FedEx reported earnings of $3.75 per diluted share for the fiscal quarter that ended May 31. (Daily News File/Andrew J. Breig)

Memphis-based FedEx Corp. reported a record Q4 and full-year earnings at its fourth-quarter earnings call Tuesday, June 20.

The shipping giant reported earnings of $3.75 per diluted share for the fiscal quarter that ended May 31, and net income of just over $1 billion.

“Strong fourth quarter results completed a record fiscal 2017,” said Fred Smith, FedEx Corp. chairman and chief executive officer. “We enter fiscal 2018 confident FedEx Corp. will continue to deliver outstanding value and opportunities for shareowners, customers and team members for years to come.”

These figures were near the average consensus forecast for profit, which was $3.89 per share, according to Zacks Investment Research.

“We finished the year strong with an adjusted EPS of $12.30, up 14 percent,” Alan B. Graf Jr., FedEx executive vice president and CFO, said. “Results benefitted from higher base rates and increased volume. Also, Express continued to manage cost while integrating TNT.”

FedEx acquired Dutch shipping company TNT Express N.V. for $4.8 billion in June 2016.

Graf said the higher rates and shipping volume were partially offset by higher network expansion costs at FedEx Ground.

Revenues for the company rose to $15.7 billion from $13 billion a year ago, with an operating margin of 10.1 percent.

FedEx also reported full-year net income of $3 billion and diluted EPS of $11.07, which are up, respectively, from $1.82 billion and $6.51 for the 2016 fiscal year.

Fiscal 2017 revenues rose to $60.3 billion from $50.4 billion a year ago, and boasted a full-year operating margin of 8.4 percent.

“FY17 capital expenditure was $5.1 billion, with several Ground expansion projects deferred into 2018 and beyond,” Graf said.

Additionally, FedEx acquired 2.96 million shares of its own common stock at an average price of $172.13 throughout the year.

“As of May 31, we have approximately 16 million remaining shares authorized for repurchase,” Graf added.

Looking forward, executives forecasted another record peak season later this year with multiple days that will set records for package pickup and delivery.

“We continue to work directly with a relatively small number of large customers that provide the majority of the surge in demand to ensure that we have the appropriate pricing related to volume expectations and capacity needs,” Raj Subramaniam, executive vice president of Global Strategy, Marketing and Communications for FedEx, said.

Subramaniam said FedEx is also experiencing growth and demand in large and heavy package delivery, as more and more products become available for online purchase.

“Furniture, mattresses and sports and exercise equipment are increasingly moving through the FedEx Ground network for essential delivery,” he said. “We are continuing to analyze pricing and surcharges for oversized packages to ensure that we have proper pricing for the service provider.”