FedEx Corporation
09/19/2024 | Press release | Distributed by Public on 09/19/2024 14:32
First Quarter 2025 Stat Book (Excel)
Corp balsht
| FedEx Corporation | |||
| Condensed Consolidated Balance Sheets | |||
| FY 2023 - FY 2025 | |||
| May 31 | |||
| In millions (except share data) | |||
| FY 2023 | FY 2024 | Aug. 31, 2024 | |
| ASSETS | |||
| Current Assets | |||
| Cash and cash equivalents | $ 6,856 | $ 6,501 | $ 5,943 |
| Receivables, less allowances | 10,188 | 10,087 | 10,312 |
| Spare parts, supplies, and fuel, less allowances | 604 | 614 | 611 |
| Prepaid expenses and other | 962 | 1,005 | 1,228 |
| Total current assets | 18,610 | 18,207 | 18,094 |
| Property and Equipment, at Cost | |||
| Aircraft and related equipment | 29,108 | 30,525 | |
| Package handling and ground support equipment | 16,839 | 17,880 | |
| Information technology | 8,792 | 9,203 | |
| Vehicles and trailers | 10,191 | 10,568 | |
| Facilities and other | 15,694 | 16,215 | |
| 80,624 | 84,391 | 85,158 | |
| Less accumulated depreciation and amortization | 39,926 | 42,900 | 43,903 |
| Net property and equipment | 40,698 | 41,491 | 41,255 |
| Other Long-Term Assets | |||
| Operating lease right-of-use-assets, net | 17,347 | 17,115 | 17,094 |
| Goodwill and other asset impairment charges | 6,435 | 6,423 | 6,512 |
| Other assets | 4,053 | 3,771 | 3,756 |
| Total other long-term assets | 27,835 | 27,309 | 27,362 |
| $ 87,143 | $ 87,007 | $ 86,711 | |
| LIABILITIES AND COMMON STOCKHOLDERS' INVESTMENT | |||
| Current Liabilities | |||
| Current portion of long-term debt | $ 126 | $ 68 | $ 622 |
| Accrued salaries and employee benefits | 2,475 | 2,673 | 2,336 |
| Accounts payable | 3,848 | 3,189 | 3,738 |
| Operating lease liabilities | 2,390 | 2,463 | 2,510 |
| Accrued expenses | 4,747 | 4,962 | 4,905 |
| Total current liabilities | 13,586 | 13,355 | 14,111 |
| Long-Term Debt, Less Current Portion | 20,453 | 20,135 | 19,664 |
| Other Long-Term Liabilities | |||
| Deferred income taxes | 4,489 | 4,482 | 4,485 |
| Pension, postretirement healthcare, and other benefit obligations | 3,130 | 2,010 | 1,780 |
| Self-insurance accruals | 3,339 | 3,701 | 3,833 |
| Operating lease liabilities | 15,363 | 15,053 | 14,969 |
| Other liabilities | 695 | 689 | 693 |
| Total other long-term liabilities | 27,016 | 25,935 | 25,760 |
| Commitments and Contingencies | |||
| Common Stockholders' Investment | |||
| Common stock $0.10 par value; 800 million shares auth. | 32 | 32 | 32 |
| Additional paid-in capital | 3,769 | 3,988 | 4,134 |
| Retained earnings | 35,259 | 38,649 | 38,767 |
| Accumulated other comprehensive loss | (1,327) | (1,359) | (1,332) |
| Treasury stock, at cost | (11,645) | (13,728) | (14,425) |
| Total common stockholders' investment | 26,088 | 27,582 | 27,176 |
| $ 87,143 | $ 87,007 | $ 86,711 | |
| Unaudited. Differences may result due to rounding. The condensed consolidated balance sheets were not revised as a result of the revised financial presentation related to our one FedEx consolidation. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Corp cashflow
| FedEx Corporation | |||
| Condensed Consolidated Statements of Cash Flows | |||
| FY 2023 - FY 2025 | |||
| Years ended May 31 | |||
| In millions | |||
| FY 2023 | FY 2024 | Q1 YTD FY 2025 | |
| OPERATING ACTIVITIES | |||
| Net income | $ 3,972 | $ 4,331 | $ 794 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 4,176 | 4,287 | 1,078 |
| Provision for uncollectible accounts | 696 | 421 | 129 |
| Other noncash items including leases and deferred income taxes | 3,472 | 2,919 | 817 |
| Stock-based compensation | 182 | 163 | 48 |
| Retirement plans mark-to-market adjustments | (650) | (561) | - |
| Goodwill and other asset impairment charges | 117 | 157 | - |
| Business optimization costs, net of payments | 23 | 26 | (69) |
| Changes in assets and liabilities: | |||
| Receivables | 782 | (270) | (305) |
| Other current assets | 48 | (43) | (223) |
| Pension and postretirement assets and liabilities, net | (623) | (522) | - |
| Accounts payable and other liabilities | (3,331) | (2,553) | (1,105) |
| Other, net | (16) | (43) | 23 |
| Cash provided by operating activities | 8,848 | 8,312 | 1,187 |
| INVESTING ACTIVITIES | |||
| Capital expenditures | (6,174) | (5,176) | (767) |
| Purchase of investments | (84) | (176) | (61) |
| Proceeds from sale of investments | - | 38 | 13 |
| Proceeds from asset dispositions and other | 84 | 114 | 13 |
