.September 20, 2024 Friday 04:44 AM

FedEx Corporation (NYSE:FDX) reported fiscal Q1 earnings that missed expectations, leading to a 13% drop in shares pre-market. Earnings were $3.60 per share on revenue of $21.6 billion, below analysts’ forecasts of $4.86 per share on $21.96 billion revenue. The Federal Express division saw operating margins shrink to 5.2% from 7.1% year-over-year, indicating challenges in that segment. FedEx revised its fiscal 2025 outlook for adjusted earnings per share to $20.00 to $21.00, down from $20.00 to $22.00, with revenue growth expected to be in the low single-digit range. Despite this, FedEx plans to repurchase $1.5 billion in stock during fiscal 2025.