** charts before earnings **
** charts after earnings **
FedEx beats by $0.08, reports revs in-line; reaffirms FY16 EPS guidance :
- Reports Q2 (Nov) earnings of $2.58 per share, $0.08 better than the Capital IQ Consensus of $2.50; revenues rose 5.0% year/year to $12.5 bln vs the $12.42 bln Capital IQ Consensus.
- Express Segment
- Revenue of $6.59 billion, down 6% from last year's $7.02 billion
- Operating margin of 9.4%, up from 7.0% the previous year
- Ground Segment
- Revenue of $4.05 billion, up 32% from last year's $3.06 billion
- Operating margin of 13.0%, down from 15.2% the previous year
- Freight
- Revenue of $1.55 billion, down 2% from last year's $1.59 billion
- Operating margin of 6.5%, down from 7.1% the previous year
- Co reaffirms guidance for FY16, sees EPS of $10.40-10.90 vs. $10.55 Capital IQ Consensus Estimate.
- The outlook assumes moderate economic growth and excludes the independent contractor legal settlements and any TNT-related costs or operating results.
- The effective tax rate for the full year is expected to be approximately 36% excluding any MTM adjustments and the impact of the TNT transaction.
- The capital spending forecast for the fiscal year remains $4.6 billion.
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