| Cash used in investing activities | (6,174) | (5,200) | (802) |
| FINANCING ACTIVITIES | |||
| Principal payments on debt | (152) | (147) | (34) |
| Proceeds from stock issuances | 231 | 491 | 404 |
| Dividends paid | (1,177) | (1,259) | (339) |
| Purchase of treasury stock | (1,500) | (2,500) | (1,000) |
| Other, net | 1 | (11) | - |
| Cash used in financing activities | (2,597) | (3,426) | (969) |
| Effect of exchange rate changes on cash | (118) | (41) | 26 |
| CASH AND CASH EQUIVALENTS | |||
| Net decrease in cash and cash equivalents | (41) | (355) | (558) |
| Cash and cash equivalents at beginning of period | 6,897 | 6,856 | 6,501 |
| Cash and cash equivalents at end of period | $ 6,856 | $6,501 | $5,943 |
| Unaudited. Differences may result due to rounding. The condensed consolidated statements of cash flows were not revised as a result of the revised financial presentation related to our one FedEx consolidation. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Corp IncState
| FedEx Corporation | |||
| Annual Consolidated Statements of Income | |||
| FY 2023 - FY 2025 | |||
| Years ended May 31 | |||
| In millions, except EPS | |||
| FY 2023 | FY 2024 | Q1 YTD FY 2025 | |
| Revenue: | |||
| Federal Express segment | $ 75,884 | $ 74,663 | $ 18,305 |
| FedEx Freight segment | 10,084 | 9,429 | 2,329 |
| Other and eliminations | 4,187 | 3,601 | 945 |
| Total Revenue | 90,155 | 87,693 | 21,579 |
| Operating Expenses: | |||
| Salaries and employee benefits | 31,019 | 30,961 | 7,785 |
| Purchased transportation | 21,790 | 20,921 | 5,275 |
| Rentals and landing fees | 4,738 | 4,571 | 1,161 |
| Depreciation and amortization | 4,176 | 4,287 | 1,078 |
| Fuel | 5,909 | 4,710 | 1,075 |
| Maintenance and repairs | 3,357 | 3,291 | 829 |
| Business optimization and realignment costs1 | 309 | 582 | 128 |
| Goodwill and other asset impairment charges | 117 | 157 | - |
| Other | 13,828 | 12,654 | 3,168 |
| Total Operating Expenses | 85,243 | 82,134 | 20,499 |
| Operating Income: | |||
| Federal Express segment | 4,193 | 4,819 | 953 |
| FedEx Freight segment | 1,936 | 1,821 | 439 |
| Corporate, other, and eliminations | (1,217) | (1,081) | (312) |
| Total Operating Income | 4,912 | 5,559 | 1,080 |
| Other Income (Expense): | |||
| Interest, net | (496) | (375) | (84) |
| Other retirement plans income (expense) | 1,054 | 722 | 49 |
| Other, net | (107) | (70) | 11 |
| Total Other Income (Expense) | 451 | 277 | (24) |
| Income Before Income Taxes | 5,363 | 5,836 | 1,056 |
| Provision for Income Taxes | 1,391 | 1,505 | 262 |
| Net Income | $ 3,972 | $4,331 | $794 |
| Basic Earnings Per Share | $ 15.60 | $17.41 | $3.24 |
| Weighted Avg. Common Shares | 254 | 248 | 244 |
| Diluted Earnings Per Share | $ 15.48 | $ 17.21 | $ 3.21 |
| Weighted Avg. Diluted Shares | 256 | 251 | 247 |
| SELECTED STATISTICS | |||
| Operating Margin | 5.4% | 6.3% | 5.0% |
| Pre-tax Margin | 5.9% | 6.7% | 4.9% |
| Return on Assets | 4.6% | 5.0% | 4.6% |
| Return on Equity | 15.5% | 16.1% | 15.1% |
| Dividends Paid Per Common Share | $ 4.60 | $ 5.04 | $ 1.38 |
| 1 - FY25 includes business optimization costs of $128 million ($98 million, net of tax, or $0.39 per diluted share) associated with our business optimization strategy announced in 2023. | |||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Corp 23-24 qtr
| FedEx Corporation | ||||||||
| Quarterly Consolidated Statements of Income | ||||||||
| FY 2023 - FY 2024 | ||||||||
| Year ended May 31 | ||||||||
| In millions, except EPS | ||||||||
| FY 2023 | FY 2024 | |||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| Revenue: | ||||||||
| Federal Express segment | $ 19,184 | $ 19,157 | $ 18,919 | $ 18,624 | $ 18,426 | $ 18,773 | $ 18,672 | $ 18,792 |
| FedEx Freight segment | 2,849 | 2,573 | 2,293 | 2,369 | 2,385 | 2,452 | 2,205 | 2,387 |
| Other and eliminations | 1,209 | 1,084 | 957 | 937 | 870 | 940 | 861 | 930 |
| Total revenue | 23,242 | 22,814 | 22,169 | 21,930 | 21,681 | 22,165 | 21,738 | 22,109 |
| Operating Expenses: | ||||||||
| Salaries and employee benefits | 7,859 | 7,792 | 7,817 | 7,551 | 7,785 | 7,833 | 7,693 | 7,650 |
| Purchased transportation | 5,767 | 5,665 | 5,402 | 4,956 | 5,036 | 5,395 | 5,345 | 5,145 |
| Rentals and landing fees | 1,159 | 1,195 | 1,205 | 1,179 | 1,151 | 1,138 | 1,145 | 1,137 |
| Depreciation and amortization | 1,024 | 1,046 | 1,031 | 1,075 | 1,071 | 1,040 | 1,072 | 1,104 |
| Fuel | 1,822 | 1,593 | 1,350 | 1,144 | 1,101 | 1,328 | 1,140 | 1,141 |
