FedEx suspends 2020 profit forecast due to coronavirus outbreak

FILE PHOTO: A Federal Express truck is shown in Los Angeles, California, U.S., October 16, 2019. REUTERS/Mike Blake

(Reuters) – FedEx Corp (FDX.N) suspended its 2020 profit outlook on Tuesday, citing uncertainty due to the coronavirus pandemic.

The package delivery company’s adjusted net income fell to $371 million, or $1.41 per share, in the third quarter ended Feb. 29, from $797 million, or $3.03 per share, a year earlier.

Reporting by Lisa Baertlein in Los Angeles and Ankit Ajmera in Bengaluru; Editing by Arun Koyyur

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