FedEx raises full-year earnings forecast after cost cuts, shares soar

A FedEx last-mile delivery van is seen near a FedEx Ground distribution center in Carson, California, U.S., September 16, 2022. REUTERS/Bing Guanon Thursday raised its fiscal 2023 profit forecast despite weak market conditions, citing progress on its plan to shave $3.7 billion in costs from its global delivery business, sending its shares up more than 11%.

It faces a balancing act of matching costs and capacity with waning demand for its services in an economy threatened by the war in Ukraine, bank failures and growing recession concerns.

They've cut all of their employees work hours. -.-

FedEx treats it's customers and employees badly.

We screwed a bunch of little guys so our big rich guys can continue to light cigar’s with $100’s… Our stock will rise high!

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FedEx hikes 2023 earnings forecast as cost-cutting initiatives bear fruitFedEx hiked its 2023 earnings forecast on Thursday, citing cost-cutting measures that offset continued demand weakness. Buybacks** Does their cost cutting include .y shipments being delayed 50% of the time? I can't be the only one that this happens to, no issues with UPS so that's the only carrier I'd buy. Employees dropping like flies. FedEx has failed to remain competitive in wages and no longer attracts a high level of applicants. They have become what they used to mock. fedex peopleserviceprofit- nope.
Source: CNBC - 🏆 12. / 72 Read more »