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FedEx shares in low volume ahead Earnings Report

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Transport giant #FedEx Expected to release fiscal second quarter 2023 financial results on Tuesday (20/12), at market close. The company previously announced cost-cutting plans, including plans for layoffs and the possibility of flying planes during holidays. Raj Subramaniam, who was appointed CEO in March, will lead the earnings call.

This will be the first FedEx quarterly results report since September, when FedEx announced that it would reduce costs by $2.2 billion to $2.7 billion in fiscal year 2019. These cuts follow a disappointing first quarter earnings report. The company’s last quarterly results report was released on Thursday, 22 September. The shipping company posted earnings per share of $3.44 for the quarter, the company’s revenue came in at $23.2 billion. FedEx achieved a net margin (3.79%) and a return-on-equity (20.95%). Compared to the same quarter of the previous year, the company’s quarterly revenue increased by 5.4%. During the same time last year, the company earned $4.37 in earnings.

FedEx announced a number of cost-cutting measures recently, including the furloughing of FedEx Freight employees November to meet slow demand. The company also took other steps…



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