Posted 12/20/2023, 12:44:48 PM
FedEx Shares Plummet on Gloomy Outlook Driven by Integration Struggles and Demand Headwinds
- FedEx shares fell 10% after disappointing forecast showed struggles with integration and restructuring
- Company expecting revenues to decline next year due to difficult demand environment
- FedEx struggling to integrate Express, Ground, other units into single organization
- 2016 TNT Express acquisition to expand global reach, but integration issues persist
- Doubts remain whether Express cost structure is still too high despite recent actions