FedEx Shares Tumble Amid Weak Demand for Priority Deliveries
(Reuters) - 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. Shares of the company were down nearly 13% in premarket trading, with rival UPS down 2.4%.
FedEx cites weaker than expected demand from manufacturers with many ditching priority shipping for cheaper options.
FedEx reported revenue of $21.6 billion and adjusted earnings of $3.60 per share, well below our estimates of $22.1 billion, ...
Hold rating with short-term gain potential, but long-term investment remains unattractive. Explore more details here.
Shipping giants FedEx and UPS shares are trading lower Friday after FedEx reported worse-than-expected quarterly results and ...
Shares in FedEx (FDX) fell after the package-shipping company cut its full-year financial outlook. Late Thursday, FedEx also ...
FedEx Corp ( NYSE:FDX) has implemented significant new pricing actions, including demand and fuel surcharges, which are ...
FedEx also saw its adjusted operating margin expand by 40 bps to 8.5% in Q4’24. This clubbed with a 2% decline in average ...
FedEx’s results were dragged down by a shift in the mix of it business that saw reduced demand for priority services, ...
FedEx Corp. warned its business would slow in the year ahead and reported a worse-than-expected quarterly profit in an ominous sign about the direction of the US economy.
FedEx cuts its fiscal-year outlook following weaker-than-expected fiscal first-quarter earnings, while Nike stock rallies ...
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