FDX FedEx Corp

   By Imani Moise 
 

FedEx Corp. reported third-quarter earnings after the closing bell Tuesday. Here's what you need to know:

EARNINGS: The Memphis, Tenn.-based package-delivery company reported adjusted earnings of $3.72 per share up from $2.30 a year earlier. Analysts polled by Thomson Reuters had forecast earnings of $3.11 a share.

REVENUE: Revenue jumped 10% to $16.5 billion, helped by higher base rates and higher volume. Consensus was $16.15 billion in sales.

OUTLOOK: The company also raised its guidance for the year to reflect tax benefits and improved performance. The company now expects adjusted earnings of $15 to $15.40 a share, compared with the $13.61 a share forecast by analysts.

TAX WATCH: The company reported a $1.15 billion benefit related to the recent tax overhaul. On an as-reported basis the company tax changes boosted earnings by $4.21 a share.

STOCK MOVE: Shares rose 3.6% to $261 in extended trading, adding to the 1% gain logged during Tuesday trading. The stock risen 31% over the past year while the S&P 500 has risen 14%.

Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

March 20, 2018 17:02 ET (21:02 GMT)

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