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FedEx Corporation (FDX)

NYSE - NYSE Delayed price. Currency in USD
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266.07-5.68 (-2.09%)
At close: 04:00PM EDT
266.00 -0.07 (-0.03%)
After hours: 08:00PM EDT
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    UPS sees profit in US Postal Service work that dragged down FedEx earnings

    LOS ANGELES (Reuters) -United Parcel Service expects its newly won U.S. Postal Service (USPS) air cargo contract to be profitable in its first year and throughout the more than five-year deal, after rival FedEx struggled with the business, Chief Executive Carol Tome said on Tuesday. Atlanta-based UPS will become the No. 1 USPS air cargo service provider on Sept. 30. It replaces FedEx, which was paid $1.75 billion in fiscal 2023 to provide Priority Mail and other speedy air services for the quasi-governmental agency.