FedEx shares sank 12% after releasing its second quarter results. Earnings were $935 million ($3.51 per share), compared to $775 million ($2.84 per share) a year earlier. In adjusted basis, the EPS was $4.03, against $3.18 a year earlier. Revenues reached $17.8 billion, compared with $16.3 billion a year ago. Analysts on average expected a quarterly EPS of $3.94, for revenues of $17.8 billion. By mentioning in particular an economic slowdown in Europe, and a possible deceleration of world trade in the short term, the group is now targeting an annual EPS of between $12.65 and $13.40.
Jabil increased 7% after presenting fiscal first quarter report. Net income was $123.6 million ($0.76 per share), compared with $63.8 million ($0.35 per share) a year earlier. The adjusted EPS is $0.90. Revenues amounted to $6.51 billion, against $5.59 billion a year earlier. Analysts on average expected a quarterly EPS of $0.88, for revenues of $6.1 billion. In the current quarter, the group targets EPS between $0.51 and $0.71, for revenues between $5.8 and $6.4 billion.
General Mills marked a 5% rally on the back of its second quarter accounts. Profit in the period was $343 million ($0.57 per share), compared to $430 million ($0.74 per share) a year earlier. On an adjusted basis, earnings per share amounted to $0.85. Sales rose 5.1% to $4.41 billion. Analysts on average expected a quarterly EPS of $0.81, for sales of $4.5 billion. In fiscal year 2019, the group targets organic sales up 0 to 1%, for EPS down 0 to 3% ($3.11 in 2018).
Eli Lilly climbed 2.4% thanks to dividend hike. It expects a profit per share of $5.90 to $6 for fiscal year 2019 with revenues ranging from $25.3 to $25.8 billion. On 2018, the EPS is still expected between $5.55 and $5.60. The group also announces a 15% increase in its quarterly dividend, which amounts to $0.645 per share.