Tag: FedEx Corp

United Parcel Service, US Postal Service ink pact

Posted by | Jun 28, 2006 | |

United Parcel Service Inc. and the US Postal Service reached agreement on a deal that will put mail on planes of the package-delivery company and could improve the post office’s reliability. The Wall Street Journal reported Wednesday, citing unnamed people familiar with the matter said. Terms of the arrangement call for UPS to begin flying mail for the Postal Service on Saturday, in what could generate revenue of more than USD100 million a year for UPS, the report said.

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FedEx Corp. Board declares quarterly dividend

Posted by | Jun 1, 2005 | |

The Board of Directors of FedEx Corporation today declared a quarterly cash dividend of USD 0.08 per share on FedEx Corporation common stock, an increase of USD 0.01 per share (an increase of 14.3 per cent) over the previous dividend payment. The dividend is payable July 1, 2005 to stockholders of record at the close of business on June 10, 2005.

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Thoughts on FDX’ F3Q:05 earnings report

Posted by | Mar 18, 2005 | |

FDX reported $1.03 EPS for F3Q:05 (Feb. quarter) vs. our estimate of $1.00, recently upwardly revised Consensus (First Call) of $0.98 and 45% better than $0.71 a year ago. Upside to our model was driven primarily by FedEx Ground with modest upside to Kinko’s based on our low expectations. LTL was modestly below our expectations and Express in-line.

Strong operating metrics. Operating income was up 43% y-o-y on 21.1% revenue growth (including 12.8% growth prior to Kinko’s acquisition) and 110bp of y-o-y consolidated margin improvement (150bp improvement not including Kinko’s). This compared with our expectations for 38% operating income growth on revenue growth of 19% and 100bp margin improvement.

Broad based strength. Volume and yield growth rates across virtually every product line were better than we expected (see Exhibit 1) driven by a strong economy, market share gains on the ground, continued rational but competitive pricing and a modest benefit from fuel.

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FedEx reports strong revenue and earnings growth in third quarter

Posted by | Mar 17, 2005 | |

FedEx Corp. reported the following consolidated results for the third quarter:
Revenue of USD7.34 billion, up 21% from USD6.06 billion the previous year, operating income of USD552 million, up 48% from USD372 million a year ago, operating margin of 7.5%, up from last year’s 6.1% and net income of USD317 million, up 53% from USD207 million the previous year. “We have solid momentum in the business and customer demand is strong,” said Frederick W. Smith, chairman, president and chief executive officer. “Economic conditions remain favorable, and we are optimistic about future growth prospects. We are executing our plans very well and our unique business strategy is paying off.” Total average daily package volume at FedEx Express and FedEx Ground combined grew more than 10% year over year for the quarter, led by double-digit growth in ground and FedEx International Priority(R) shipments. FedEx Freight average daily less-than-truckload (LTL) shipment volume increased 9%. FedEx Express, FedEx Ground and FedEx Freight each reported solid yield improvement.

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FedEx reaffirms earnings guidance for third quarter

Posted by | Jan 11, 2005 | |

FedEx Corporation today reaffirmed its previous guidance of USD 0.90 to USD 1.00 per diluted share for the third quarter ending February 28, 2005. “FedEx experienced a strong holiday season,” said Alan B. Graf Jr., executive vice president and chief financial officer. “We continue to see favorable US and global economic conditions and demand for all of our transportation services is strong.”

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