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FedEx Q2 EPS up 36% to $2.14

Staff writer |
FedEx Corp. reported earnings of $2.14 per diluted share for the second quarter ended November 30, up 36% from last year's $1.57 per share.

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Revenue of $11.9 billion was up 5% from $11.4 billion the previous year Operating income of $1.01 billion, up 22% from $827 million last year Operating margin of 8.5%, up from 7.3% a year ago. Net income was $616 million, up 23% from last year's $500 million.

Operating income and margin increased primarily due to higher volumes and base yields in all three transportation segments. Results in the second quarter also included benefits from the company's profit improvement programs, lower pension expense and a slightly positive net impact from fuel.

These benefits were partially offset by higher aircraft maintenance expense due to the timing of aircraft maintenance events.

Share repurchases benefited second quarter earnings by $0.16 per diluted share.

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