FedEx slides after earnings miss

Fedex is sliding, down about 4%, after reporting disappointing third quarter results.

The currier giant announced adjusted earnings of $US2.35 on revenue of $US15 billion.

Analysts expected adjusted EPS of $US2.62 on revenue of $US15 billion.

FedEx reaffirmed its full-year EPS of $US10.80-$US11.30, excluding pension accounting adjustments.

FedEx’s operating profit margin was 7.5%, down from 9.2%. Operating margin for its Ground segment fell to 11% from 12.6%.

UPS stock is falling in sympathy, dropping almost 1%.

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