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Here's What Key Metrics Tell Us About FedEx (FDX) Q3 Earnings

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FedEx (FDX - Free Report) reported $22.17 billion in revenue for the quarter ended February 2023, representing a year-over-year decline of 6.2%. EPS of $3.41 for the same period compares to $4.59 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $22.64 billion, representing a surprise of -2.10%. The company delivered an EPS surprise of +27.72%, with the consensus EPS estimate being $2.67.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how FedEx performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues-FedEx Freight [$M]: $2.19 billion versus the six-analyst average estimate of $2.31 billion. The reported number represents a year-over-year change of -3%.
  • Revenues-FedEx Ground [$M]: $8.66 billion compared to the $8.69 billion average estimate based on six analysts. The reported number represents a change of -1.6% year over year.
  • Revenues-FedEx Express [$M]: $10.35 billion versus the six-analyst average estimate of $10.47 billion. The reported number represents a year-over-year change of -8.5%.
  • Revenues-FedEx Express-Freight-U.S [$M]: $719 million versus $710.53 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +1% change.
  • Revenues-FedEx Express-Package-U.S. overnight envelope [$M]: $478 million versus $463.35 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.2% change.
  • Revenues-FedEx Express-Package-U.S. overnight box [$M]: $2.17 billion compared to the $2.18 billion average estimate based on five analysts. The reported number represents a change of -4.8% year over year.
  • Revenues-FedEx Express-Package-U.S. deferred [$M]: $1.35 billion versus $1.35 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -5.3% change.
  • Revenues-FedEx Express-Package-Total U.S [$M]: $3.99 billion versus the five-analyst average estimate of $3.99 billion. The reported number represents a year-over-year change of -4.5%.
  • Revenues-FedEx Express-Package-Total [$M]: $8.26 billion versus the five-analyst average estimate of $8.33 billion. The reported number represents a year-over-year change of -7%.
  • Revenues-FedEx Express-Package-International domestic [$M]: $1 billion versus the five-analyst average estimate of $918.10 million. The reported number represents a year-over-year change of -1.3%.
  • Revenues-FedEx Express-Other [$M]: $278 million versus $312.36 million estimated by five analysts on average.
  • Revenues-FedEx Services [$M]: $87 million compared to the $66.32 million average estimate based on five analysts. The reported number represents a change of +33.9% year over year.

View all Key Company Metrics for FedEx here>>>

Shares of FedEx have returned -8.3% over the past month versus the Zacks S&P 500 composite's -5.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.


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