By Jeff Berman ·
April 6, 2023
The company is consolidating all of its operating companies into a single organization.
By SCMR Staff ·
April 5, 2023
The new Federal Express Corporation will operate as a unified, fully integrated air-ground network under the FedEx brand.
By Jeff Berman ·
January 12, 2023
After stating in July that it was preparing to cut down on its Sunday delivery services in remote and rural areas of the United States, from 95% to 80% of the U.S. population, Memphis-based global freight transportation and logistics services provider FedEx is now reducing its Sunday delivery footprint to around 50% of the country, according to various reports.
By Jeff Berman ·
October 10, 2022
Late last week, a Reuters report stated that the FedEx Ground subsidiary of Memphis-based global freight transportation and logistics services provider FedEx is expecting lower volumes, reflecting how its customers anticipate shipping fewer holiday packages.
By Jeff Berman ·
September 23, 2022
Quarterly revenue—at $22 billion—increased 6% annually, and operating income—at $1.23 billion—fell 17.4% annually, with adjusted net income—at $905 million—falling 23.9%. Diluted earnings per share—at $3.44—was down 21.3% and short of Wall Street estimates of $5.48.
By Jeff Berman ·
July 26, 2022
Memphis-based FedEx said that as economic conditions have shifted, it is making operational adjustments to suspend Sunday delivery operations in certain low-density, rural markets, effective the week of Aug. 15.
By Jeff Berman ·
December 17, 2021
Quarterly revenue—at $23.5 billion—was up 14% annually, and operating income—at $1.6 billion—rose 9% annually. Diluted earnings per share—at $4.83—were flat, exceeding of Wall Street expectations of $4.28.
By Jeff Berman ·
September 22, 2021
Quarterly revenue—at $22 billion—saw a 14% annual increase, and operating income—at $1.398 billion—slipped 12% annually. Diluted earnings per share—at $4.09—were off 13%, falling short of Wall Street expectations of $4.89.
By Jeff Berman ·
August 18, 2021
Memphis-based global freight transportation and logistics services provider FedEx recently announced new peak surcharges and fees for its U.S. Express and Ground services and Ground International.
By Jeff Berman ·
July 29, 2021
Data recently provided to LM by ShipMatrix, a subsidiary of Pittsburgh-based SJ Consulting, pointed to mixed on-time performance (OTP) ranges, in June, for major parcel carriers, including UPS, FedEx, and the United States Postal Service (USPS).
By Jeff Berman ·
June 25, 2021
FY 2022 full-year revenue rose 17.6% annually, and operating income climbed 46.8% annually. For the fiscal fourth quarter, revenue rose 23% annually, and operating income headed up 278%. Earnings per share (topping Wall Street expectations of $5.02 per share) well outpaced the $1.28 per share recorded a year ago, as well as a $334 million loss.
By Jeff Berman ·
May 25, 2021
The company said that in order to provide its customers with the best possible service during this challenging time, these surcharge increases are being implemented
By Jeff Berman ·
May 7, 2021
Logistics Management Group News Editor Jeff Berman recently spoke with Bonnie Voldeng, VP, FedEx Freight Direct, the company's last-mile and e-commerce-focused service that handles the delivery of bulky items like furniture, televisions, and exercise equipment, among other items. From FY19 to FY20, FedEx Freight’s e-commerce portfolio saw a 71% annual volume increase, including FedEx Freight Direct.
By Jeff Berman ·
March 19, 2021
Quarterly revenue—at $21.5 billion—rose 18.6% annually, and operating income—at $1.06 billion far outpaced the $483 million reported for the same period last year. Adjusted earnings per share—at $3.47—climbed 146% annually, and beat Wall Street expectations, of $3.21 per share.
By Jeff Berman ·
September 16, 2020
Revenue—at $19.3 billion—was up 13% annually, and operating income—at $1.59 billion—headed up 63%. The company’s quarterly net income on an adjusted basis—at $1.25 billion—outpaced the $745 million recorded for the same quarter last year. Adjusted earnings per share—at $4.87—outpaced the $3.05 per share, from a year ago, and topped Wall Street expectations, of $2.54 per share.
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