FedEx’s closely-watched Ground unit margin improved from the prior quarter, helping to send shares of the Memphis-based company up 2% to $232.75 in extended trading.
That operation handles the bulk of its e-commerce home deliveries and drives the company’s growth.
The company issued a full-year forecast for earnings per share of $22.50 to $24.50 excluding items above analysts’ average estimate of $22.14 per share, according to Refinitiv I/B/E/S Estimates.
Last week, FedEx expanded its board under a cooperation agreement with activist investor D.E. Shaw Group, which has a 1% stake in the company.
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