Transportation
FedEx Falls After Outlook Cut Again Amid Economic Worries
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FedEx Corp. shares tumbled after the parcel delivery company lowered its full-year guidance for a third consecutive quarter, citing inflation and uncertain demand for shipments.
Adjusted earnings are now expected to be in the range of $18 to $18.60 per share this fiscal year, below the $18.95 average analyst estimate. FedEx also cautioned that revenue may be slightly down versus the prior year, compared to its previous expectation that sales would be roughly flat.