By Ben Glickman

FedEx lowered its forecast for full-year revenue after weaker demand continued to pressure the company's sales in the fiscal second quarter.

The Memphis, Tenn.-based package-shipping company said it now expects full-year revenue to decline in the low-single digits, compared with prior outlook of flat revenue growth. Analysts polled by FactSet are expecting a decline of less than 1%.

The company's revenue fell more than expected in the fiscal second quarter, but FedEx expanded its profit as cost cutting initiatives boosted margins.

FedEx is expecting per-share earnings of $15.35 to $16.85, compared with earlier guidance of $15.10 to $16.60 a share. Analysts polled by FactSet expect full-year profit of $17.42.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

December 19, 2023 16:39 ET (21:39 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
FedEx (NYSE:FDX)
Historical Stock Chart
Von Apr 2024 bis Mai 2024 Click Here for more FedEx Charts.
FedEx (NYSE:FDX)
Historical Stock Chart
Von Mai 2023 bis Mai 2024 Click Here for more FedEx Charts.