FedEx reports ok second quarter earnings
Another ho-hum earnings release as FedEx reported a 3% increase in total revenue of $11.4bn for the quarter ending November 20.
Perhaps one of the bright spots of this latest earnings report was the fact the company’s profit improvement initiative appears to be working well. For example, overall operating income was up 15% while operating margin was 7.3% compared to 6.5% the previous year. For the Express division, while total revenue declined slightly, 0.3%, to $6.8bn, its operating income increased 42% and operating margin was 4.8% from 3.4% the previous year.