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Feb 29, 2020
FedEx Q3 2020 Earnings Report
FedEx's Q3 2020 earnings were impacted by weaker global economic conditions, including the coronavirus, and higher self-insurance accruals.
Key Takeaways
FedEx Corp. reported consolidated results for the third quarter ended February 29, 2020. Revenue increased to $17.5 billion from $17.0 billion. Operating income was $411 million, and net income was $315 million, or $1.20 per diluted share.
COVID-19 pandemic is having a significant impact around the world
Operating results declined due to weaker global economic conditions including the impact of the coronavirus
Company is suspending its fiscal 2020 earnings forecast due to the uncertainty caused by the coronavirus pandemic
Company is attacking costs throughout the company by managing capacity, retiring oldest aircraft, integrating TNT Express, and lowering residential delivery costs
Forward Guidance
FedEx is suspending its fiscal 2020 earnings forecast for its consolidated and segment results due to the uncertainty caused by the coronavirus pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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