Edition:
United States

Fedex Qtrly Diluted EPS $2.80


Tuesday, 19 Mar 2019 04:03pm EDT 

March 19 (Reuters) - FedEx Corp ::FEDEX CORP REPORTS THIRD QUARTER RESULTS.UNABLE TO FORECAST FISCAL 2019 YEAR-END MARK-TO-MARKET (MTM) RETIREMENT PLAN ACCOUNTING ADJUSTMENTS.UNABLE TO PROVIDE A FISCAL 2019 EARNINGS PER SHARE OR EFFECTIVE TAX RATE (ETR) OUTLOOK ON A GAAP BASIS.NOW FORECASTING FOR FISCAL 2019 EARNINGS OF $11.95 TO $13.10 PER DILUTED SHARE BEFORE YEAR-END MTM RETIREMENT PLAN ACCOUNTING ADJUSTMENTS.Q3 FINANCIAL RESULTS WERE BELOW EXPECTATIONS.QTRLY DILUTED EPS $2.80.SEES 2019 CAPITAL SPENDING OF $5.6 BILLION.QTRLY ADJUSTED. EPS $3.03.Q3 EARNINGS PER SHARE VIEW $3.11 -- REFINITIV IBES DATA.QTRLY GAAP REVENUE $17.0 BILLION VERSUS $16.5 BILLION.FEDEX - SEES FISCAL 2019 EARNINGS OF $15.10 TO $15.90 PER SHARE BEFORE YEAR-END MTM RETIREMENT PLAN ACCOUNTING ADJUSTMENTS & EXCLUDING SOME ITEMS.Q3 REVENUE VIEW $17.67 BILLION -- REFINITIV IBES DATA.FORECASTING FOR FISCAL 2019 ETR OF 22% TO 23% PRIOR TO YEAR-END MTM RETIREMENT PLAN ACCOUNTING ADJUSTMENTS.INTEGRATION EXPENSES ARE EXPECTED TO EXCEED $1.5 BILLION CUMULATIVELY THROUGH FISCAL 2021.FORECAST FOR FISCAL 2019 INTEGRATION EXPENSES IS DOWN SLIGHTLY TO $435 MILLION.SAVINGS FROM BUSINESS REALIGNMENT ACTIVITIES ARE EXPECTED TO BE $225 MILLION TO $275 MILLION IN FISCAL 2020.FISCAL 2019 PRE-TAX CASH COSTS RELATED TO BUSINESS REALIGNMENT ACTIVITIES EXPECTED TO TOTAL $450 MILLION TO $575 MILLION.FISCAL 2019 PRE-TAX CASH COSTS RELATED TO BUSINESS REALIGNMENT ACTIVITIES SHOULD PREDOMINANTLY OCCUR IN Q4 OF FISCAL 2019.