FedEx Corp. received a record net profit for the fourth quarter of fiscal year 2021. The company's March-May net income was $ 1.87 billion, or $ 6.88 per share, compared with a net loss of $ 334 million, or $ 1.28 per share, for the comparable period last year. Earnings excluding one-off factors rose to $ 5.01 per share from $ 2.53. Revenue rose to $ 22.6 billion from $ 17.4 billion a year earlier. Market analysts had forecast FedEx's adjusted earnings of $ 5.02 per share on $ 21.5 billion in revenue.
FedEx management did not forecast financial performance for fiscal 2022 due to the inability to predict the size of retirement plan adjustments, but management expects adjusted earnings in the range of $ 20.5-21.5 per share. For comparison, the indicator at the end of the 2021 fiscal year increased to $ 19.45 compared to the market forecast of $ 18.14 and the indicator for the last year at $ 4.9. Notably, FedEx raised its quarterly dividend by 15% to 75 cents per share from 65 cents. Payments will begin on July 12, the register of shareholders will close on June 28.
We like the company as we believe that the consumer paradigm shift during the pandemic will support the e-commerce market. Growth in global trade amid global economic recovery and FedEx's geographic expansion through the TNT acquisition will be the main drivers of growth for the company's business.
FedEx Corp. provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of +$69 Bn inFY20, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand.