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FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.
The company also lowered its financial outlook for the fiscal year ahead, projecting earnings per share between $20 and $21 versus its prior range of $20 to $22. That sent shares tumbling nearly 15%.
Softness in the European economy as well as decelerating global trade might ail FedEx's (FDX) Q3 results.
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FedEx missed on earnings but beat the revenue estimates. The parcel company issued a stronger-than-expected full-year forecast for fiscal 2023.
FedEx Freight reported $2.4 billion in revenue in the second Q2 of the 2024 fiscal year, compared to $2.5 billion in Q2 of the 2023 fiscal year. However, FedEx Freight's operating income jumped 11 ...
In its consensus estimate, Wall Street was projecting a year-over-year revenue surge of 9%, reaching $17.186 billion, according to data from a survey carried out by Zacks. FedEx Corporation Stock ...
The shortfall in FedEx Ground, the unit that is tied closely to e-commerce deliveries in the U.S., has read-through implications for the U.S. consumer and operators in the digital economy.