What Happened in FedEx's First Quarter?
Another quarter brought yet another disappointing earnings report from FedEx (NYSE: FDX). The company missed most investors' expectations for its fiscal first quarter of 2020 and management continued a worrying trend of lowering full-year guidance -- not a good sign when it occurs in the first quarter. Let's take a look at what happened in an eventful quarter's earnings.
Starting with the headline numbers from the quarter:
Clearly, this was a disappointing set of numbers. I'll come to the guidance in a moment, but first let's look at the segment detail from the quarter. As the table below indicates, it was another weak quarter for the core express segment, and the decline in operating income outpaced the 12% decline reported in last-quarter's earnings.
Source Fool.com
