FedEx today reported adjusted earnings of $2.58 per diluted share for the second quarter ended November 30, compared to adjusted earnings of $2.16 per diluted share a year ago. Without adjustments, FedEx reported earnings of $2.44 for the second quarter compared to $2.31 per diluted share last year.
This year’s quarterly consolidated earnings have been adjusted for expenses related to the settlement of certain independent contractor litigation matters involving FedEx Ground ($0.09 per diluted share) and the pending acquisition of TNT Express ($0.04 per diluted share).
FedEx Express Segment
- Revenue of $6.59 billion, down 6% from last year’s $7.02 billion
- Operating income of $622 million, up 26% from $492 million a year ago
- Operating margin of 9.4%, up from 7.0% the previous year
FedEx Ground Segment
- Revenue of $4.05 billion, up 32% from last year’s $3.06 billion
- Operating income of $526 million, up 13% from $465 million a year ago
- Operating margin of 13.0%, down from 15.2% the previous year