FedEx will report its Q2 results after today's closing bell, followed by the management's conference call at 17:30 ET.
The Capital IQ consensus expects the company to report a 31.0% yr/yr drop in EPS to $2.78 on a 0.8% yr/yr decrease in revenue to $17.69 bln.
Investors will be interested to hear if FedEx boosts its guidance for FY20 due to a recent uptick in global growth expectations. In addition, the company's outlook could be affected by the recent decision to forego additional tariffs on imports from China.
The Wall Street Journal reported yesterday that Amazon is barring sellers on its platform from using FedEx's Ground service for orders from Prime accounts. Sellers will be allowed to use FedEx Ground and Home services once the performance of these services improves.
TECHS:
FedEx trades at 12.7x forward earnings expectations, which represents a discount to UPS 14.8x forward.
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