Shares of FedEx were down 4% afterhours on Tuesday following the release of its fourth-quarter and full-year financial results.
The company reported $21.9 billion of revenue, off consensus estimates above $22.5 billion , according to FactSet. Earnings beat analysts’ expectations of $4.85 per share, coming in at $4.94. (Read more of the Journal’s coverage of FedEx’s earnings here.)
FedEx said it was unable to provide an estimate for fiscal 2024 earnings due to an inability “to forecast the mark-to-market retirement plans accounting adjustments.” FedEx is forecasting low-single-digit-percent revenue growth for the year.
Source: https://www.wsj.com/livecoverage/stock-market-today-dow-jones-06-20-2023/card/fedex-stock-slips-after-earnings-gsl8yAdHfDqCUSvNFKa4?siteid=yhoof2&yptr=yahoo