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Started By
Message
FedEx Misses Targets. Pulls Forecast
Posted on 9/16/22 at 6:14 am
Posted on 9/16/22 at 6:14 am
Down 20% in pre market. Cites global recession as reason for miss. Every news article on it claims that this dip is FedEx specific. For reference, March of 2020 FedEx traded at $120. Looks to be headed to a $160 open.
3
Posted on 9/16/22 at 6:29 am to Aubie Spr96
Is this surprising? Inflation is out of control and people went back to work. The need to ship every little item in our lives has decreased.
Posted on 9/16/22 at 6:36 am to MSTiger33
quote:
Is this surprising?
Uh, yeah.
Posted on 9/16/22 at 7:38 am to castorinho
Is FDX a buy at $160?
Posted on 9/16/22 at 7:41 am to oneg8rh8r
Why wouldn't you nibble at these prices? 5 years from now you will be like cant believe the price was in the mid 100's. Great entry point if you ask me. I own UPS in this sector so not buying.
Posted on 9/16/22 at 8:00 am to FLObserver
"Buy but I'm not". Thanks bud
Posted on 9/16/22 at 8:09 am to FLObserver
Some commentator on CNBC said that FedEx in 2020 at $100/share was basically valuing the company at generating ZERO revenue.
Posted on 9/16/22 at 8:11 am to MSTiger33
quote:
Is this surprising?
It's surprising that's its 20%
Posted on 9/16/22 at 8:15 am to Aubie Spr96
FedEx ceo did Incredible yesterday with Cramer on cnbc. China is a big problem. They ought to know.
If you haven’t seen it, go watch
If you haven’t seen it, go watch
This post was edited on 9/16/22 at 8:16 am
Posted on 9/16/22 at 8:15 am to DaTruth7
quote:
"Buy but I'm not". Thanks bud
At least i gave my reason
Posted on 9/16/22 at 8:39 am to FLObserver
I'm in at $155. We shall see.
Posted on 9/16/22 at 8:45 am to SlidellCajun
quote:
FedEx ceo did Incredible yesterday with Cramer on cnbc. China is a big problem. They ought to know.
But Cramer threw him under the bus this morning suggesting that FedEx problems are more internal than macroeconomic. Suggesting the the problem is poor management, not external economics.
Posted on 9/16/22 at 9:22 am to MSTiger33
quote:
Is this surprising? Inflation is out of control and people went back to work. The need to ship every little item in our lives has decreased.
As someone that deals with multiple FedEx shipments a day; the reasoning given is a little surprising. They want to site the recession, but they also routinely miss delivery expectations and sometimes require my staff to hound them to get statuses on items and/or get them to move. If other companies are having the same experience I am having, they are diverting a lot of their shipments away from FedEx, and that is why it appears to be FedEx specific.
Posted on 9/16/22 at 9:57 am to Weekend Warrior79
quote:
If other companies are having the same experience I am having, they are diverting a lot of their shipments away from FedEx, and that is why it appears to be FedEx specific.
We own a retail business and we move a lot of merchandise with FedEx. Their service is close to abysmal. We much prefer UPS and use them whenever possible, but we have no control over which one our vendors ship with.
Posted on 9/16/22 at 10:22 am to Aubie Spr96
The wife (no pics) works for FedEx, at least one big problem seems to be their lack of willingness to hire enough people.
FedEx was the primary shipper for Amazon. A little before COVID, Amazon started doing their own shipping, this was a huge blow to FedEx's business.
FedEx was in full streamlining mode when COVID hit. They were reluctant to change gears as their business spiked, they didn't know how long the surge would last. This is where the problem is because they've never recovered from that.
When my wife was driving for them, she was part-time but was often working 10-12 hour days because they were so busy. During that time they were only sloooooowly adding drivers, and treated Christmas 2020 as just any other time by shedding the seasonal drivers and the extra vehicle rentals they were using.
This is still the primary issue in a lot of areas (not just geographically, but in various sectors of the company).
FedEx was the primary shipper for Amazon. A little before COVID, Amazon started doing their own shipping, this was a huge blow to FedEx's business.
FedEx was in full streamlining mode when COVID hit. They were reluctant to change gears as their business spiked, they didn't know how long the surge would last. This is where the problem is because they've never recovered from that.
When my wife was driving for them, she was part-time but was often working 10-12 hour days because they were so busy. During that time they were only sloooooowly adding drivers, and treated Christmas 2020 as just any other time by shedding the seasonal drivers and the extra vehicle rentals they were using.
This is still the primary issue in a lot of areas (not just geographically, but in various sectors of the company).
Posted on 9/16/22 at 3:22 pm to oneg8rh8r
quote:
I'm in at $155. We shall see.
I lied i bought a single share at the same price
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