Trending: FedEx Working to Reduce Costs
December 21 2022 - 2:09PM
Dow Jones News
1337 EST -- FedEx Corp. is one of the most talked-about
companies in the U.S. across all news items in the last 12 hours,
according to Factiva data. The company reported second-quarter
earnings after the bell Tuesday, and said it was "prioritizing
actions to quickly reduce costs in order to align fiscal 2023 costs
with weaker-than-expected volume." FedEx said it now expects to
generate total fiscal 2023 cost savings of about $3.7 billion
relative to its initial fiscal 2023 business plan. The company
reported second-quarter earnings per share of $3.07 on revenue of
$22.8 billion. In the year-ago period, FedEx reported EPS of $3.88
on revenue of $23.5 billion. Dow Jones & Co. owns Factiva.
(stephen.nakrosis@wsj.com)
(END) Dow Jones Newswires
December 21, 2022 13:54 ET (18:54 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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