This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.
Hit by rising labor costs and supply-chain issues, the parcel-shipping giant FedEx reported lower earnings than expected and cut its financial forecasts for the full year. Now Wall Street has concerns about the outlook.
Tuesday evening, FedEx (ticker: FDX) reported $4.37 in adjusted per-share earnings from $22 billion in sales for the first quarter of its 2022 fiscal year. A year earlier, FedEx earned $4.87 a share from $19.3 billion of sales, so profits fell even as sales rose.