BUZZ-Street View: FedEx keeps its engine running despite heavy cargo

Reuters12-19 17:57

BUZZ-Street View: FedEx keeps its engine running despite heavy cargo

** Parcel delivery company FedEx FDX.N said it was planning for $175 million in unexpected peak-season costs to find trucks and planes to move goods that would have flown on its MD-11 cargo plane fleet that was grounded after a deadly UPS crash last month

** Co reports fiscal second-quarter profit and revenue above analyst estimates on Thursday, lifting low end of full-year earnings outlook on peak-season pricing and cost-cutting efforts

** Shares fall 1.4% to $283 premarket

COST BUMP AHEAD

** J.P. Morgan ("neutral," PT: $294) expects FedEx’s stock to react neutrally to Q2 earnings beat and full-year guidance increase, as impact from retiring MD-11 aircraft will be felt more in Q3

** Morgan Stanley ("underweight," PT: $210) says new business wins in healthcare and auto drove nearly half of FedEx’s Q2 growth, offsetting international volume pressure and MD-11 drag

** TD Cowen ("buy," PT: $313) expects 2H margins to face pressure from MD-11 grounding costs

** Jefferies ("buy," PT: $326) sees well-defined cost headwinds in 2H, though argues Q2 is clear proof of what FDX can deliver once challenges pass

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))

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Morgan (\"neutral,\" PT: $294) expects FedEx’s stock to react neutrally to Q2 earnings beat and full-year guidance increase, as impact from retiring MD-11 aircraft will be felt more in Q3 ** Morgan Stanley (\"underweight,\" PT: $210) says new business wins in healthcare and auto drove nearly half of FedEx’s Q2 growth, offsetting international volume pressure and MD-11 drag** TD Cowen (\"buy,\" PT: $313) expects 2H margins to face pressure from MD-11 grounding costs** Jefferies (\"buy,\" PT: $326) sees well-defined cost headwinds in 2H, though argues Q2 is clear proof of what FDX can deliver once challenges pass (Reporting by Akriti Shah in Bengaluru) ((akriti.shah@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"express","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2592168823","isCrawlerRequest":true}