Air-freight competitor UTi Worldwide, which recently reported results, sounded a note of caution about business in coming months. And April data on volumes from FedEx, the latest available, suggest a 9% drop in international cargo through its main hub in Memphis.
All this hints that fourth-quarter results for the period ended in May, due Tuesday, could be accompanied by cautious guidance for the next fiscal year…….A glance at sales and income from previous downturns shows how sensitive FedEx is to economic growth…. the kind of company that catches a cold when the world economy merely sneezes.