Solid quarter and year for FedEx

FedEx turned in a strong fiscal fourth quarter, capping a strong year. We will post a detailed analysis tomorrow, but here are a few highlights.

The company reported net income up 141% in its fiscal fourth quarter (ended 31 May 2014) to $730 million, as revenue rose 3.5% to $11.84 billion. Operating income for the quarter was up 136% to $1.18 billion, and operating margin was a solid 10.0%, up from 4.4% in 4QFY13. For the full fiscal year FedEx reported net income up 34.3% to $2.10 billion, and revenue up 2.9% to $45.57 billion.

In the company’s core Express segment, operating income for the quarter rose from $0 in 4QFY13 to $475 million, despite revenue being almost flat (up 0.3%) at $7.0 billion. Package volumes were up fairly strongly in all products, both domestic and international, with the exception of US Overnight Envelope.

Tune in tomorrow for the details.

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