Will FedEx Earnings Show The Temu Effect Is Propelling U.S. Package Deliveries?

Source: investors.com investors.com

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Shipping heavyweight FedEx (FDX) reports fiscal 2024 third-quarter earnings and revenue Thursday. Wall Street projects a slight revenue decline, even as the shipping outlook appears more positive with the popularity of China e-commerce company Temu and others taking off in the U.S. X Analysts expect FedEx EPS to grow about 1% to $3.44 with sales declining 1% to $21.97 billion in the fiscal third quarter with Wall Street looking to FDX earnings performance and outlook to provide on-the-ground readings of economic activity. The earnings report from FedEx Thursday follows Hapag-Lloyd Chief Executive Rolf Habben Jansen telling CNBC recently that he...