FedEx results hurt by weak demand, fewer premium customers
FedEx Freight, the less-than-truckload segment, was negatively impacted by a decline in weight per shipment and reduced priority shipments, partly offset by a higher base yield. Revenue was $2.3 billion, 2% lower than the prior year. The company said it closed seven small-market terminals last year as part of its strategy to streamline the network.
FedEx shares tumble 16% on limp demand, delivery trade-down
By Shivansh Tiwary and Lisa Baertlein (Reuters) -Shares of FedEx slumped almost 16% on Friday, the worst in two years, after a dismal first-quarter profit drop due to anemic economic conditions and an ongoing customer shift toward slower,
FedEx Stock Sinks After Company Cuts Outlook
Shares in FedEx (FDX) fell after the package-shipping company cut its full-year financial outlook. Late Thursday, FedEx also posted lower quarterly profit and revenue. Weaker-than-expected demand, particularly in the U.
FedEx earnings miss could signal a slowing economy
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.
FedEx shares tumble over 15% on limp demand, delivery trade-down
FedEx Corp shares slumped on Friday after the parcel giant cut its annual revenue forecast and reported a sharp fall in profits, owing to weak demand for high-margin speedy delivery services.
FedEx’s lower full-year forecast sinks its stock, as customers look to save on deliveries
The package-delivery giant said reduced demand for priority services and higher operating costs weighed on its results.
Markets ease after rate-cut rally; FedEx slips 15%
FedEx shares dragged on the market with a drop of 15.2% after its profit and revenue for the latest quarter fell short of analysts' expectations. It said U.S. customers sent fewer packages through priority services,
FedEx Stock Dips: Another Reason to Fear Recession Is Near
FedEx Corporation (NYSE: FDX) is a solid business, but its latest results give another reason to fear that a recession is near. The company underperformed in all metrics, contracting versus an expectation to grow and reducing guidance in what may be the first of several reductions this year.
FedEx flags major shift in consumer behavior that’s hurting profits
The shipping carrier is calling out a growing trend that speaks volumes about the current state of the industrial economy.
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