FedEx reports fiscal fourth-quarter results
FedEx releases its fiscal fourth-quarter results on June 23. The company’s most recent results were strong, with revenue rising 8% year over year to $24 billion.
In its fiscal third quarter, non-GAAP earnings per share climbed 16% to $5.25. The Federal Express segment grew adjusted operating income 18% and expanded its operating margin for the sixth straight quarter.
The company’s strength came from business-to-business shipping rather than consumers. With borrowing costs staying higher for longer, any softness in FedEx’s business could add to growing concerns about the economy.
The earnings report comes after the Federal Reserve held interest rates steady and signaled a rate hike as a real possibility this year.