Fedex zone chart 20238/26/2023 ![]() ![]() ![]() 31, in which it withdrew its previous guidance for fiscal year 2023 and declared that the slowing of the global economy had impacted business more than expected. The figures came as no surprise after the company released a preliminary earnings report last week for its first quarter, ended Aug. The Memphis logistics giant made $23.2 billion in revenue for the 2023 fiscal year’s first quarter, a 5.4% increase from the year-before quarter’s $22 billion. The company posted an adjusted net income of $905 million, a 23.9% drop from last year's $1.19 billion. As a result, the company plans to cut costs by between $2.2 billion and $2.7 billion in fiscal year 2023. View Gallery: See inside the FedEx super hub at the Memphis airportįedEx announced disappointing results in its first-quarter earnings Thursday, especially in its FedEx Express segment. ![]()
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