Subtext

FedEx Corporation FDX

SectorIndustrials
Transcripts70
Date range2007-03-21 – 2025-03-20
Calls charted67

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-20-10+0+10+202008 Q22010 Q42013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42008 Q2 · Overall: +0.42008 Q3 · Overall: +2.92008 Q4 · Overall: -0.62009 Q1 · Overall: +2.22009 Q2 · Overall: -3.92009 Q3 · Overall: -2.02009 Q4 · Overall: -0.92010 Q2 · Overall: +9.62010 Q3 · Overall: +14.82010 Q4 · Overall: +11.12011 Q3 · Overall: +6.92011 Q4 · Overall: +13.72012 Q1 · Overall: +1.32012 Q2 · Overall: +8.22012 Q3 · Overall: +7.62012 Q4 · Overall: +13.42013 Q1 · Overall: +3.52013 Q2 · Overall: +8.82013 Q3 · Overall: +8.92013 Q4 · Overall: +3.32014 Q1 · Overall: +4.42014 Q2 · Overall: +8.42014 Q3 · Overall: +4.92014 Q4 · Overall: +10.02015 Q1 · Overall: +13.32015 Q2 · Overall: +5.62015 Q3 · Overall: +6.42015 Q4 · Overall: +9.22016 Q1 · Overall: +3.52016 Q2 · Overall: +7.32016 Q3 · Overall: +3.32016 Q4 · Overall: +6.22017 Q1 · Overall: +9.32017 Q2 · Overall: +5.72017 Q3 · Overall: +6.32017 Q4 · Overall: +11.12018 Q1 · Overall: +4.72018 Q2 · Overall: +10.52018 Q3 · Overall: +12.62018 Q4 · Overall: +12.22019 Q1 · Overall: +13.72019 Q2 · Overall: +2.82019 Q3 · Overall: +10.52019 Q4 · Overall: +5.92020 Q1 · Overall: +5.92020 Q2 · Overall: +7.92020 Q3 · Overall: +5.82020 Q4 · Overall: +7.32021 Q1 · Overall: +15.02021 Q2 · Overall: +15.82021 Q3 · Overall: +12.42021 Q4 · Overall: +16.52022 Q1 · Overall: +9.82022 Q2 · Overall: +15.42022 Q3 · Overall: +12.52022 Q4 · Overall: +7.82023 Q1 · Overall: +2.12023 Q2 · Overall: +12.72023 Q3 · Overall: +11.82023 Q4 · Overall: +8.72024 Q1 · Overall: +16.92024 Q2 · Overall: +12.92024 Q3 · Overall: +17.32024 Q4 · Overall: +16.32025 Q1 · Overall: +11.72025 Q2 · Overall: +17.42025 Q3 · Overall: +13.3
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-45-23+0+23+452008 Q22010 Q42013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42008 Q2 · CEO: +5.02008 Q3 · CEO: +6.72008 Q4 · CEO: +7.22009 Q1 · CEO: +12.92009 Q2 · CEO: +4.62009 Q3 · CEO: +1.82009 Q4 · CEO: +4.92010 Q2 · CEO: +16.82010 Q3 · CEO: +17.02010 Q4 · CEO: +16.32011 Q3 · CEO: +15.82011 Q4 · CEO: +18.52012 Q1 · CEO: +9.12012 Q2 · CEO: +17.82012 Q4 · CEO: +17.82013 Q1 · CEO: +7.02013 Q2 · CEO: +16.02013 Q3 · CEO: +15.12013 Q4 · CEO: +5.72014 Q1 · CEO: +12.92014 Q2 · CEO: +19.72014 Q3 · CEO: +12.22014 Q4 · CEO: +12.32015 Q1 · CEO: +14.92015 Q2 · CEO: +7.72015 Q4 · CEO: +11.52016 Q1 · CEO: +4.92016 Q2 · CEO: +8.52016 Q3 · CEO: +11.42016 Q4 · CEO: +11.52017 Q1 · CEO: +8.92017 Q2 · CEO: +6.92017 Q3 · CEO: +1.42017 Q4 · CEO: +0.72018 Q1 · CEO: +6.12018 Q2 · CEO: +7.92018 Q3 · CEO: +8.42018 Q4 · CEO: +2.62019 Q1 · CEO: +8.42019 Q2 · CEO: -3.02020 Q2 · CEO: +12.62020 Q4 · CEO: +10.82021 Q1 · CEO: +9.92021 Q2 · CEO: +7.32021 Q3 · CEO: +12.52021 Q4 · CEO: +15.22023 Q1 · CEO: +11.42023 Q3 · CEO: +19.42023 Q4 · CEO: +17.22024 Q1 · CEO: +19.32024 Q2 · CEO: +25.62024 Q3 · CEO: +32.52024 Q4 · CEO: +28.02025 Q1 · CEO: +28.32025 Q2 · CEO: +27.02025 Q3 · CEO: +28.22008 Q2 · CFO: +3.92008 Q3 · CFO: +5.32008 Q4 · CFO: +1.82009 Q1 · CFO: +0.02009 Q2 · CFO: -9.42009 Q3 · CFO: -5.62009 Q4 · CFO: -8.62010 Q2 · CFO: +12.62010 Q3 · CFO: +14.12010 Q4 · CFO: +12.82011 Q3 · CFO: +7.92011 Q4 · CFO: +39.42012 Q1 · CFO: +12.12012 Q2 · CFO: +12.32012 Q4 · CFO: +28.42013 Q1 · CFO: +15.82013 Q2 · CFO: +14.12013 Q3 · CFO: +20.62013 Q4 · CFO: +13.92014 Q1 · CFO: +14.42014 Q2 · CFO: +13.32014 Q3 · CFO: +6.02014 Q4 · CFO: +16.72015 Q1 · CFO: +23.02015 Q2 · CFO: +10.12015 Q4 · CFO: +19.72016 Q1 · CFO: +10.82016 Q2 · CFO: +11.52016 Q3 · CFO: +1.62016 Q4 · CFO: +2.82017 Q1 · CFO: +14.42017 Q2 · CFO: +5.92017 Q3 · CFO: +9.22017 Q4 · CFO: +21.62018 Q1 · CFO: +0.52018 Q2 · CFO: +6.42018 Q3 · CFO: +17.72018 Q4 · CFO: +14.32019 Q1 · CFO: +11.52019 Q2 · CFO: +9.42019 Q3 · CFO: +17.52019 Q4 · CFO: +12.22020 Q1 · CFO: -2.42020 Q2 · CFO: +2.42020 Q3 · CFO: +5.22020 Q4 · CFO: +3.12021 Q1 · CFO: +22.72021 Q2 · CFO: +24.82021 Q3 · CFO: +15.62021 Q4 · CFO: +25.72022 Q1 · CFO: +2.52022 Q2 · CFO: +3.82022 Q3 · CFO: +9.82022 Q4 · CFO: +15.72023 Q1 · CFO: +1.02023 Q2 · CFO: +5.92023 Q3 · CFO: +9.62023 Q4 · CFO: +11.02024 Q1 · CFO: +27.92024 Q2 · CFO: +10.92024 Q3 · CFO: +15.22024 Q4 · CFO: +13.12025 Q1 · CFO: +11.42025 Q2 · CFO: +17.92025 Q3 · CFO: +13.3
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-39-19+0+19+392008 Q22010 Q42013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42008 Q2 · Prepared remarks: +0.52008 Q3 · Prepared remarks: +3.22008 Q4 · Prepared remarks: -1.92009 Q1 · Prepared remarks: +6.12009 Q2 · Prepared remarks: -3.42009 Q3 · Prepared remarks: -2.12009 Q4 · Prepared remarks: +0.32010 Q2 · Prepared remarks: +12.22010 Q3 · Prepared remarks: +17.12010 Q4 · Prepared remarks: +17.12011 Q3 · Prepared remarks: +10.72011 Q4 · Prepared remarks: +33.72012 Q1 · Prepared remarks: +4.42012 Q2 · Prepared remarks: +11.42012 Q3 · Prepared remarks: +28.02012 Q4 · Prepared remarks: +19.62013 Q1 · Prepared remarks: +12.92013 Q2 · Prepared remarks: +15.82013 Q3 · Prepared remarks: +11.92013 Q4 · Prepared remarks: +13.92014 Q1 · Prepared remarks: +16.52014 Q2 · Prepared remarks: +15.52014 Q3 · Prepared remarks: -1.02014 Q4 · Prepared remarks: +15.32015 Q1 · Prepared remarks: +18.02015 Q2 · Prepared remarks: +7.32015 Q3 · Prepared remarks: +8.52015 Q4 · Prepared remarks: +9.52016 Q1 · Prepared remarks: +2.52016 Q2 · Prepared remarks: +9.52016 Q3 · Prepared remarks: +7.92016 Q4 · Prepared remarks: +11.52017 Q1 · Prepared remarks: +15.02017 Q2 · Prepared remarks: +7.82017 Q3 · Prepared remarks: +16.82017 Q4 · Prepared remarks: +11.42018 Q1 · Prepared