FedEx Shares Drop 10% Amid Revised Revenue Forecast

Key Details:
📍 FedEx's shares plunged about 10% in early trading following a revised revenue forecast indicating weaker demand.

📍 The company now anticipates a low-single-digit revenue decline for the fiscal year, adjusting down from previously expected flat sales.

📍 Analysts had projected a less than 1% revenue drop for the current fiscal year, per LSEG.

📍 This marks the second consecutive quarter where FedEx has reduced its sales outlook.

📍 FedEx's Express unit faced notable challenges this quarter with reduced demand and shifts to more economical services.

📍 Volatile macroeconomic conditions are expected to continue impacting revenue across FedEx's transportation segments.