CORRECTED-FedEx narrows 2024 profit forecast range
In this article:
(Corrects headline and paragraph 1 to say FedEx narrowed its 2024 profit forecast range, not raised its forecast)
March 21 (Reuters) - FedEx narrowed its fiscal 2024 profit forecast range on Thursday, with the midpoint staying at the same level as its earlier forecast, as the company expects cost cuts to offset a decline in demand from its largest customer, the U.S. Postal Service (USPS).
The parcel delivery firm now expects earnings per share for fiscal 2024 to be in the range of $17.25 to $18.25, compared with its prior forecast of $17 to $18.50 per share. (Reporting by Lisa Baertlein in Long Beach; Ananta Agarwal and Aishwarya Jain in Bengaluru, Editing by Devika Syamnath)
