Shares of FedEx dropped more than 5 percent after the bell Tuesday following disappointing fiscal third-quarter results. The logistics company also slashed its full-year earnings guidance for the second time since December, as it continues to struggle in the face of slowing global trade.
Here's how the company did compared with what Wall Street expected:
- Earnings per share: $3.03 vs. $3.11 expected , according to analysts surveyed by Refinitiv.
- Revenue: $17.01 billion vs. $17.67 billion expected, according to analysts surveyed by Refinitiv.
FedEx's earnings were down from $3.72 a year earlier, while revenue rose from $16.5 billion. The company issued weak full-year 2019 earnings per share guidance: between $15.10 and $15.90 compared with a forecast of $15.97, according to analysts surveyed by Refinitiv. This is the second time FedEx has slashed its full-year earnings outlook.