| Maintenance and repairs | 904 | 882 | 789 | 782 | 824 | 854 | 804 | 809 |
| Business optimization and realignment costs | 38 | 36 | 123 | 112 | 105 | 145 | 114 | 218 |
| Goodwill and other asset impairment charges | - | - | - | 117 | - | - | - | 157 |
| Other | 3,478 | 3,429 | 3,410 | 3,511 | 3,123 | 3,156 | 3,182 | 3,193 |
| Total operating expenses | 22,051 | 21,638 | 21,127 | 20,427 | 20,196 | 20,889 | 20,495 | 20,554 |
| Operating income: | ||||||||
| Federal Express segment | 862 | 937 | 962 | 1,432 | 1,306 | 1,035 | 1,173 | 1,305 |
| FedEx Freight segment | 657 | 442 | 387 | 450 | 482 | 491 | 341 | 507 |
| Corporate, other, and eliminations | (328) | (203) | (307) | (379) | (303) | (250) | (271) | (257) |
| Total Operating Income | 1,191 | 1,176 | 1,042 | 1,503 | 1,485 | 1,276 | 1,243 | 1,555 |
| Other (expense) income: | ||||||||
| Interest, net | (142) | (127) | (122) | (105) | (91) | (97) | (91) | (96) |
| Other retirement plans income | 101 | 101 | 102 | 750 | 39 | 41 | 40 | 602 |
| Other, net | 4 | (91) | - | (20) | (10) | (18) | (9) | (33) |
| Total other (expense) Income | (37) | (117) | (20) | 625 | (62) | (74) | (60) | 473 |
| Income before income taxes | 1,154 | 1,059 | 1,022 | 2,128 | 1,423 | 1,202 | 1,183 | 2,028 |
| Provision for income taxes | 279 | 271 | 251 | 590 | 345 | 302 | 304 | 554 |
| Net income | $ 875 | $ 788 | $ 771 | $ 1,538 | $ 1,078 | $ 900 | $ 879 | $ 1,474 |
| Basic earnings per share | $ 3.37 | $ 3.08 | $ 3.07 | $ 6.10 | $ 4.28 | $ 3.59 | $ 3.55 | $ 6.00 |
| Weighted avg. common shares | 259 | 255 | 251 | 252 | 251 | 250 | 247 | 245 |
| Diluted earnings per share | $ 3.33 | $ 3.07 | $ 3.05 | $ 6.05 | $ 4.23 | $ 3.55 | $ 3.51 | $ 5.94 |
| Weighted avg. diluted shares | 262 | 256 | 253 | 254 | 254 | 253 | 250 | 248 |
| Selected statistics | ||||||||
| Operating margin | 5.1% | 5.2% | 4.7% | 6.9% | 6.8% | 5.8% | 5.7% | 7.0% |
| Pre-tax margin | 5.0% | 4.6% | 4.6% | 9.7% | 6.6% | 5.4% | 5.4% | 9.2% |
| Dividends paid per common share | $ 1.15 | $ 1.15 | $ 1.15 | $ 1.15 | $ 1.26 | $ 1.26 | $ 1.26 | $ 1.26 |
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Corp 25 qtr
| FedEx Corporation | |||
| Quarterly Consolidated Statements of Income | |||
| FY 2025 | |||
| Years ended May 31 | |||
| In millions, except EPS | |||
| FY 2025 | |||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER |
| Revenue: | |||
| Federal Express segment | $ 18,305 | ||
| FedEx Freight segment | 2,329 | ||
| Other and eliminations | 945 | ||
| Total revenue | 21,579 | ||
| Operating expenses: | |||
| Salaries and employee benefits | 7,785 | ||
| Purchased transportation | 5,275 | ||
| Rentals and landing fees | 1,161 | ||
| Depreciation and amortization | 1,078 | ||
| Fuel | 1,075 | ||
| Maintenance and repairs | 829 | ||
| Business optimization1 | 128 | ||
| Other | 3,168 | ||
| Total operating expenses | 20,499 | ||
| Operating income: | |||
| Federal Express segment | 953 | ||
| FedEx Freight segment | 439 | ||
| Corporate, other, and eliminations | (312) | ||
| Total operating income | 1,080 | ||
| Other (expense) income: | |||
| Interest, net | (84) | ||
| Other retirement plans income | 49 | ||
| Other, net | 11 | ||
| Total other (expense) Income | (24) | ||
| Income before income taxes | 1,056 | ||
| Provision for income taxes | 262 | ||
| Net income | $ 794 | ||
| Basic earnings per share | $3.24 | ||
| Weighted avg. common shares | 244 | ||
| Diluted earnings per share | $3.21 | ||
| Weighted avg. diluted shares | 247 | ||
| Selected statistics | |||
| Operating margin | 5.0% | ||
| Pre-tax margin | 4.9% | ||
| Dividends paid per common share | $ 1.38 | ||
| 1 - First quarter 2025 includes business optimization costs of $128 million ($98 million, net of tax, or $0.39 per diluted share) associated with our business optimization strategy announced in 2023. | |||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Capital
| FedEx Corporation | |||
| Capital Expenditures | |||
| FY 2023 - FY 2025 | |||
| Years ended May 31 | |||
| In millions | |||
| FY 2023 | FY 2024 | Q1 YTD FY 2025 | |
| By Asset Type | |||
| Aircraft and related equipment | $ 1,684 | $ 1,627 | $ 181 |
| Package handling and ground support equipment | 1,851 | 974 | 197 |
| Vehicles and trailers | 719 | 709 | 90 |
| Information technology | 802 | 656 | 153 |
| Facilities and other | 1,118 | 1,210 | 146 |
| Total | $ 6,174 | $ 5,176 | $ 767 |
| By Segment | |||
| Federal Express segment | $ 5,480 | $ 4,591 | $ 703 |
