Earnings Results: FedEx shares rally as cost cuts help profit outlook

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 helped its bottom line despite continued weaker shipping demand that weighed on sales. FedEx FDX said it expected adjusted profit per share of $17.00 to $18.50 for its full fiscal year, up from a prior forecast of $16.50 to $18.50. However, executives said they expected “approximately flat” sales for its fiscal year, which ends in May, compared to earlier expectations…

Article Attribution | Read More at Article Source

Share This