FedEx CEO’s Sweeping Network Overhaul Is Starting to Bear Fruit

FedEx Corp. offered investors a sign that Chief Executive Officer Raj Subramaniam’s turnaround plan may be worth the wait.

The shipping heavyweight raised the low end of its profit outlook for the year and reported earnings for the most recent quarter that topped Wall Street estimates, helped by volume and pricing gains in the US.

The results suggest that Subramaniam’s push to combine FedEx’s ground and air-freight networks and slash billions of dollars in costs is beginning to pay off after spotty demand and President Donald Trump’s trade and tariff policies obscured progress for much of the year. ...