FedEx Q3 adjusted EPS $3.86 beats $3.41 YoY; narrows FY guidance, cuts capex to $5.4B

FEDEX CORP

2024-Q3 EPS reported $11.31 revenue$65,584,000,000

Q3 revenue $21.7B (-2% YoY); GAAP operating income $1.24B (+19%), adjusted $1.36B (+16%).
GAAP diluted EPS $3.51; adjusted $3.86 vs. $3.41 last year, aided by $0.09 from share repurchases.
FY2024 adjusted EPS outlook narrowed to $17.25-$18.25 (prior $17.00-$18.50); capex cut to $5.4B.
Board authorized new $5B share repurchase program; $500M additional buyback planned in Q4.
DRIVE program delivered $1.8B in permanent cost reductions, driving margin expansion.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FEDEX CORP reported the third quarter ended February 29, 2024 results: revenue $21.7 billion, net income $879 million, EPS $3.51.

Period: the third quarter ended February 29, 2024
Revenue: $21.7 billion
Net income: $879 million
EPS: $3.51
Result: reported results

Exact text from the filing

February 29 (adjusted measures exclude the items listed below): Fiscal 2024 Fiscal 2023 As Reported (GAAP) Adjusted (non-GAAP) As Reported (GAAP) Adjusted (non-GAAP) Revenue $21.7 billion $21.7 billion $22.2 billion $22.2 billion Operating income $1.24 billion $1.36 billion $1.04 billion $1.17 billion Operating margin 5.7% 6.2% 4.7% 5.3% Net income $879 million

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Source: SEC EDGAR

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