FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.

The package-delivery giant said reduced demand for priority services and higher operating costs weighed on its results.

FedEx’s results were dragged down by weaker-than-expected demand, particularly in the U.S. domestic package market.

FedEx reported a lower first-quarter profit on Thursday as demand in the package industry remained muted, especially for priority services.

FedEx stock is plunging Friday after the logistics giant came up short of earnings expectations and revised its full-year outlook. Here's what you need to know.

Andrew Graham, managing partner at Jackson Square Capital, shares his take on FedEx's latest financial results and its prospects. The Memphis-based company cut the top end of its full-year profit outlook and reported quarterly earnings below expectations on softer demand for package deliveries.

FedEx stock tumbled after the company reported disappointing earnings and turned in weak quarterly results Thursday and suffered a bevy of price target cuts and downgrades from Wall Street as a result.

FedEx came up short on top and bottom lines, and guidance revisions suggest there is more bad news to come in fiscal 2025.