FedEx last night issued a “very disappointing” set of second-quarter results, with adjusted net income down nearly 40% to $660m, on revenues down almost 3% to $17.3bn.
The loss of Amazon’s domestic US contract, shorter peak period and the seemingly never-ending integration of TNT, which ”dragged down” FedEx, all served the company badly.
“Our Q2 results were very disappointing,” said Alan Graf, chief financial officer.
“The loss of volume from Amazon had a …

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Source: The Loadstar