FedEx Raises Rates After 1Q Results Highlight Operational Challenges
23 September 2022 - 05:36AM
Dow Jones News
By Denny Jacob
FedEx Corp. said Thursday that it was increasing its rates as it
operates in a more difficult environment.
The carrier said FedEx Express, FedEx Ground, and FedEx Home
Delivery rates would increase by an average of 6.9%, effective Jan.
2. FedEx Freight rates would increase by an average of 6.9% to 7.9%
depending on the customer's transportation-rate scale, the Memphis,
Tenn.-based company said.
The change comes as FedEx previously warned that revenue in the
second quarter fell below its expectations and it was ushering in a
flurry of changes to offset declining volumes of packages. The
company issued its first-quarter results on Thursday.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 22, 2022 15:21 ET (19:21 GMT)
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