Quarterly shocks: CNXC, MU, FDX
Connex ($CNXC) missed Q1 EPS at $2.61 (‑6.45% YoY) but beat revenue at $2.5B (+5.4%) and gave softer Q2 guidance — a mixed print that trimmed near‑term visibility. (x.com) Micron ($MU) reported a sales surge that effectively tripled its top line in the quarter, while FedEx ($FDX) raised guidance after a stronger result — a sign of bifurcation across tech and logistics. (x.com) (x.com)
Concentrix reported operating income of $118.6 million and non‑GAAP operating income of $295.0 million in the quarter, with non‑GAAP operating margin down to 11.8% from 13.6% a year earlier. (ir.concentrix.com) The company used $83.2 million of cash from operations and posted an adjusted free‑cash‑flow use of $144.6 million, while repurchasing about 1 million shares for $42.0 million and keeping a $0.36 quarterly dividend. (ir.concentrix.com) Management guided Q2 revenue to roughly $2.46–$2.485 billion and said it expects margin compression in H1 before expansion in H2, citing vertical mix effects (banking up double digits, tech and healthcare down ~6% each). (marketbeat.com) Micron posted $23.86 billion in quarterly revenue and $12.20 of adjusted EPS as DRAM revenue reached about $18.8 billion, driven by tight memory supply and AI demand. (cnbc.com) The company guided the next quarter to roughly $33.5 billion in revenue (±$750 million), about $19.15 in adjusted EPS and gross‑margin guidance near 81%, while flagging a record free cash flow quarter and a net cash position around $6.5 billion. (cnbc.com) FedEx delivered $24.0 billion of third‑quarter revenue and $5.25 of adjusted diluted EPS and said stronger package yields plus Network 2.0 cost savings helped performance. (investors.fedex.com) After the beat, FedEx lifted its fiscal‑2026 revenue growth outlook to about 6.0%–6.5% year‑over‑year and raised adjusted full‑year EPS guidance to a range of $19.30–$20.10, and it reconfirmed the planned FedEx Freight spin‑off for June 1, 2026. (investing.com)