| FedEx Freight segment | 557 | 461 | 35 |
| Other | 137 | 124 | 29 |
| Total | $ 6,174 | $ 5,176 | $ 767 |
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Express incstate
| Federal Express Segment | |||
| Annual Consolidated Statements of Income | |||
| FY 2023 - FY 2025 | |||
| Years ended May 31 | |||
| In millions | |||
| FY 2023 | FY 2024 | Q1 YTD FY 2025 | |
| Revenue: | |||
| Package: | |||
| U.S. priority | $ 10,896 | $ 10,543 | $ 2,591 |
| U.S. deferred | 5,126 | 4,926 | 1,151 |
| U.S. ground | 32,352 | 32,981 | 8,056 |
| Total U.S. domestic package revenue | 48,374 | 48,450 | 11,798 |
| International priority | 10,938 | 9,454 | 2,206 |
| International economy | 3,307 | 4,653 | 1,360 |
| Total international export package revenue | 14,245 | 14,107 | 3,566 |
| International domestic1 | 4,552 | 4,659 | 1,112 |
| Total package revenue | 67,171 | 67,216 | 16,476 |
| Freight: | |||
| U.S. | 2,883 | 2,391 | 569 |
| International priority | 3,059 | 2,205 | 526 |
| International economy | 1,719 | 1,874 | 463 |
| Total freight revenue | 7,661 | 6,470 | 1,558 |
| Other | 1,052 | 977 | 271 |
| Total revenue | 75,884 | 74,663 | 18,305 |
| Operating expenses: | |||
| Salaries and employee benefits | 24,523 | 24,606 | 6,201 |
| Purchased transportation | 19,677 | 19,330 | 4,801 |
| Rentals and landing fees | 4,035 | 3,863 | 986 |
| Depreciation and amortization | 3,655 | 3,754 | 935 |
| Fuel | 5,157 | 4,137 | 954 |
| Maintenance and repairs | 2,910 | 2,848 | 719 |
| Asset impairment charges | 70 | 157 | - |
| Business optimization and realignment costs2 | 47 | 251 | 43 |
| Intercompany allocations | (689) | (684) | (187) |
| Other | 12,306 | 11,582 | 2,900 |
| Total operating expenses | 71,691 | 69,844 | 17,352 |
| Operating income | $ 4,193 | $ 4,819 | $ 953 |
| Operating margin | 5.5% | 6.5% | 5.2% |
| 1 - International domestic revenue relates to our international intra-country operations. | |||
| 2 - FY25 includes business optimization costs of $43 million associated with our business optimization strategy announced in 2023. | |||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Express 23-24qtr
| Federal Express Segment | ||||||||
| Quarterly Consolidated Statements of Income | ||||||||
| FY 2023 - FY 2024 | ||||||||
| Year ended May 31 | ||||||||
| In millions | ||||||||
| FY 2023 | FY 2024 | |||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| Revenue: | ||||||||
| Package: | ||||||||
| U.S. priority | $ 2,841 | $ 2,711 | $ 2,642 | $ 2,702 | $ 2,673 | $ 2,605 | $ 2,595 | $ 2,670 |
| U.S. deferred | 1,287 | 1,253 | 1,346 | 1,240 | 1,187 | 1,207 | 1,316 | 1,216 |
| U.S. ground | 7,870 | 8,103 | 8,367 | 8,012 | 8,133 | 8,309 | 8,363 | 8,176 |
| Total U.S. domestic package revenue | 11,998 | 12,067 | 12,355 | 11,954 | 11,993 | 12,121 | 12,274 | 12,062 |
| International priority | 2,897 | 2,822 | 2,566 | 2,653 | 2,327 | 2,390 | 2,317 | 2,420 |
| International economy | 808 | 812 | 791 | 896 | 1,117 | 1,183 | 1,107 | 1,246 |
| Total international export package revenue | 3,705 | 3,634 | 3,357 | 3,549 | 3,444 | 3,573 | 3,424 | 3,666 |
| International domestic1 | 1,106 | 1,166 | 1,128 | 1,152 | 1,140 | 1,213 | 1,139 | 1,167 |
| Total package revenue | 16,809 | 16,867 | 16,840 | 16,655 | 16,577 | 16,907 | 16,837 | 16,895 |
| Freight: | ||||||||
| U.S. | 790 | 777 | 715 | 601 | 577 | 577 | 641 | 596 |
| International priority | 887 | 811 | 688 | 673 | 553 | 568 | 520 | 564 |
| International economy | 429 | 440 | 414 | 436 | 472 | 470 | 438 | 494 |
| Total freight revenue | 2,106 | 2,028 | 1,817 | 1,710 | 1,602 | 1,615 | 1,599 | 1,654 |
| Other | 269 | 262 | 262 | 259 | 247 | 251 | 236 | 243 |
| Total revenue | 19,184 | 19,157 | 18,919 | 18,624 | 18,426 | 18,773 | 18,672 | 18,792 |
| Operating expenses: | ||||||||
| Salaries and employee benefits | 6,159 | 6,129 | 6,247 | 5,988 | 6,171 | 6,208 | 6,141 | 6,086 |
| Purchased transportation | 5,049 | 5,120 | 4,952 | 4,556 | 4,677 | 4,980 | 4,954 | 4,719 |
| Rentals and landing fees | 984 | 1,019 | 1,031 | 1,001 | 975 | 963 | 968 | 957 |
| Depreciation and amortization | 885 | 909 | 922 | 939 | 929 | 925 | 933 | 967 |
| Fuel | 1,593 | 1,381 | 1,187 | 996 | 961 | 1,164 | 1,005 | 1,007 |
| Maintenance and repairs | 788 | 764 | 681 | 677 | 722 | 732 | 697 | 697 |
| Asset impairment charges | - | - | - | 70 | - | - | - | 157 |
| Business optimization and realignment costs | 14 | 11 | 3 | 19 | 27 | 77 | 45 | 102 |
