A FedEx employee will be loading packages from his delivery truck on March 31, 2020 in Washington, DC.
Drew Angerer | Getty Images News
FedEx generated better-than-expected profits and revenue in its most recent quarter as coronavirus outbreaks continue to boost high levels of U.S. and international package delivery, the company said. company Thursday.
The package delivery service does not provide an employment forecast for fiscal 2021, citing continued uncertainty and higher costs arising from the Covid-19 pandemic. Shares of the company fell more than 3.5% in after-hours trading.
Here ‘s how FedEx compared investors’ expectations for the second fiscal quarter of 2021, which ended on November 30, based on estimates compiled by Refinitiv:
- Enhanced EPS: $ 4.83 per share vs $ 4.01 expected.
- Revenue: $ 20.6 billion vs. $ 19.45 billion expected.
“While the overall environment remains uncertain, we expect employment growth in the second half of fiscal 2021 to be driven by the expected increased demand for our services as we continue to meet our priorities. strategic, “Chief Financial Officer Michael Lenz said in the news of earnings.
To prevent multiple packages being sent at once, retailers had tried to push the start of the holiday buying season this year by offering discounts as early as October. The average daily package size for FedEx Ground, which runs e-commerce delivery, climbed 29% to 12.3 million, while package revenue jumped 7% to $ 9.42 for their quarter.
The Memphis-based company has become a key part of U.S. efforts to deliver the Covid-19 vaccine by partnering with the Trump administration’s Operation Warp Speed to dose which merged with UPS following an emergency license for the drug Pfizer last week.
Vaccine delivery comes when customers buy online at the highest rates, although FedEx has said it should have enough capacity to handle the shipments on time. among the highest travel season.
Correction: This article has been corrected to show FedEx report revenue per package of $ 9.42 for the quarter. An earlier version erred that figure.