聯邦快遞績後大升!考慮剝離貨運業務
週二,聯邦快遞最新披露的業績超預期,承諾明年將回購25億美元,並暗示可能剝離其貨運業務。
盤後,聯邦快遞股價一度大升超15%,最新升超13%,報290.7美元。

業績超預期
財報顯示,2024財年第四財季,聯邦快遞業績好於分析師預期。
期間實現營收221億美元,同比小幅增長0.9%,好於分析師預期220.7億美元。
淨利潤為13.4億美元,同比增長7.2%;每股收益為5.41美元,超過分析師預期的5.34美元和前一財年的4.94美元。
營業利潤率也從前一年的8.1%提高至8.5%。

2024整個財年,聯邦快遞實現營收為877億美元,低於前一財年的902億美元;調整後的每股收益為17.8美元,高於前一財年的14.96美元。

聯邦快遞的總裁兼首席執行官Raj Subramaniam指出:“我們在2024財年取得了重大進展,並以強勁的表現結束了這一財年,在充滿挑戰的收入環境中連續四個季度實現了營業收入和利潤率的增長。我們預計這一勢頭將在 2025財年繼續保持。”
展望本財年,聯邦快遞預計,得益於電商和補庫需求,2025財年的收入同比將實現中低個位數增長,調整後每股收益將為20美元-22美元,中值超過分析師平均預期的20.85美元。
聯邦快遞還表示,計劃在2025財年回購價值高達25億美元的股票。
考慮剝離貨運業務
此外,聯邦快遞還暗示可能剝離其貨運業務:
“聯邦快遞管理層和董事會正在評估聯邦快遞貨運業務在公司投資組合結構中的作用,以及進一步釋放可持續股東價值的潛在措施。”
在財報電話會議中,Raj Subramaniam拒絕提供有關評估該部門的更多細節,並稱該過程已經“順利進行中”。
2024財年,聯邦快遞貨運的營收為91億美元,營業利潤率為20%,利潤率遠高於地面包裹業務的13%和陷入困境的快遞業務的1.9%。

如果未來出售貨運業務,聯邦快遞將成為一家更純粹的小包裹遞送和物流公司,並效仿其競爭對手UPS。
UPS在2021年以8億美元的價格將貨運業務售出,據悉,聯邦快遞貨運業務的出售價格可能會更高一些。
降本有成效
業績繼續保持向好勢頭,得益於聯邦快遞一直在努力降低成本,包括裁員數萬人。
今年3月,聯邦快遞透露,通過裁員,公司員工總數比上一年減少了2.2萬個。
本月初,聯邦快遞透露,計劃將其在歐洲的員工人數減少2000個。
週二,聯邦快遞表示,預計2025財年將永久性削減22億美元成本。在電話財報會議上,Subramaniam評論稱:“我們正穩步實現成本節約目標。”
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