News / 'Challenging' third quarter for FedEx as 'tough operational winter' hits revenue

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FedEx has announced disappointing results following a “challenging” third quarter.

As chairman and chief executive Fred Smith noted, the full-year plan had envisaged $6bn in revenue growth – but this was downgraded to $4.5bn, “mostly due to lower economic growth in international regions”. 

Reported revenue for Q3 inched up $500m, year on year, to $17bn, while adjusted operating margins were flat at 5.8%. Adjusted net income fell from $1.02bn to $797m. 

Mr Smith added: “We’re under?reported, I think, because of the government shutdown and the trade ...