In this photo FedEx logo is seen in Washington D.C., United States on February 16, 2023.
Celal Gunes | Anadolu Agency | Getty Images
FedEx on Thursday hiked its full-year earnings forecast as it said cost-cutting measures offset continued demand weakness at units including FedEx Express.
FedEx now expects adjusted earnings per share for fiscal year 2023 of between $14.60 and $15.20, up from a prior forecast of between $13.00 and $14.00. Wall Street had expected full-year EPS of $13.56, according to Refinitiv consensus estimates.
“We are holistically adjusting to the cost base on all dimensions and all areas,” said CFO Mike Lenz. “Every dollar is under scrutiny.”
The company’s stock spiked…