FedEx's (FDX) net income fell in the fourth quarter.
Earnings and Revenue
The company posted an EPS above analyst expectations, though revenues fell short of predictions. The company reported adjusted net income of $1.99 a share versus the $1.92 a share estimate and revenues of $11 billion versus the $11.13 billion estimate. The estimates of 19 analysts ranged from profit of $1.82 to profit of $2.
The company's net income for the quarter was $550 million. According to the reported number, this is down 1.4% from last year's levels. Revenue climbed 4.2% from $10.55 billion in the same period last year.
Company Fundamental Trends
With last quarter's falling profit, The company ends a run of at least four consecutive quarters of year-over-year profit increases. The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations
The company has now topped analyst estimates for the last three quarters.
"FedEx delivered strong earnings results for fiscal 2012 due to the outstanding performance by FedEx Ground, our new value proposition at FedEx Freight and improved yields across all transportation segments," said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. "In fiscal 2013, we will continue our focus on improving our operating efficiencies and our financial performance across all of our businesses, while simultaneously enhancing our service capabilities. We remain absolutely committed to higher earnings, margins, cash flows and returns."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.