FedEx Trims Outlook on Weak Freight Demand

FedEx Trims Outlook on Weak Freight Demand


FedEx said it is now expecting earnings of $10.40 to $10.90 for the year ending next May, down from its previous guidance of $10.60 to $11.10 a share.

The shipper said it is benefiting from its restructuring plans, but the company is seeing weak less-than-truckload demand at its freight segment, high self-insurance reserves, and higher operating costs at FedEx Ground.
FedEx "is performing solidly given weaker-than-expected economic conditions, especially in manufacturing and global trade," Chief Executive Frederick W. Smith said in a news release.
FedEx said it is seeing improvements from its cost-cutting plans, but it is experiencing weaker less-than-truckload demand and higher-than-expected self-insurance reserves, on top of higher operating costs at FedEx Ground.

We're hurting so take that!


FedEx to Raise Shipping Rates in January

  FedEx says it will raise a number of shipping rates in January, and will increase the surcharge on very large packages starting in November.
FedEx Express, FedEx Ground, FedEx Home Delivery and FedEx Freight shipping rates will rise an average of 4.9 percent on Jan. 4.