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<p class="has-drop-cap">FedEx Corporation (FDX) recently released its <a aria-label="financial results (opens in a new tab)" href="https://investors.fedex.com/home/default.aspx" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">financial results</a> for the second quarter 2024. The company reported a diluted EPS of $3.55 and an adjusted EPS of $3.99, falling short of the expected EPS of $4.19. The revenue for the quarter also experienced a slight dip compared to the previous year, reflecting ongoing global economic uncertainties. In response to the earnings report, FedEx’s stock dipped to $252.6 in premarket trading, down 9.79% at the time of writing.</p> 
<h3 id="fedex-reported-revenue-of-22-2b-in-q2-fy24-lower-than-expected">FedEx Reported Revenue of $22.2B in Q2 FY24, Lower than Expected</h3> 
<p>Comparing FedEx’s performance against market expectations, it’s evident that the company faced hurdles. The anticipated revenue for the quarter was $22.37 billion, but the actual revenue of $22.2 billion fell short, indicating the impact of broader economic factors on the <a href="https://tokenist.com/investing/fundamental-analysis-stocks/" rel="dofollow" class="deco-link">company’s operations</a>. This gap between expectations and reality shows that FedEx faces challenges in balancing its operational costs with broader market dynamics. </p> 
<p>FedEx has revised its guidance, reflecting a strategic adaptation to the <a href="https://tokenist.com/three-indicators-that-show-promise-for-a-soft-landing/" rel="dofollow" class="deco-link">current economic climate</a>. The company anticipates full-year revenue to drop by a low-single-digit percentage, a downward adjustment from earlier projections. This revision is a prudent response to market volatility and underscores FedEx’s commitment to maintaining fiscal stability. <br><br>Simultaneously, the company forecasts an <a href="https://tokenist.com/investing/p-e-ratio/" rel="dofollow" class="deco-link">adjusted EPS</a> between $17.00 and $18.50, indicating its confidence in operational efficiencies and strategic initiatives despite the challenges. This forward-looking approach balances caution with optimism as FedEx navigates the evolving economic landscape.</p> 
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<h3 id="stock-dips-in-premarket">Stock Dips in Premarket</h3> 
<p>FedEx’s stock price has shown significant movement following its second-quarter financial results. The shares closed at $280.00, down by $1.92 or 0.68%, and experienced a more pronounced drop in pre-market trading, plunging by $27.04 or 9.79% to $252.60. </p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p>The post <a rel="nofollow" href="https://tokenist.com/fedex-q2-eps-dips-to-3-99-stock-plunges-in-premarket/">FedEx Q2 EPS Dips to $3.99; Stock Plunges in Premarket</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

FedEx Q2 EPS Dips to $3.99; Stock Plunges in Premarket

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