FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.

FedEx Corp. (FDX) is facing increasing pressure as its latest earnings report revealed a significant miss on both profit and revenue expectations, triggering a sharp drop in its stock price. Shares of the shipping giant plummeted nearly 15% following the release of its fiscal first-quarter results,

FedEx has lowered its full-year outlook, expecting low-single-digit-percent revenue growth year over year, down from its previous projection of a low-to-mid-single-digit increase. It expects earnings per diluted share to range from $17.90 to $18.90, compared to the earlier forecast of $18.25 to $20.25.

Analysts see a potential spinoff of FedEx’s freight business as a possible boost, but the stock is dropping sharply

The shipping carrier is calling out a growing trend that speaks volumes about the current state of the industrial economy.

The economy just isn’t helping, and there is a troubling shift happening which shows why the Fed just cut benchmark interest rates. FedEx reported Thursday evening adjusted earn