2016, the company expects adjusted earnings of $10.60 to $11.10 per share, versus analysts' estimates of $10.88 per share. Capital spending for the year is projected to be around $4.6 billion. FedEx shares fell 1.42 percent to $179.66 in pre-market trading.