FedEx shares are trading lower after the company reported Q4 revenue miss. The company also issued FY24 outlook which missed the consensus estimate. CFO said he expects margin contraction for the year.
Portfolio Pulse from Benzinga Newsdesk
FedEx reported Q4 revenue miss and issued a weaker FY24 outlook, missing consensus estimates. The CFO expects margin contraction for the year.
June 21, 2023 | 11:13 am
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FedEx shares are trading lower due to Q4 revenue miss and weaker FY24 outlook, with expected margin contraction.
FedEx reported lower than expected Q4 revenue and issued a weaker FY24 outlook, missing consensus estimates. The CFO also expects margin contraction for the year, which is likely to negatively impact the stock price in the short term.
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