The stock has never NOT performed poorly, IMO.

For years, FDX stock was soaring while UPS was stagnating or going down despite UPS earning far far far more income than FDX. Why? FDX was growing their revenue more rapidly, even though their margins on that growth were barely positive. It should surprise absolutely nobody that our stock price dropped as the COVID crack high of revenue and volume started to wane, as obviously growth without fundamentals support isn't sustainable (look at Spirit). Arguably "Better and Bolder" is a counter to FDX's current network and organizational transformation (or whatever buzzword they are calling it).

Making $1.3B in Q3 is good news, no matter how it is sliced.