News / FedEx to ground aircraft after weak market forces profit warning

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Logistics stocks faced a battering after FedEx withdrew its forecast, following an “earnings miss of epic proportions”.

A trading update released yesterday showed Q1 results were well below expectations, with FedEx Express seeing a revenue shortfall of $500m and FedEx Ground missing revenue forecasts by $300m.

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    Cost consciousness FedEx FedEx Express FedEx Ground financial results Profit warning