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Home / Business / FedEx warns of "macroeconomic weakness and trade uncertainty" affecting business

FedEx warns of "macroeconomic weakness and trade uncertainty" affecting business



<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "FedEx ( FDX ) reported Tuesday, the ongoing trade uncertainty will affect its operations in the current fiscal year, while reporting better than expected fourth-quarter earnings, "Data-React =" 11 "> FedEx (FDX) reported on Tuesday that the ongoing trade uncertainty will affect its business in the current fiscal year, while reporting better than expected profit for the fourth quarter.

Memphis, Tennessee-based bid company posted adjusted earnings of $ 5.01 per share, beating consensus expectations for $ 4.81 per share, according to Bloomberg data. The quarterly revenue of $ 17.8 billion was in line with expectations.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "FedEx gave a weak view for the 2020 fiscal year, and says in a statement & nbsp; that "macroeconomic weakness and trade uncertainty, continued mix shift to lower benefits and a strategic decision In order not to renew a customer contract, it will adversely affect operating revenues. "data-response time =" 13 "> FedEx gave a weak view of the 2020 fiscal year and said in a statement that" macroeconomic weakness and trade uncertainty, continued mix shift to lower interrupt services and a strategic decision not to renew a customer contract will affect revenue negative. "

" Our fiscal 2020 impact is adversely affected by continued weakness in global trade and industrial production, especially on FedEx Express, "Alan B Graf, Jr., FedEx Executive Vice President and Chief Financial Officer, said in a statement. "As we adjust our costs to reduce revenue failures and market shifts, we will continue to invest in areas that expand our capabilities, improve our long-term efficiency, and reduce our costs to earn."

The company said it expects the Investments to total $ 5.9 billion in fiscal 2020, compared to $ 6.166 billion in all-year-round capex expected by consensus analysts.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "FedEx shares fluctuated between gains and losses after the market terminal Tuesday The company's share has fallen 3.3% for the past year, against a 16.3% gain in S&P 500 ( ^ GSPC ). "data-response time =" 16 "> FedEx shares fluctuated between gains and losses after the market on Tuesday. The company's share has fallen 3.3% this year, compared to a 16.3% gain in S&P 500 (^ GSPC).

Earlier, FedEx sank its fiscal 2019 earnings guidance in both March and December with time management citing a softer macroeconomic environment in Asia and Europe.

Investors on Tuesday followed closely the company's up-to-date fiscal policy outlook 2020 for signals of the impact of ongoing geopolitical concerns.

The international courier company is in fact swept

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0,8) em) – sm" type = "text" content = "FedEx & nbsp; announced on Monday that it filed a lawsuit & nbsp; against the US Commerce Department over the Trump Administration's export rules related to restrictions on Chinese telecommunications giant Huawei." data-response time = "20"> FedEx announced on Monday that it filed a lawsuit against the US Commerce Department over the Trump Administration's export rules related to Chinese telecommunications giant Huawei.

Litigation comes after the US government in May added Huawei to a list of entities barred from receiving US technology without a Commerce Department license. Shortly thereafter, Huawei complained that FedEx had delivered several of its packages to the wrong addresses, and was a survey by FedEx of China.

People visit a FedEx Express fair in China International Import Expo (CIIE) at the National Exhibition and Conference Center in Shanghai, China November 7, 2018. Photo taken November 7, 2018. REUTERS / Stringer

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In a & nbsp; FedEx said the export restriction rules" in Essentially, Deputies FedEx to politicize the contents of millions of packages it sends daily, though doing so is a virtually impossible task, logistically, economically, and in many cases legal. "FedEx claims it should not be liable in the event that it accidentally sends products that violate the Trump administration's limitations." data-response time = "33"> In a court connection, FedEx said that the export restrictions "mainly deputies FedEx to the police the contents of millions of packages sent daily, even though doing so is a virtually impossible task, logistically, economically, and in many FedEx claims it should not be liable if it accidentally sends products that violate the Trump management restrictions.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Macroeconomic concerns, except, FedEx has also met The headwinds at home The e-commerce giant Amazon ( AMZN ) has been & nbsp; pushed deeper into the delivery area, & nbsp; threatens to attack FedEx key business. "> Macroeconomic concerns aside, FedEx has also faced the headwinds at home. E-commerce giant Amazon (AMZN) has pushed deeper into the delivery area and threatens to violate FedEx's main business.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – FedEx announced it decided not to renew & nbsp; a US domestic contract to fly packages for Amazon.com, with the current deal ending June 30. Less than 1.3% of FedEx's total revenue for the 12 months expiring on December 31, can be attributed to Amazon, FedEx stated in a statement . " data-response time = "35"> Earlier this month, FedEx announced that it decided not to renew a US domestic agreement to fly packages for Amazon.com, with the current agreement ending June 30. Less than 1.3% of FedEx's total revenue for the 12 months ended December 31, could be attributed to Amazon, FedEx said in a statement.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" con telt = " This post breaks. updates. "data-reactid =" 36 "> This post breaks. Check back for updates.

<p class = "canvas-atom canvas text Mb 1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Emily McCormick is reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck "data-reactid =" 38 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

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