| Intercompany allocations | (173) | (172) | (173) | (171) | (175) | (168) | (167) | (174) |
| Other | 3,023 | 3,059 | 3,107 | 3,117 | 2,833 | 2,857 | 2,923 | 2,969 |
| Total operating expenses | 18,322 | 18,220 | 17,957 | 17,192 | 17,120 | 17,738 | 17,499 | 17,487 |
| Operating income | $ 862 | $ 937 | $ 962 | $ 1,432 | $ 1,306 | $ 1,035 | $ 1,173 | $ 1,305 |
| Operating margin | 4.5% | 4.9% | 5.1% | 7.7% | 7.1% | 5.5% | 6.3% | 6.9% |
| 1 - International domestic revenue relates to our international intra-country operations. | ||||||||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Express 25qtr
| Federal Express Segment | |||
| Quarterly Consolidated Statements of Income | |||
| FY 2025 | |||
| Years ended May 31 | |||
| In millions | |||
| FY 2025 | |||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER |
| Revenue: | |||
| Package: | |||
| U.S. priority | $ 2,591 | ||
| U.S. deferred | 1,151 | ||
| U.S. ground | 8,056 | ||
| Total U.S. domestic package revenue | 11,798 | ||
| International priority | 2,206 | ||
| International economy | 1,360 | ||
| Total international export package revenue | 3,566 | ||
| International domestic1 | 1,112 | ||
| Total package revenue | 16,476 | ||
| Freight: | |||
| U.S. | 569 | ||
| International priority | 526 | ||
| International economy | 463 | ||
| Total freight revenue | 1,558 | ||
| Other | 271 | ||
| Total revenue | 18,305 | ||
| Operating expenses: | |||
| Salaries and employee benefits | 6,201 | ||
| Purchased transportation | 4,801 | ||
| Rentals and landing fees | 986 | ||
| Depreciation and amortization | 935 | ||
| Fuel | 954 | ||
| Maintenance and repairs | 719 | ||
| Business optimization2 | 43 | ||
| Intercompany allocations | (187) | ||
| Other | 2,900 | ||
| Total operating expenses | 17,352 | ||
| Operating income | $ 953 | ||
| Operating margin | 5.2% | ||
| 1 - International domestic revenue relates to our international intra-country operations. | |||
| 2 - First quarter 2025 includes business optimization costs of $43 million associated with our business optimization strategy announced in 2023. | |||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Express annopstats
| Federal Express Segment | |||
| Annual Operating Statistics | |||
| FY 2023 - FY 2025 | |||
| Year ended May 31 | |||
| In thousands, except yield amounts | |||
| FY 2023 | FY 2024 | Q1 YTD FY 2025 | |
| Package Statistics | |||
| Average daily package volume (ADV)1: | |||
| U.S. priority | 1,724 | 1,649 | 1,600 |
| U.S. deferred | 1,064 | 1,015 | 968 |
| U.S. ground commercial | 4,194 | 4,276 | 4,289 |
| U.S. ground home delivery/economy | 6,756 | 6,678 | 6,438 |
| Total U.S. domestic ADV | 13,738 | 13,618 | 13,295 |
| International priority | 708 | 667 | 622 |
| International economy | 311 | 394 | 491 |
| Total international export ADV | 1,019 | 1,061 | 1,113 |
| International domestic2 | 1,967 | 1,936 | 1,823 |
| Total ADV | 16,724 | 16,615 | 16,231 |
| Revenue per package (yield): | |||
| U.S. priority | $ 24.78 | $ 24.98 | $ 25.30 |
| U.S. deferred | 18.91 | 18.97 | 18.59 |
| U.S. ground | 11.59 | 11.76 | 11.73 |
| Total U.S. domestic composite | 13.81 | 13.90 | 13.87 |
| International priority | 60.61 | 55.36 | 55.37 |
| International economy | 41.73 | 46.14 | 43.33 |
| International export composite | 54.85 | 51.94 | 50.06 |
| International domestic2 | 9.07 | 9.40 | 9.53 |
| Composite package yield | $ 15.75 | $ 15.80 | $ 15.86 |
| Freight Statistics | |||
| Average daily freight pounds: | |||
| U.S. | 6,711 | 5,636 | 5,319 |
| International priority | 5,435 | 4,444 | 4,465 |
| International economy | 12,099 | 11,364 | 10,706 |
| Total average daily freight pounds | 24,245 | 21,444 | 20,490 |
| Revenue per pound (yield): | |||
| U.S. | $ 1.68 | $ 1.66 | $ 1.67 |
| International priority | 2.21 | 1.94 | 1.84 |
| International economy | 0.56 | 0.64 | 0.68 |
| Composite freight yield | $ 1.24 | $ 1.18 | $ 1.19 |
| Package YOY growth rates | |||
| Average daily volume growth: | |||
| U.S. priority | (4.4%) | (4.8%) | |
| U.S. deferred | (4.6%) | (0.2%) | |
| U.S. ground commercial | 2.0% | - | |
| U.S. ground home delivery/economy | (1.2%) | 0.4% | |
| Total U.S. domestic | (0.9%) | (0.4%) | |
| International priority | (5.8%) | (5.5%) | |
| International economy | 26.7% | 34.5% | |
| Total international export | 4.1% | 8.8% | |
| International domestic2 | (1.6%) | (3.9%) | |
| Total package volume growth | (0.7%) | (0.2%) | |
| Revenue growth: | |||
| U.S. priority | (3.2%) | (3.1%) | |