remarks: +4.92018 Q2 · Prepared remarks: +10.72018 Q3 · Prepared remarks: +12.92018 Q4 · Prepared remarks: +12.52019 Q1 · Prepared remarks: +14.12019 Q2 · Prepared remarks: +2.92019 Q3 · Prepared remarks: +22.62019 Q4 · Prepared remarks: +10.32020 Q1 · Prepared remarks: +6.72020 Q2 · Prepared remarks: +17.32020 Q3 · Prepared remarks: +5.92020 Q4 · Prepared remarks: +8.32021 Q1 · Prepared remarks: +18.52021 Q2 · Prepared remarks: +21.22021 Q3 · Prepared remarks: +12.82021 Q4 · Prepared remarks: +17.82022 Q1 · Prepared remarks: +11.22022 Q2 · Prepared remarks: +19.02022 Q3 · Prepared remarks: +21.82022 Q4 · Prepared remarks: +10.02023 Q1 · Prepared remarks: +9.02023 Q2 · Prepared remarks: +11.22023 Q3 · Prepared remarks: +19.52023 Q4 · Prepared remarks: +17.52024 Q1 · Prepared remarks: +27.02024 Q2 · Prepared remarks: +25.62024 Q3 · Prepared remarks: +26.52024 Q4 · Prepared remarks: +25.82025 Q1 · Prepared remarks: +15.92025 Q2 · Prepared remarks: +26.02025 Q3 · Prepared remarks: +17.82008 Q4 · Q&A responses: +8.12009 Q1 · Q&A responses: +4.62009 Q2 · Q&A responses: -0.22009 Q3 · Q&A responses: +1.42009 Q4 · Q&A responses: +2.52010 Q2 · Q&A responses: +14.82010 Q3 · Q&A responses: +15.12010 Q4 · Q&A responses: +14.12011 Q3 · Q&A responses: +12.82011 Q4 · Q&A responses: +15.52012 Q1 · Q&A responses: +8.02012 Q2 · Q&A responses: +15.72012 Q3 · Q&A responses: +14.62012 Q4 · Q&A responses: +15.92013 Q1 · Q&A responses: +6.52013 Q2 · Q&A responses: +10.52013 Q3 · Q&A responses: +13.32013 Q4 · Q&A responses: +2.92014 Q1 · Q&A responses: +8.22014 Q2 · Q&A responses: +13.22014 Q3 · Q&A responses: +9.12014 Q4 · Q&A responses: +12.02015 Q1 · Q&A responses: +17.22015 Q2 · Q&A responses: +8.62015 Q3 · Q&A responses: +9.52016 Q1 · Q&A responses: +6.62016 Q2 · Q&A responses: +7.42016 Q3 · Q&A responses: +0.52016 Q4 · Q&A responses: +2.32017 Q1 · Q&A responses: +6.42017 Q2 · Q&A responses: +5.22017 Q3 · Q&A responses: -0.82019 Q3 · Q&A responses: +3.22019 Q4 · Q&A responses: +4.42020 Q1 · Q&A responses: +1.52020 Q2 · Q&A responses: +2.12020 Q4 · Q&A responses: +10.42021 Q1 · Q&A responses: +7.92021 Q2 · Q&A responses: +15.72021 Q4 · Q&A responses: +14.12022 Q1 · Q&A responses: +6.72022 Q2 · Q&A responses: +15.22022 Q3 · Q&A responses: +13.22022 Q4 · Q&A responses: +10.62023 Q1 · Q&A responses: +6.62023 Q2 · Q&A responses: +19.92023 Q3 · Q&A responses: +15.22023 Q4 · Q&A responses: +9.02024 Q1 · Q&A responses: +18.42024 Q2 · Q&A responses: +15.52024 Q3 · Q&A responses: +19.72024 Q4 · Q&A responses: +17.02025 Q1 · Q&A responses: +20.22025 Q2 · Q&A responses: +15.22025 Q3 · Q&A responses: +17.4
