Fedex: withdraws annual targets
(CercleFinance.com) - Due to the preliminary financial performance of Q1 and expectations of an operating environment that remains volatile, on Thursday evening the logistics company FedEx withdrew its earnings guidance for FY 2022-23, as provided on 23 June.
While continuing to cut costs, and expecting business conditions to weaken further in Q2, it forecasts revenue for that period of 23.5-to-24 billion dollars, along with adjusted EPS of at least 2.75 dollars.
For the first three months of the year, FedEx reported adjusted EPS that is down 21% at 3.44 dollars on revenue that is up 5.5% at 23.2 billion dollars, impacted by global volume weakness that accelerated in the final weeks of the quarter.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
While continuing to cut costs, and expecting business conditions to weaken further in Q2, it forecasts revenue for that period of 23.5-to-24 billion dollars, along with adjusted EPS of at least 2.75 dollars.
For the first three months of the year, FedEx reported adjusted EPS that is down 21% at 3.44 dollars on revenue that is up 5.5% at 23.2 billion dollars, impacted by global volume weakness that accelerated in the final weeks of the quarter.
Copyright (c) 2022 CercleFinance.com. All rights reserved.