| U.S. deferred | (3.9%) | (3.0%) | |
| U.S. ground | 1.9% | (0.9%) | |
| Total U.S. domestic | 0.2% | (1.6%) | |
| International priority | (13.6%) | (5.2%) | |
| International economy | 40.7% | 21.8% | |
| Total international export | (1.0%) | 3.5% | |
| International domestic2 | 2.4% | (2.5%) | |
| Total package revenue growth | 0.1% | (0.6%) | |
| Avg pounds per package | 14.1 | 14.6 | 14.3 |
| Avg revenue per package lb. | $1.12 | $1.08 | $1.11 |
| Operating days | 255 | 256 | 64 |
| 1 - Average daily package volume is calculated on a five-days-per-week basis. U.S. ground home delivery/economy has been revised from the seven-days-per-week calculation to align with the revised financial presentation related to our one FedEx consolidation. | |||
| 2 - International domestic statistics relate to our international intra-country operations. | |||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Express 23-24 opstats
| Federal Express Segment | ||||||||
| Quarterly Operating Statistics | ||||||||
| FY 2023 - FY 2024 | ||||||||
| Year ended May 31 | ||||||||
| In thousands, except yield amounts | ||||||||
| FY 2023 | FY 2024 | |||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| Package Statistics | ||||||||
| Average daily package volume (ADV)1: | ||||||||
| U.S. priority | 1,770 | 1,740 | 1,709 | 1,676 | 1,680 | 1,676 | 1,634 | 1,606 |
| U.S. deferred | 1,070 | 1,043 | 1,141 | 1,002 | 970 | 1,009 | 1,104 | 978 |
| U.S. ground commercial | 4,177 | 4,314 | 4,156 | 4,132 | 4,287 | 4,392 | 4,189 | 4,237 |
| U.S. ground home delivery/economy | 6,495 | 6,934 | 7,377 | 6,253 | 6,411 | 6,991 | 7,090 | 6,243 |
| Total U.S. domestic ADV | 13,512 | 14,031 | 14,383 | 13,063 | 13,348 | 14,068 | 14,017 | 13,064 |
| International priority | 700 | 736 | 701 | 695 | 658 | 673 | 663 | 674 |
| International economy | 293 | 320 | 312 | 318 | 365 | 406 | 393 | 412 |
| Total international export ADV | 993 | 1,056 | 1,013 | 1,013 | 1,023 | 1,079 | 1,056 | 1,086 |
| International domestic2 | 1,860 | 2,119 | 1,974 | 1,922 | 1,896 | 2,085 | 1,883 | 1,884 |
| Total ADV | 16,365 | 17,206 | 17,370 | 15,998 | 16,267 | 17,232 | 16,956 | 16,034 |
| Revenue per package (yield): | ||||||||
| U.S. priority | $ 24.70 | $ 24.73 | $ 24.93 | $ 24.79 | $ 24.49 | $ 24.67 | $ 25.20 | $ 25.58 |
| U.S. deferred | 18.49 | 19.07 | 19.02 | 19.06 | 18.81 | 19.00 | 18.93 | 19.14 |
| U.S. ground | 11.35 | 11.43 | 11.70 | 11.87 | 11.70 | 11.59 | 11.77 | 12.00 |
| Total U.S. domestic composite | 13.66 | 13.65 | 13.85 | 14.08 | 13.82 | 13.68 | 13.90 | 14.20 |
| International priority | 63.66 | 60.90 | 59.05 | 58.75 | 54.37 | 56.37 | 55.48 | 55.23 |
| International economy | 42.48 | 40.23 | 40.90 | 43.29 | 47.15 | 46.19 | 44.71 | 46.54 |
| International export composite | 57.42 | 54.63 | 53.46 | 53.89 | 51.80 | 52.54 | 51.47 | 51.93 |
| International domestic2 | 9.15 | 8.74 | 9.22 | 9.22 | 9.25 | 9.24 | 9.59 | 9.53 |
| Composite package yield | $ 15.80 | $ 15.56 | $ 15.64 | $ 16.02 | $ 15.68 | $ 15.57 | $ 15.76 | $ 16.21 |
| Freight Statistics | ||||||||
| Average daily freight pounds: | ||||||||
| U.S. | 7,280 | 7,471 | 6,662 | 5,451 | 5,305 | 5,663 | 6,067 | 5,525 |
| International priority | 6,042 | 5,757 | 5,290 | 4,657 | 4,390 | 4,472 | 4,353 | 4,557 |
| International economy | 11,614 | 13,234 | 11,979 | 11,598 | 11,001 | 11,857 | 11,072 | 11,531 |
| Total average daily freight pounds | 24,936 | 26,462 | 23,931 | 21,706 | 20,696 | 21,992 | 21,492 | 21,613 |
| Revenue per pound (yield): | ||||||||
| U.S. | $ 1.67 | $ 1.65 | $ 1.73 | $ 1.70 | $ 1.67 | $ 1.62 | $ 1.68 | $ 1.66 |
| International priority | 2.26 | 2.24 | 2.10 | 2.23 | 1.94 | 2.02 | 1.90 | 1.90 |
| International economy | 0.57 | 0.53 | 0.56 | 0.58 | 0.66 | 0.63 | 0.63 | 0.66 |
| Composite freight yield | $ 1.30 | $ 1.22 | $ 1.22 | $ 1.21 | $ 1.19 | $ 1.17 | $ 1.18 | $ 1.18 |
| Package YOY growth rates | ||||||||
| Average daily volume growth: | ||||||||
| U.S. priority | (5.1%) | (3.7%) | (4.4%) | (4.2%) | ||||
| U.S. deferred | (9.3%) | (3.3%) | (3.2%) | (2.4%) | ||||
| U.S. ground commercial | 2.6% | 1.8% | 0.8% | 2.5% | ||||
| U.S. ground home delivery/economy | (1.3%) | 0.8% | (3.9%) | (0.2%) | ||||
| Total U.S. domestic | (1.2%) | 0.3% | (2.5%) | - | ||||
| International priority | (6.0%) | (8.6%) | (5.4%) | (3.0%) | ||||
| International economy | 24.6% | 26.9% | 25.9% | 29.6% | ||||
| Total international export | 3.0% | 2.2% | 4.3% | 7.2% | ||||
