FedEx Trades Higher On Q4 Earnings Beat

FedEx Corporation FDX shares are trading higher after the company reported better-than-expected fourth-quarter EPS and sales results Tuesday.

The company reported quarterly earnings of $2.53 per share, which beat the analyst consensus estimate of $1.52 by 66.45%.

This is a 49.5% decrease over earnings of $5.01 per share from the same period last year.

FedEx reported sales of $17.4 billion, which beat the analyst consensus estimate of $16.49 billion.

"Though our fiscal fourth quarter performance was severely affected by the COVID-19 pandemic, I am extremely proud of the herculean efforts of our team members," CEO Frederick Smith said in a statement. 

"With safety as the first priority, these men and women provided essential transportation of critical supplies across the globe and delivered peak-level e-commerce volumes in the United States. As a result of the strategic investments we have made to enhance our capabilities and efficiencies, FedEx is well positioned to support and benefit from the reopening of the global economy."

FedEx shares were trading up 7.84% at $151.21 after-hours Tuesday after gaining 4.21% in the regular seesion. 

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