FedEx suspends 2020 profit forecast due to coronavirus outbreak

(Reuters) – FedEx Corp 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)