FedEx Corp. (NYSE:FDX) reported fiscal fourth-quarter earnings and sales that were above Wall Street expectations. FedEx earned $1.02 billion, or $3.75 a share, in the quarter, versus a loss of $70 million, or 26 cents a share, in the same quarter buy windows 7 key a year ago. On an adjusted basis, the company earned $1.15 billion, or $4.25 a share, in the quarter, compared with $897 million in the year-ago period.
Higher base rates and higher package volume helped results. Sales climbed to $15.7 billion for the period, higher than the $15.6 billion expected by analysts. FedEx Express revenue grew 7 percent, while FedEx Ground revenue rose 9 percent and FedEx Freight revenue grew 6 percent.
The fourth quarter results ends two straight quarters of disappointing results. Shares of FedeEx rose nearly 2 percent after the earnings results were announced. The company’s shares have risen 12 percent this year, compared with an 8.9 percent gain for an S&P index of industrial companies.
FedEx is forecasting full-year profit in line with analysts’ expectations. The company expects earnings to be $13.20 to $14 a share for the fiscal year through next May. That figure excludes pension adjustments and costs from the integration of TNT Express. According to estimates compiled by Bloomberg, analysts predicted earnings per share of $13.61.
Frederick W. Smith, FedEx chairman and chief executive officer, said, “Strong fourth quarter results completed a record fiscal 2017. We enter fiscal 2018 confident FedEx Corp. will continue to deliver outstanding value and opportunities for shareowners, customers, and team members for years to come.” The courier company expects to benefit from a stronger worldwide economy and projected increases in industrial production in the U.S. both this year and the following year.
FedEx made heavy investments in fiscal 2017 to handle a surge in e-commerce deliveries. CFO Alan Graf said in a statement, “Investments to modernize our aircraft fleet and expand our FedEx Ground capacity are supporting our strong earnings growth. We are very optimistic about fiscal 2018 as evidenced by our earnings outlook.”
FedEx’s earnings announcement comes days after rival UPS announced that it will charge an extra fee for deliveries around Black Friday and Christmas this year to offset added costs for extra planes, trucks and employees needed during the peak holiday season. While the average consumer shipping holiday windows 7 Product key gifts will not see a big difference in the shipping prices, retailers that ship large numbers of packages during the holidays will see their shipping costs increased considerably.