FedEx closed the door on the fiscal year late Tuesday with better-than-expected fourth-quarter earnings and revenue. The shipping heavyweight also gave initial fiscal 2025 guidance, as FedEx prepares for life without a contract with the United States Postal Service (USPS). FedEx reported fiscal fourth-quarter EPS growing 9.5% to $5.41 with revenue increasing 1% to $22.10 billion.
Rivian shares surge after Volkswagen says it will invest up to $5 billion in the electric-vehicle company, FedEx jumps after topping analysts’ earnings estimates and saying it will be reviewing its freight business, and Southwest cuts revenue guidance.
Earnings beat expectations, and FedEx is feeling good about its new fiscal year.