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$7.33$15.80$24.282008 Q22010 Q42013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42014 Q1: $8.502014 Q2: $8.972014 Q3: $9.542014 Q4: $10.142015 Q1: $10.562015 Q2: $10.982015 Q3: $11.232015 Q4: $11.412016 Q1: $11.892016 Q2: $12.142016 Q3: $12.502016 Q4: $12.992017 Q1: $13.282017 Q2: $13.752017 Q3: $14.112017 Q4: $14.032018 Q1: $16.372018 Q2: $17.662018 Q3: $18.282018 Q4: $17.482019 Q1: $17.612019 Q2: $16.392019 Q3: $13.652019 Q4: $12.152020 Q1: $11.112020 Q2: $9.962020 Q3: $15.422020 Q4: $17.382021 Q1: $18.662021 Q2: $20.392021 Q3: $21.932021 Q4: $21.122022 Q1: $22.392022 Q2: $22.642022 Q3: $23.112022 Q4: $16.262023 Q1: $16.452023 Q2: $18.772023 Q3: $18.912023 Q4: $20.602024 Q1: $20.912024 Q2: $21.192024 Q3: $21.842024 Q4: $20.84

Forward P/E

8.2013.0617.922008 Q22010 Q42013 Q32015 Q42018 Q12020 Q22022 Q32024 Q42014 Q1: 16.292014 Q2: 16.612014 Q3: 16.752014 Q4: 16.542015 Q1: 16.402015 Q2: 16.102015 Q3: 13.322015 Q4: 13.042016 Q1: 12.142016 Q2: 13.152016 Q3: 12.762016 Q4: 15.232017 Q1: 14.552017 Q2: 15.192017 Q3: 15.242017 Q4: 17.252018 Q1: 15.082018 Q2: 14.892018 Q3: 13.292018 Q4: 9.302019 Q1: 10.192019 Q2: 10.162019 Q3: 11.052019 Q4: 12.092020 Q1: 8.972020 Q2: 13.622020 Q3: 16.232020 Q4: 16.622021 Q1: 14.252021 Q2: 14.452021 Q3: 11.702021 Q4: 11.402022 Q1: 10.092022 Q2: 10.282022 Q3: 8.872022 Q4: 10.952023 Q1: 11.872023 Q2: 12.242023 Q3: 13.332023 Q4: 13.292024 Q1: 12.212024 Q2: 11.712024 Q3: 13.652024 Q4: 12.96

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q3 tone ↓ -3.6 fwd EPS ↑ +0.57 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q2 tone ↓ -7.7 fwd EPS ↑ +0.41 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q1 tone ↓ -5.6 fwd EPS ↑ +0.48 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↓ -3.9 fwd EPS ↑ +0.36 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q2 tone ↓ -3.7 fwd EPS ↑ +0.47 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -6.4 fwd EPS ↑ +2.34 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↑ +7.7 fwd EPS ↓ -2.73 Tone rose while the forward EPS estimate was cut.
  • 2020 Q3 tone ↓ -2.1 fwd EPS ↑ +5.46 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -3.3 fwd EPS ↑ +1.53 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↑ +4.1 fwd EPS ↓ -0.80 Tone rose while the forward EPS estimate was cut.
  • 2022 Q1 tone ↓ -6.7 fwd EPS ↑ +1.27 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -2.9 fwd EPS ↑ +0.47 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q1 tone ↓ -5.7 fwd EPS ↑ +0.19 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↓ -3.1 fwd EPS ↑ +1.69 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -4.0 fwd EPS ↑ +0.28 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q32025-03-20+13.3——View →
2025 Q22024-12-19+17.4——View →
2025 Q12024-09-19+11.7——View →
2024 Q42024-06-25+16.3$20.8413.0View →
2024 Q32024-03-21+17.3$21.8413.7View →
2024 Q22023-12-19+12.9$21.1911.7View →
2024 Q12023-09-20+16.9$20.9112.2View →
2023 Q42023-06-20+8.7$20.6013.3View →