FedEx Corp. reported first-quarter earnings after Thursday’s market close that were significantly lower than expected as customers traded down to economy delivery services and demand lagged, disappointing investors and triggering an 11% drop in the share price in late trading.
The express logistics provider lowered its guidance for the fiscal year, saying it now expects low-single-digit percentage revenue growth compared to the prior forecast of a low-to-mid-digit increase. It also narrowed the...
https://www.freightwaves.com/news/fedex-results-hurt-by-weak-demand-fewer-premium-customers