How FedEx Corp. performed in its fiscal first quarter could have a lot to do with some bad things that happened to a couple of the package delivery company’s competitors.
And when UPS reported second-quarter results last month, the company said it experienced more volume diversion than expected, as negotiations leading up to a tentative agreement grew “late and loud.” FedEx is slated to report results for the quarter through August on Wednesday, after the closing bell.
But as Evercore’s Chappell said, as important as first-quarter results will be, as the company looks to build a track record of meeting or beating expectations, “the full-year guide will matter the most.”
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