Fedex: Q1 adjusted earnings down 24%
(CercleFinance.com) - FedEx has reported adjusted revenues of 23.
2 billion dollars for Q1 2023, i.e. period ended 31 August, up over 5.4% y-o-y (22 billion dollars).
However, adjusted EBIT fell 17% y-o-y from 1.49 billion dollars to 1.23 billion dollars.
Adjusted net profit also dropped almost a quarter (-24)% from 1,190 million dollars to 905 million dollars, resulting in adjusted EPS of 3.44 dollars, down from 4.37 dollars.
We are moving quickly and nimbly to navigate a challenging operating environment, leveraging cost, commercial and capacity levers to adapt to the impacts of reduced demand, FedEx management said.
For Q2 2023, Fedex expects revenue of 23.5 to 24 billion dollars, with adjusted EPS of at least 2.75 dollars.
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2 billion dollars for Q1 2023, i.e. period ended 31 August, up over 5.4% y-o-y (22 billion dollars).
However, adjusted EBIT fell 17% y-o-y from 1.49 billion dollars to 1.23 billion dollars.
Adjusted net profit also dropped almost a quarter (-24)% from 1,190 million dollars to 905 million dollars, resulting in adjusted EPS of 3.44 dollars, down from 4.37 dollars.
We are moving quickly and nimbly to navigate a challenging operating environment, leveraging cost, commercial and capacity levers to adapt to the impacts of reduced demand, FedEx management said.
For Q2 2023, Fedex expects revenue of 23.5 to 24 billion dollars, with adjusted EPS of at least 2.75 dollars.
Copyright (c) 2022 CercleFinance.com. All rights reserved.