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Summary
- FedEx Corp (NYSE:FDX) reported US$84 billion in revenue for FY 2021, up 21% YoY.
- It booked a net income of US$1.87 billion in the May quarter, against a net loss of US$334 million in the same quarter in the previous year.
FedEx Corporation (NYSE:FDX) stock was trending on Wall Street on Friday, a day after it reported robust quarterly and annual earnings growth.
FedEx is the largest package provider in the world. The Tennessee-based company operates FedEx Express, FedEx Freight, FedEx Ground, TNT Express, and FedEx Services.
Its market capitalization is US$76.58 billion and P/E ratio is 25.56. FedEx stock closed at US$303.69, up 2% from the previous close on June 24 after it announced its results.
Revenue for the fourth quarter ended May 31, 2021, was US$22.6 billion compared to US$17.4 billion in the corresponding quarter of 2020, an increase of nearly 30% YoY. Its FY 2021 revenue was US$84 billion compared to US$69.2 billion in the previous fiscal year.
It booked a net income of US$1.87 billion in the May quarter, against a net loss of US$334 million in the same quarter in the previous year. For FY 2021, it booked a net income of US$5.23 billion, up 306%, compared to US$1.29 billion in FY 2020.
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Source: Pixabay.
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FedEx stock traded higher on June 24 after positive earnings report. On Friday, however, it was trading at US$290.25, down 4.43%, at 12:08 pm ET from the previous close.
Friday’s muted stock performance could be due to expected higher labor costs and compensation expenses that are expected in the near future.
The stock has given 123% growth in the last one year as of June 24.
Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.
