Earnings OutlookThe company lowered its earnings outlook, with management now expecting lower future earnings due to continued weakness and uncertainty in the U.S. industrial economy.
Industrial EconomyManagement pointed to weakness in the industrial economy that hurt B2B business, particularly in L TL, and noted that current macro conditions were driving demand uncertainty.
Structural PressuresFY guidance cut will likely exacerbate concerns of structural pressures in the Parcel business, which may even overwhelm the DRIVE cost-out program.