| International domestic2 | 1.9% | (1.6%) | (4.6%) | (2.0%) | ||||
| Total package volume growth | (0.6%) | 0.2% | (2.4%) | 0.2% | ||||
| Revenue growth: | ||||||||
| U.S. priority | (5.9%) | (3.9%) | (1.8%) | (1.2%) | ||||
| U.S. deferred | (7.8%) | (3.7%) | (2.2%) | (1.9%) | ||||
| U.S. ground | 3.3% | 2.5% | - | 2.0% | ||||
| Total U.S. domestic | - | 0.4% | (0.7%) | 0.9% | ||||
| International priority | (19.7%) | (15.3%) | (9.7%) | (8.8%) | ||||
| International economy | 38.2% | 45.7% | 39.9% | 39.1% | ||||
| Total international export | (7.0%) | (1.7%) | 2.0% | 3.3% | ||||
| International domestic2 | 3.1% | 4.0% | 1.0% | 1.3% | ||||
| Total package revenue growth | (1.4%) | 0.2% | - | 1.4% | ||||
| Avg pounds per package | 14.2 | 13.8 | 13.7 | 14.5 | 14.7 | 14.4 | 14.2 | 15.1 |
| Avg revenue per package lb. | $1.11 | $1.13 | $1.14 | $1.10 | $1.07 | $1.08 | $1.11 | $1.07 |
| Operating days | 65 | 63 | 62 | 65 | 65 | 63 | 63 | 65 |
| 1 - Average daily package volume is calculated on a five-days-per-week basis. U.S. ground home delivery/economy has been revised from the seven-days-per-week calculation to align with the revised financial presentation related to our one FedEx consolidation. | ||||||||
| 2 - International domestic statistics relate to our international intra-country operations. | ||||||||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Express 25 opstats
| Federal Express Segment | ||||
| Quarterly Operating Statistics | ||||
| FY 2025 | ||||
| Year ended May 31 | ||||
| In thousands, except yield amounts | ||||
| FY 2025 | ||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| Package Statistics | ||||
| Average daily package volume (ADV)1: | ||||
| U.S. priority | 1,600 | |||
| U.S. deferred | 968 | |||
| U.S. ground commercial | 4,289 | |||
| U.S. ground home delivery/economy | 6,438 | |||
| Total U.S. domestic ADV | 13,295 | |||
| International priority | 622 | |||
| International economy | 491 | |||
| Total international export ADV | 1,113 | |||
| International domestic2 | 1,823 | |||
| Total ADV | 16,231 | |||
| Revenue per package (yield): | ||||
| U.S. priority | $ 25.30 | |||
| U.S. deferred | 18.59 | |||
| U.S. ground | 11.73 | |||
| Total U.S. domestic composite | 13.87 | |||
| International priority | 55.37 | |||
| International economy | 43.33 | |||
| International export composite | 50.06 | |||
| International domestic2 | 9.53 | |||
| Composite package yield | $ 15.86 | |||
| Freight Statistics | ||||
| Average daily freight pounds: | ||||
| U.S. | 5,319 | |||
| International priority | 4,465 | |||
| International economy | 10,706 | |||
| Total average daily freight pounds | 20,490 | |||
| Revenue per pound (yield): | ||||
| U.S. | $ 1.67 | |||
| International priority | 1.84 | |||
| International economy | 0.68 | |||
| Composite freight yield | $ 1.19 | |||
| Package YOY growth rates | ||||
| Average daily volume growth: | ||||
| U.S. priority | (4.8%) | |||
| U.S. deferred | (0.2%) | |||
| U.S. ground commercial | - | |||
| U.S. ground home delivery/economy | 0.4% | |||
| Total U.S. domestic | (0.4%) | |||
| International priority | (5.5%) | |||
| International economy | 34.5% | |||
| Total international export | 8.8% | |||
| International domestic2 | (3.9%) | |||
| Total package volume growth | (0.2%) | |||
| Revenue growth: | ||||
| U.S. priority | (3.1%) | |||
| U.S. deferred | (3.0%) | |||
| U.S. ground | (0.9%) | |||
| Total U.S. domestic | (1.6%) | |||
| International priority | (5.2%) | |||
| International economy | 21.8% | |||
| Total international export | 3.5% | |||
| International domestic2 | (2.5%) | |||
| Total package revenue growth | (0.6%) | |||
| Avg pounds per package | 14.3 | |||
| Avg revenue per package lb. | $1.11 | |||
| Operating days3 | 64 | 63 | 63 | 64 |
| 1 - Average daily package volume is calculated on a five-days-per-week basis. U.S. ground home delivery/economy has been revised from the seven-days-per-week calculation to align with the one FedEx consolidation. | ||||
| 2 - International domestic statistics relate to our international intra-country operations. | ||||
| 3 - Operating weekdays for Q1 - Q4 FY26 are forecasted at 64, 63, 63, and 64 days respectively. | ||||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Fuel Stats
| Federal Express Segment | ||||||||
| Fuel Statistics | ||||||||
| FY 2023 - FY 2025 | ||||||||
| FY 2023 | FY 2024 | |||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| Jet Fuel Gallons (000s) | 361,676 | 349,863 | 318,118 | 317,536 | 312,053 | 325,233 | 313,239 | 316,491 |
