FedEx Corp. announced a sharp decline in expected profits due to ongoing challenges from President Trump's trade policies, which have severely affected its business outlook. The company foresees adjusted earnings between $3.40 and $4 per share for the fiscal first quarter, below analyst expectations of $4.03. The decline in shipments, particularly on the US-China route, and a global demand environment hinder the firm's ability to provide a full-year forecast for the first time in 13 years, raising concerns among investors and analysts alike about future performance.
FedEx Corp. is facing a significant downturn in profits this quarter due to President Trump’s trade war, causing uncertainty for the remainder of the year.
The shipping giant's stock fell 5.6% after reporting weak quarterly results, reflecting growing investor concerns amid declining global shipments.
FedEx's outlook for this quarter is cautious, emphasizing factors like the 'uncertain global demand environment,' challenging business predictions.
Analysts highlight fears regarding the withholding of FedEx's full-year guidance, marking the first time in over 13 years that such projections were absent.
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