FedEx, United States Metal, Scholastic & extra
Take a look at the companies that make the headlines after hours.
FedEx – The shipper’s shares fell more than 3% after the close of trading, despite FedEx beating estimates for sales and earnings in the second quarter. During the period, the company made $ 4.83 out of stock on sales of $ 20.56 billion. Analysts polled by Refinitiv expected earnings of $ 4.01 per share and revenue of $ 19.46 billion. The company has not presented a profit forecast for fiscal year 2021. However, FedEx expects “earnings growth in the second half of fiscal 2021”.
Steelcase – The furniture maker’s shares were down more than 5% after the company posted a 39% year-over-year order drop in the third quarter. Steelcase said it made 8 cents per share on an adjusted basis for the period, which FactSet said was 3 cents ahead of estimates. Revenue was $ 617.5 million, falling short of $ 628.8 million.
United States Steel – The steelmaker’s stocks were down more than 3% after the company issued updated guidance for the fourth quarter. US steel expects a loss of 85 cents per share. Analysts surveyed by FactSet forecast a loss of 60 percent per share. The company is expected to release fourth quarter results on February 21 after the market closes.
Scholastic Corporation – Shares in the publisher were down more than 9% after the company reported that adjusted earnings per share were down 44% year over year. “Although the company remains optimistic about the prospects for the return of children to classrooms and the adoption of a COVID stimulus package for schools given the continued variability in school teaching patterns and schedules, as well as the possibility of new COVID outbreaks and their possible impact on schools, Scholastic does not provide a financial outlook for fiscal year 2021, “the company said in a statement.
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