Fri Sep 20 11:39:17 UTC 2024: ## FedEx Misses Earnings Expectations, Stock Drops

**MEMPHIS, TN –** FedEx Corporation (NYSE: FDX) reported disappointing quarterly earnings on Thursday, missing analysts’ expectations for both earnings per share (EPS) and revenue. The shipping giant reported EPS of $3.60, falling short of the consensus estimate of $4.82, while revenue reached $21.58 billion, slightly lower than the projected $21.87 billion.

This marks a significant decline from the same quarter last year when FedEx reported EPS of $4.55. The company’s quarterly revenue also saw a 0.5% decrease compared to the same period in 2023.

Despite the disappointing results, FedEx updated its FY25 guidance to $20.00-21.00 EPS and its FY 2025 guidance to 20.000-21.000 EPS.

FDX stock opened at $300.39 on Friday, a decline from its previous close. The company’s stock has a market cap of $73.92 billion and a price-to-earnings ratio of 17.43.

In a separate development, FedEx recently announced a quarterly dividend of $1.38 per share, payable on October 1st. The ex-dividend date is September 9th.

Additionally, several insider sales were reported in recent months. CEO Sriram Krishnasamy sold 8,421 shares on July 17th and EVP Robert B. Carter sold 16,010 shares on June 28th. In total, insiders sold 32,944 shares over the last quarter, representing 8.73% of the company’s stock.

FedEx continues to face challenges in the global shipping and logistics market. The company is expected to provide further details on its financial performance and outlook during its earnings call.

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