Home Trading FedEx shares show low volume in advance of Earnings Report

FedEx shares show low volume in advance of Earnings Report


Transport giant #FedEx Expected to release fiscal second quarter 2023 financial results on Tuesday (20/12), at market close. The company has previously announced cost-cutting initiatives, including plans to layoff workers and fly planes during holiday season. Raj Subramaniam, who was appointed CEO in March, will lead the earnings call.

This will be the first FedEx quarterly results report since September, when FedEx announced that it would reduce costs by $2.2 billion to $2.7 billion in fiscal year 2019. These cuts follow a disappointing first quarter earnings report. The company’s last quarterly results report was released on Thursday, 22 September. The shipping company posted earnings per share of $3.44 for the quarter, the company’s revenue came in at $23.2 billion. FedEx posted a net margin at 3.79% and a return on equity of 20.95%. Compared to the same quarter of the previous year, the company’s quarterly revenue increased by 5.4%. During the same period last fiscal year, the business earned $4.37 per share.

FedEx announced a number of cost-cutting measures recently, including the furloughing of FedEx Freight employees November to meet slow demand. Others steps taken by the company…

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