FedEx Delivers Growth Faster than We Anticipated, Increasing Our FVE
FedEx grew second-quarter fiscal 2018 revenue 9.3% and net income by 10.7%, and raised guidance for full-year earnings. We consider volume and yield improvements impressive, and expect to increase our fair value estimate due to time value of money since our prior update and broad growth exceeding our expectations, constrained by margins lower than we projected for this year. We  maintain our narrow moat rating.Despite the cyberattack on TNT, Express grew revenue 8% and improved its adjusted ope...
FedEx provides transportation, e-commerce and business services through companies under the FedEx brand. These companies are included in the following segments: Federal Express Corporation, including TNT Express B.V., is an express transportation company; FedEx Ground Package System, Inc., which is a provider of small-package ground delivery services; FedEx Freight Corporation, which is a provider of less-than-truckload freight services; and FedEx Corporate Services, Inc., which provides sales, marketing, information technology, communications, customer service, technical support, billing and collections services, and certain back-office functions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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