0819 ET - FedEx is battling a tepid industrial backdrop and uncertain demand but its cost-reduction plan seems to be moving forward, Raymond James analysts Patrick Tyler Brown and David Hicks say. FedEx lowered guidance for 2025, which the analysts attribute to shifting global trade policy and lingering cost inflation. At the same time, FedEx has ramped up savings through its DRIVE program, an effort to optimize operations and improve profitability. About $670 million in savings is expected in 4Q and another $400 million from the annualization of benefits is set for 2026, the analysts say. FedEx is also pushing forward the spin-out of its freight business. Shares fall 8% to $227 premarket. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
March 21, 2025 08:19 ET (12:19 GMT)
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