FedEx Corp. (FDX) on Wednesday reported a fiscal fourth-quarter loss of $895 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Memphis, Tennessee-based company said it had a loss of $3.16. Earnings, adjusted for non-recurring costs and asset impairment costs, were $2.66 per share.
Continue Reading Below
The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.
The package delivery company posted revenue of $12.11 billion in the period, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $12.39 billion.
For the year, the company reported profit of $1.05 billion, or $3.65 per share. Revenue was reported as $47.45 billion.
FedEx expects full-year earnings in the range of $10.60 to $11.10 per share.
FedEx shares have risen roughly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 2 percent. The stock has climbed 31 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on FDX at http://www.zacks.com/ap/FDX
Keywords: FedEx, Earnings Report