FedEx Corporation FDX reported a mix fourth-quarter earnings print after Tuesday's close.
Fourth-quarter adjusted earnings came in at $5.01, beating estimates by 8 cents. Sales came in at $17.8 billion, missing estimates by $80 million. The company sees FY2020 adjusted earnings down in the mid single-digit percent range.
“Fiscal 2019 was a year of both challenge and change for FedEx,” said Fred Smith, FedEx Chairman and CEO. “FedEx enters fiscal 2020 with a sharp focus on extending our lead as the premier global transportation and logistics company and on making the necessary investments today to capture the significant market opportunities we see for the future.”
FedEx's stock closed down 3% at $155.98 per share. At time of publication, shares were trading down marginally in the after-hours session.
Related Links:
FedEx In The News Ahead Of Q4 Print
FedEx Move To 7-Day Ground Delivery Will Have Costs Before Revenue Gains
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