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FedEx’s Revenue Falls, Operating Income Tumbles in Fiscal Second Quarter

publication date: Dec 23, 2022
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Image: FedEx’s forecast for fiscal 2023 earnings have almost been halved since it gave guidance in June of this calendar year. Image Source: FedEx.

We thought FedEx would be able to offset weakness in its business with yield and cost savings initiatives, but things have deteriorated even further than what we had been expecting. Revenue faced considerable pressure during the company’s second-quarter fiscal 2023 results, while operating income tumbled more than 60% in the period. The firm has now cut its fiscal 2023 earnings per share forecast practically in half since it gave updated guidance in June of calendar 2022, and its financial targets for fiscal 2025 may be in jeopardy. We’re no longer evaluating FedEx for inclusion in the Dividend Growth Newsletter portfolio, despite shares yielding ~2.6% at the time of this writing.


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