FedEx Corp. has cut its profit outlook for a third consecutive quarter, citing continued weakness and uncertainty in the US industrial economy. The demand weakness pressured FedEx’s higher-margin business-to-business volumes.
The move comes as the US economy faces increasing challenges, including rising interest rates and global trade tensions. FedEx Chief Executive Raj Subramaniam attributed the decline to “continued weakness and uncertainty” affecting the company’s business-to-business segments.
For the third time in a row, FedEx has lowered its profit expectations, indicating a concerning trend in the economy. As investors continue to monitor economic developments, FedEx’s decision serves as a warning sign for the broader market.
Source: https://www.marketwatch.com/story/fedex-is-the-latest-company-to-sound-the-alarm-on-the-u-s-economy-fedc00ed