FedEx Q4 Profit Spikes - Quick Facts

(RTTNews) - Package delivery giant FedEx Corp. (FDX) reported a surge in its fourth-quarter net income to $730 million, or $2.46 a share, from $303 million, or $0.95 a share, in the prior-year quarter. On average, 24 analysts polled by Thomson Reuters expected earnings per share of $2.36 for the quarter. Analysts' estimates typically exclude one-time items.

Last year's fourth quarter earnings totaled $2.13 a share, excluding a $0.98 per share business realignment program charge and a $0.20 per share noncash aircraft impairment charge at FedEx Express, the company noted.

Quarterly operating income jumped year-over-year to $1.18 billion, from $502 million, on a GAAP basis.

Revenue of $11.8 billion in the recent quarter, was marginally higher than the $11.4 billion reported a year back. Seventeen analysts estimated revenues of $11.66 billion for the quarter.

For fiscal 2015, FedEx sees earnings to be $8.50 - $9.00 a share, assuming no net year-on-year fuel impact and continued moderate economic growth. Analysts project earnings of $8.76 a share for the year. Full-year capital spending is likely to increase to around $4.2 billion, including planned aircraft deliveries to support the firm's fleet modernization program and continued expansion of the FedEx Ground network.