FedEx shares tumble amid weak demand for priority deliveries [Yahoo! Finance Canada]
FedEx Corporation (FDX)
Last fedex corporation earnings: 3/17 04:03 pm
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Source: Yahoo! Finance Canada
(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, which is seen as a bellwether for worldwide economic trade, attributed the fall in its profits to waning demand for priority shipments between businesses as customers try to curb expenses. CEO Raj Subramaniam said industrial demand was softer than expected. The company now expects revenue for fiscal 2025 to grow by a low single-digit percentage compared with a low-to-mid single-digit percentage growth it forecast earlier. FedEx also lowered the top end of its full-year adjusted operating income to between $20 and $21 per share, versus its previous range of $20 to $22 per share. "The lower end of the EPS range reflects assumptions that the pricing environment continues to be v
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FDX
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- 9/19/24 - Miss
FDX
Sec Filings
- 9/19/24 - Form 10-Q
- 9/19/24 - Form 8-K
- 9/3/24 - Form 8-K
- FDX's page on the SEC website