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FDX Earnings: FedEx Q2 2024 adj. earnings miss estimates; revenues down 3%

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FedEx Corporation (NYSE: FDX) on Tuesday reported higher earnings, excluding special items, for the second quarter of 2024. The bottom line, however, missed analysts’ expectations.

Q2 profit, adjusted for one-off items, came in at $3.99 per share, compared to $3.18 per share in the year-ago period. Unadjusted profit was $900.0 million or $3.55 per share in the November quarter, vs. $788.0 million or $3.07 per share in the corresponding period of 2023. Earnings fell short of expectations.

Total revenues were $22.20 billion in the second quarter, compared to $22.8 billion last year. The latest number came in below Wall Street’s estimates.

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