FedEx boosts annual profit outlook on strong Q3 results
FedEx raised its annual profit forecast after reporting third-quarter results above estimates. The company sees no jet fuel supply impact from the Iran war.
FedEx Corporation, known for its global overnight delivery network, has raised its full-year profit forecast following a third-quarter performance that exceeded market expectations, despite the ongoing conflict in Iran. Chief Financial Officer John Dietrich noted that the company has not seen its jet fuel supplies impacted by the war, which currently affects only a small portion of its global operations.
The logistics giant reported earnings and revenue above Wall Street estimates, bolstered by a surge in deliveries during the critical holiday quarter. Following the report, the company’s shares rose 9% in after-hours trading. This financial momentum comes shortly after the firm surpassed UPS in market value for the first time earlier this month.
