04:35 PM EDT, 09/19/2024 (MT Newswires) -- FedEx ( FDX ) reported fiscal Q1 adjusted earnings late Thursday of $3.60 per diluted share, down from $4.55 a year earlier.

Analysts polled by Capital IQ expected $4.77.

Revenue for the quarter ended Aug. 31 was $21.6 billion, down from $21.7 billion a year earlier.

Analysts surveyed by Capital IQ expected $21.91 billion.

For fiscal 2025, the company said it now expects a low single-digit percentage revenue growth rate year on year, compared with the previous forecast of a low-to-mid single-digit percentage increase. Analysts polled by Capital IQ expect $89.82 billion.

The firm said it completed a $1 billion accelerated share repurchase transaction in the quarter, with about 3.4 million shares delivered as part of the ASR agreement.

FedEx ( FDX ) anticipates buying back an additional $1.5 billion of common stock in fiscal 2025, bringing the buyback total to $2.5 billion. As of Aug. 31, $4.1 billion remained available for repurchases, as per the company's 2024 stock repurchase plan, according to the company.

The company's shares were falling nearly 9% in after-hours trading.

Price: 273.55, Change: -26.84, Percent Change: -8.93