FedEx quarterly profit disappoints as demand for speedy delivery wanes
FedEx reported a steep quarterly profit drop and lowered its full-year revenue forecast on Thursday after its customers continued to trade down from speedy, pricey delivery to cheaper, slower options.
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 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 reports drop in quarterly earnings on lower demand for priority services
FedEx reported a drop in first-quarter profit on Thursday and lowered the top end of its annual profit forecast as demand in the package industry remained muted, especially for priority services. The company's shares fell about 11% to $268.
FedEx shares fall sharply after missing on revenue and earnings, lowering guidance
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FedEx sends a shiver throughout the transportation and logistics sectors with soft guidance
FedEx (NYSE:FDX) slumped in early trading on Friday after the Memphis-based company's downside guidance rattled investors.
FedEx Reports Flat Q1 Revenue, Lower EPS
FedEx came up short on top and bottom lines, and guidance revisions suggest there is more bad news to come in fiscal 2025.
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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.