Global transportation and shipping company FedEx (NYSE: FDX) has decided to increase its shipping rates by 6.9% on an average basis for a majority of its services, in lieu of rising costs and inflation. FedEx’s rate increases are indicative of the company's steps to safeguard compressed margins amidst rising inflation and a slowdown in business volumes. The increased rates were announced concurrently with the company’s worse-than-expected Fiscal Q1 results. The rate hike does not come as a big surprise amid 40-year high inflation levels and a reduced profit and revenue outlook announced by the company. The company is also facing a slump in demand with excess capacity.
https://www.tipranks.com/news/fedex-nysefdx-stock-heres-what-a-hike-in-shipping-rates-indicates?utm_source=advfn.com&utm_medium=referral
FedEx (NYSE:FDX)
Historical Stock Chart
From Nov 2022 to Dec 2022 Click Here for more FedEx Charts.
FedEx (NYSE:FDX)
Historical Stock Chart
From Dec 2021 to Dec 2022 Click Here for more FedEx Charts.