Tariff clouds loom over, American logistics giant FedEx Corporation (FDX.US) lowers full-year outlook.

Due to the impact of the Trump administration's tariffs on trade partners, global logistics giant FedEx Corporation (FDX.US) announced on Thursday that it is lowering its full-year profit and revenue forecast, sparking deep concerns about the outlook for the US economy. According to the financial report, FedEx Corporation's third-quarter revenue was 22.2 billion US dollars, compared to 21.7 billion US dollars in the same period last year, an increase of 2.3%, analysts expected 21.91 billion US dollars; net profit was 910 million US dollars, compared to 880 million US dollars in the same period last year, an increase of 3.4%; amortized earnings per share (EPS) were 3.76 US dollars, compared to 3.51 US dollars in the same period last year. In terms of guidance, FedEx Corporation had already lowered its earnings per share forecast for the 2025 fiscal year from 20-22 US dollars to 19-20 US dollars in December last year, and now further narrowed it to 18-18.60 US dollars. Revenue expectations have also been adjusted from "flat with last year" to "flat or slightly lower," reflecting the lagging impact of tariff policies on cross-border trade. The company expects capital spending for the year to be 4.9 billion US dollars, which analysts expect to remain unchanged at 5.2 billion US dollars. In fact, behind the financial warnings is a grim reality. The US industrial economy remains weak, and demand for transportation among businesses has stalled. FedEx Corporation's Chief Financial Officer John Dieterich bluntly stated, "The revised profit outlook directly reflects the demand constraints brought about by the weak industrial economy." Data shows that for the third fiscal quarter ending February 28, adjusted earnings per share were 4.51 US dollars, an increase of 16.8% year-on-year, but slightly lower than analysts' expectations of 4.54 US dollars. More concerning is the deterioration of the profit structure. The rise in e-commerce delivery business is squeezing out the high-profit B2B transportation business, forcing the two logistics giants to simultaneously launch cost-cutting plans. FedEx Corporation expects to permanently reduce spending by $2.2 billion in the 2025 fiscal year, and accelerate the freight department spin-off plan announced last year - this strategic adjustment, valued at $20 billion by analysts, aims to concentrate resources to optimize express delivery and ground operations. In addition, the industry landscape is undergoing profound changes. After terminating its air cooperation with the US Postal Service in September, FedEx Corporation quickly took over joint packages, but in January abruptly announced a reduction in its express cooperation with its largest customer, Amazon.com, Inc. Under the shadow of a price war, every strategic adjustment made by the logistics giants is closely watched by the global market. CEO Suvramaniam attributed the operational challenges to the combined effects of "high season pressure and extreme weather," but the deeper contradictions lie in the deteriorating global economic outlook. The trade war risks sparked by tariffs are being transmitted through the industrial chain to the logistics sector, while the growth in low-end delivery demands brought about by the booming e-commerce industry is not enough to offset the shrinkage in high-end B2B business. The strategic shifts of the logistics giants are like a barometer of the global economy. As the White House wields the tariff stick at the global market, the numbers in FedEx Corporation's financial report are writing a more realistic economic story than political declarations. After-hours trading saw the company's stock price plummet by 5.5% to 232.69 US dollars, while competitor UPS fell by less than 1%, highlighting the differentiated impact of tariff policies on the logistics industry.