FedEx stock (NYSE: FDX) is down 34% this year, compared to a 19% fall for the broader S&P500 index. After its recent fall, FDX stock can see higher levels. Due to a decline in delivery volumes, FedEx
FDX
Earlier this week, the company reported its Q2 fiscal 2023 results (the fiscal year ends in May), with revenue of $22.8 billion, down 3% y-o-y, and falling well below our estimate of $23.9 billion, primarily due to softening volume. Average daily package volume was down 12% during the quarter. However, yields continued to improve, with composite package yield rising 8%.
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