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When FedEx Corp. (NYSE: FDX) reported its fiscal fourth-quarter financial results after the markets closed on Tuesday, the company posted $4.25 in earnings per share (EPS) and $15.73 billion in revenue. Consensus estimates from Thomson Reuters had called for $3.88 in EPS and revenue $15.56 billion. In the same period of last year, the company reported EPS of $3.30 and $12.98 billion in revenue.

Operating results benefited from higher base rates, increased package volume and the inclusion of TNT Express results. Most of the success seen the quarter was the result of TNT Express.

In terms of its segments, the company reported:

• FedEx Express had revenues of $7.18 billion, with operating income of $909 million.
• TNT Express had revenues of $1.91 billion, with operating income of $83 million.
• FedEx Ground had revenues of $4.68 billion, with operating income of $702 million.
• FedEx Freight had revenues of $1.70 billion, with $133 million in operating income.

As for the guidance for the coming fiscal year, the company expects to see EPS in the range of $13.20 to $14.00, compared with consensus estimates calling for $13.60 in EPS and $63.18 billion in revenue. At the same time, capital spending for fiscal 2018 is expected to be roughly $5.9 billion, which includes an increase in planned aircraft deliveries to support the FedEx Express fleet modernization program and continued investments in FedEx Ground automation and capacity expansion, including certain projects deferred from fiscal 2017.

Frederick W. Smith, FedEx chairman and CEO, commented:

Strong fourth quarter results completed a record fiscal 2017. We enter fiscal 2018 confident FedEx Corp. will continue to deliver outstanding value and opportunities for shareowners, customers, and team members for years to come.

Shares of FedEx were trading down 0.7% at $207.40 on Wednesday, with a consensus analyst price target of $222.44 and a 52-week range of $145.00 to $211.88.