Fdx stock price – fedex corp. stock quote (u.s. nyse) – marketwatch gas usa


The U.S. Postal Service reported Friday a second-quarter net loss that widened to $1.34 billion from $562 million a year ago. The controllable loss, which excludes items that are non-recurring and outside of management control, was $656 million vs. a profit of $12 million a year ago. The controllable loss was due primarily by a $236 million increase in retiree health benefit costs, a $364 million rise in compensation expenses and a $155 million increase in transportation expenses. Revenue rose 1.4% to $17.50 billion, as a 9.5% rise in shipping and packages revenue helped offset a 2.5% decline in first-class mail revenue. "Despite growth in our package business, our financial results reflect systemic trends in the marketplace and the effects of an inflexible, legislatively mandated business model that limits our ability to generate sufficient revenue and imposes costs upon us that we cannot afford," said Postmaster General Megan Brennan. The USPS results come at a time that shares of rival package delivery companies United Parcel Service Inc. has lost 4.3% year to date and FedEx Corp. slipped 0.7%, while the S&P 500 has gained 1.9%.

Shares of FedEx Corp. nearly 4% late Tuesday after the company reported fiscal third-quarter earnings and sales above expectations. FedEx said it earned $2.07 billion, or $7.59 a share, in the quarter, compared with $562 million, or $2.07 a share, in the year-ago period. Adjusted for one-time items, FedEx said it earned $1.02 billion, or $3.72 a share, in the quarter, compared with $625 million, or $2.30 a share, a year ago. Revenue rose to $16.5 billion, from $15 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of $3.11 a share on sales of $16.2 billion. "We expect strong operating performance in each of our transportation segments in the fourth quarter," Chief Executive Frederick W. Smith said in a statement. The company said it expects earnings between $17.90 and $18.30 a share for fiscal 2018 before pension-accounting adjustments, an increase from previous estimates thanks to foreign-tax benefits, the U.S. tax overhaul, and improved operating performance. FedEx said it expects capital spending for fiscal 2018 at $5.8 billion, down $100 million from its prior forecast. Shares ended the regular trading session up 1%.

FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight. The TNT Express segment comprises of international express transportation, small-packaging ground delivery, and freight transportation. The FedEx Ground segment focuses on small-package ground delivery services, and day-certain service to any business address in the United States, and Canada. The FedEx Freight segment offers less-than-truckload freight services across all lengths of haul. The FedEx Services segment provides sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions. The company was founded by Frederick Wallace Smith on June 18, 1971 and is headquartered in Memphis, TN.