Earnings Results: FedEx cites ‘upside’ from UPS labor negotiations and Yellow’s bankruptcy — but Postal Service is giving it a run for its money

by | Sep 20, 2023 | Stock Market

Shares of FedEx Corp. rallied after hours on Wednesday after the package deliverer raised its full-year profit outlook, as efforts to cut billions in costs — and disruptions at some of its main rivals — helped quarterly results despite continued weaker shipping demand that weighed on sales. Executives, during FedEx’s FDX earnings call, said the company had gained “upside” from sometimes-tense negotiations between archrival United Parcel Service Inc. and the Teamsters union earlier this year and the bankruptcy filing of trucking…

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