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so lets talk about what all this means here for the company we have John Eid Argus research president and director of portfolio John its great to see you so just your initial thoughts on this report so guidance looks like thats coming in a bit light but FedEx taking even more action in terms of trying to cut their costs even further than we had initially expected right um I I think this is FedEx trying to get back on track um after the awful quarter they had in their first quarter when they had withdrawn all of their guidance so now at least theyre providing some clarity and some transparency to investors even if its a little bit below what the street had expected our estimate was for 13.50 in EPS this year so were right in the middle of of that range margins were something everyone was watching what do you make of that side of the earnings report well um FedEx really comes up short on margins compared to other players in the industry like UPS right FedEx delivered a 5.3 operati