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FedEx highlights 'weaker demand environment' and says it's cutting costs
The earliest indications on a weakening US consumer and economy will come on the corporate side and FedEx is often a bellwether. The company's quarterly revenue missed estimates of $23.74B by a fair bit at $22.80B but made the earnings work.
Notably, the company guided softer for 2023 and took down its spending guidance to $5.9B from $6.3B. The company also said it found $1 billion in additional cost savings.
None of these trends resonate well for the US outlook in 2023 and the F... Read More
Posted: Dec 20 2022, 21:21
Author Name: forexlive
Views: 110880