Unveiling FedEx (FDX) Q3 Outlook: Wall Street Estimates for Key Metrics

In its upcoming report, FedEx (FDX) is predicted by Wall Street analysts to post quarterly earnings of $4.66 per share, reflecting an increase of 20.7% compared to the same period last year. Revenues are forecasted to be $21.88 billion, representing a year-over-year increase of 0.8%.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.Given this perspective, it's time to examine the average forecasts of specific FedEx metrics that are routinely monitored and predicted by Wall Street analysts.It is projected by analysts that the 'Revenue- Federal Express segment' will reach $18.89 billion. The estimate suggests a change of +87% year over year.Analysts expect 'Revenue- Other and eliminations' to come in at $894.19 million. The estimate indicates a year-over-year change of +20%.Analysts predict that the 'Revenue- FedEx Freight segment' will reach $2.09 billion. The estimate suggests a change of -1.7% year over year.The combined assessment of analysts suggests that 'Revenue- FedEx Express- Freight- Total freight revenue' will likely reach $1.35 billion. The estimate indicates a year-over-year change of -14.8%.The consensus among analysts is that 'FedEx Express - Package - Average daily package volume - Total international export ADV' will reach 1.11 million. The estimate compares to the year-ago value of 1.03 million.Analysts' assessment points toward 'FedEx Freight - Weight per shipment - Composite weight per shipment' reaching 922.08 thousand. The estimate compares to the year-ago value of 946 thousand.The average prediction of analysts places 'FedEx Express - Package - Average daily package volume - Total ADV' at 17.19 million. The estimate compares to the year-ago value of 5.47 million.According to the collective judgment of analysts, 'FedEx Express - Freight - Average daily freight pounds - U.S.' should come in at 2.59 million. The estimate is in contrast to the year-ago figure of 6.09 million.Analysts forecast 'FedEx Express - Package - Average daily package volume - International domestic' to reach 1.86 million. The estimate compares to the year-ago value of 1.71 million.The collective assessment of analysts points to an estimated 'FedEx Express - Package - Average daily package volume - U.S. deferred' of 1.1 million. The estimate is in contrast to the year-ago figure of 1.1 million.The consensus estimate for 'FedEx Express - Freight - Average daily freight pounds - International economy' stands at 11.3 million. The estimate is in contrast to the year-ago figure of 9.6 million.Based on the collective assessment of analysts, 'FedEx Express - Package - Revenue per package - International export composite' should arrive at $51.13. Compared to the current estimate, the company reported $51.58 in the same quarter of the previous year.View all Key Company Metrics for FedEx here>>>Shares of FedEx have experienced a change of -9.6% in the past month compared to the -7.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), FDX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FedEx Corporation (FDX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks