FedEx’s Woes Not Limited To Thanksgiving Timing, Trade War — Panjiva
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FedEx’s Woes Not Limited To Thanksgiving Timing, Trade War

Corp - Forwarders 344 Earnings 744 Mode - Seaborne 1823 U.S. 5354

FedEx reported lower-than-expected revenues for the fiscal quarter ending Nov. 30. Revenues fell by 3.0% year over year versus an unchanged figure forecast by analysts according to S&P Global Market Intelligence figures. Profitability also fell with an EBITDA margin of 9.4% versus 12.1% a year earlier. FedEx’s lower revenues included the earlier Thanksgiving holiday as well as the drag from lower Transpacific shipping. Total freight volumes handled by FedEx across all modes and regions fell 6.0% year over year, while seaborne imports to the U.S. dropped by 9.6%. The latter included a 17....

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