Comment / FedEx's belt-tightening on track... while goading UPS

ID 23678049 © Larryhw | Dreamstime.com

FedEx’s fiscal Q1 24 results to end-August were mesmerising, despite revenues that were a touch light against expectations. Out yesterday, 20 September, after the US market closed, they were solid at bottom line level.

Despite a re-stocking cycle that isn’t helping, really.

Despite revised guidance now pointing to flat revenue year-on-year against prior projections “of flat to low-single-digit-percent revenue growth”.

Despite forward-looking, annual earnings per diluted share of between $15.1 and $16.6 “before the MTM retirement plans accounting adjustments, compared to the prior forecast of $15 ...