1630 ET - FedEx cut its outlook for the year after it experienced soft demand for business-to-business shipments in its fiscal 3Q, stemming from continued weakness and uncertainty in America's industrial economy. The package-shipping company--which now expects sales to be slightly down from last year--said the guide assumes its current economic forecast and fuel price expectations, as well as no additional adverse economic, geopolitical or international trade-related developments. "Despite this uncertainty, I'm confident we are well positioned to execute on our transformation initiatives," CFO John Dietrich says. Shares fall 4.2% after hours. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 20, 2025 16:30 ET (20:30 GMT)
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