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StockWatch: FedEx Lowers Outlook on Earnings Miss!

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American delivery firm FedEx Corp (FDX.N) posted a 7% drop in quarterly profit and cut its full-year forecast yesterday.

Labor shortages hit earnings, slowed packages, and drove up costs ahead of the all-important holiday peak season.

Competitor United Parcel Service Inc (UPS) is also looking at trouble ahead.

The company is anxious about the resurgence of Delta variant infections threatening to increase delivery demand during winter.

Timestamps:

  • FDX 02:00
  • UPS 03:25

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