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FedEx delivers disappointing 1Q 2023 results; reveals rate hikes and cost cutting measures

Austin-Bergstrom International Airport in Texas reports that total air cargo volume increased 41.79% in July year-over-year to 25,367,101 lbs.; international volume increased 2,701.12%, as FedEx volume fell 10.2% and UPS volume fell by 0.5%

FedEx Q1 Earnings Miss Estimates, Revenues Rise Y/Y

FedEx to increase shipping rates by 6.9%-7.9% on average for Express, Ground, effective January 2023, to offset weakening demand; courier expects up to US$2.70B in savings this fiscal year as it temporarily parks planes and lowers flight frequencies

FEDEX CORP FILES (8-K) Disclosing Results of Operations and Financial Condition, Financial Statements and Exhibits

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