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Fedex: Q1 EPS well above expectations

( - On Tuesday evening FedEx unveiled Q1 adjusted net income that is up 60% at 1.
28 billion dollars, or 4.87 dollars per share, with EPS exceeding the consensus by over 2.20 dollars.

The Memphis, Tennessee based logistics and courier group saw its adjusted operating margin improve by 2.4 points to 8.5%, while revenues grew by 13.5% to 19.3 billion dollars.

edex is not providing earnings guidance for the 2020-21 fiscal year, although says that its capital expenditure forecast for the year increases by 200 million dollars to 5.1 billion dollars, corresponding to measures to expand its capacity.

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