| Price Per Gallon | $ 3.900 | $ 3.469 | $ 3.258 | $ 2.692 | $ 2.638 | $ 3.150 | $ 2.783 | $ 2.776 |
| Jet Fuel Expense ($000s) | $ 1,410,573 | $ 1,213,503 | $ 1,036,427 | $ 854,953 | $ 823,174 | $ 1,024,590 | $ 871,634 | $ 878,573 |
| FY 2025 | ||||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |||||
| Jet Fuel Gallons (000s) | 319,180 | |||||||
| Price Per Gallon | $ 2.592 | |||||||
| Jet Fuel Expense ($000s) | $ 827,292 | |||||||
| FY 2023 | FY 2024 | |||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| Vehicle Fuel Gallons (000s) | 32,670 | 31,970 | 31,006 | 31,441 | 31,239 | 29,117 | 30,146 | 29,191 |
| Price Per Gallon | $ 5.320 | $ 4.935 | $ 4.535 | $ 4.246 | $ 4.190 | $ 4.481 | $ 4.129 | $ 4.126 |
| Vehicle Fuel Expense ($000s) | $ 173,820 | $ 157,766 | $ 140,617 | $ 133,501 | $ 130,889 | $ 130,468 | $ 124,485 | $ 120,440 |
| FY 2025 | ||||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |||||
| Vehicle Fuel Gallons (000s) | 31,741 | |||||||
| Price Per Gallon | $ 4.002 | |||||||
| Vehicle Fuel Expense ($000s) | $ 127,016 | |||||||
| Unaudited. Differences may result due to rounding. Jet fuel statistics were not revised as a result of the revised financial presentation related to our one FedEx consolidation. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
fleet
| Federal Express Segment | ||||||||||
| Aircraft Fleet Statistics | ||||||||||
| FY 2023 - FY 2030 | ||||||||||
| Gross Max Structural Payload (Lbs/Aircraft) | As of May 31, | As of Aug. 31, | To Be Delivered/(Retired) in FY | |||||||
| 2023 | 2024 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | ||
| Trunk (Jet) Aircraft: | ||||||||||
| Boeing 757-200 | 63,000 | 115 | 92 | 92 | - | - | - | - | - | - |
| Boeing 767F1 | 127,100 | 128 | 138 | 140 | 9 | 3 | - | - | - | - |
| Boeing MD112 | 192,600 | 46 | 37 | 37 | (9) | (10) | (9) | (9) | - | - |
| Boeing 777F3 | 233,300 | 53 | 57 | 57 | 2 | - | - | - | - | - |
| Airbus A300-600 | 106,600 | 65 | 65 | 65 | - | - | - | - | - | - |
| Subtotal - Trunk Aircraft | 407 | 389 | 391 | 2 | (7) | (9) | (9) | - | - | |
| Feeder (Turboprop) Aircraft: | ||||||||||
| Cessna 208B | 2,830 | 234 | 233 | 231 | - | - | - | - | - | - |
| Cessna 4084 | 6,000 | 9 | 19 | 19 | 17 | 14 | - | - | - | - |
| ATR-72 | 17,970 | 19 | 19 | 19 | - | - | - | - | - | - |
| ATR-72 600F5 | 19,290 | 13 | 20 | 22 | 4 | 4 | - | - | - | - |
| ATR-42 | 12,070 | 18 | 18 | 16 | - | - | - | - | - | - |
| Subtotal - Feeder Aircraft | 293 | 309 | 307 | 21 | 18 | - | - | - | - | |
| Aircraft Fleet Total | 700 | 698 | 698 | 23 | 11 | (9) | (9) | - | - | |
| Scheduled Lease Expirations:6 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | ||||
| Airbus A300-6007 | - | 2 | - | - | - | - | ||||
| NOTE: Aircraft fleet delivery and retirement schedule is subject to change. | ||||||||||
| 1 - As of August 31, 2024 we are committed to purchase 12 B767F aircraft and have options to purchase an additional 43 B767F aircraft. | ||||||||||
| 2 - MD-11 aircraft fleet retirement schedule is subject to change. | ||||||||||
| 3 - As of August 31, 2024 we are committed to purchase two B777F aircraft and have options to purchase an additional 23 B777F aircraft. | ||||||||||
| 4 - As of August 31, 2024 we are committed to purchase 31 Cessna SkyCourier 408 aircraft and have options to purchase an additional 50 Cessna SkyCourier 408 aircraft. | ||||||||||
| 5 - As of August 31, 2024 we are committed to purchase 8 ATR-72 600F aircraft and have options to purchase an additional 20 ATR-72 600F aircraft. | ||||||||||
| 6 - Leased aircraft disposition determined by expiration. | ||||||||||
| 7 - Includes executed agreement to purchase one leased Airbus A300-600 aircraft in 2026. | ||||||||||
| Unaudited. Differences may result due to rounding. Aircraft fleet statistics were not revised as a result of our one FedEx consolidation. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Grd 21-24opstats
| FedEx Ground Segment | ||||||||||||||||
| Quarterly Operating Statistics | ||||||||||||||||
| FY 2021 - FY 2024 | ||||||||||||||||
| FY 2021 | FY 2022 | FY 2021 | FY 2022 | |||||||||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| FedEx Ground | ||||||||||||||||
| Average Daily Package Volume (000s):1 | ||||||||||||||||
| Ground Commercial | 3,966 | 4,392 | 4,327 | 4,572 | 4,425 | 4,774 | 4,503 | 4,500 | U.S. Ground Home Delivery/Economy | |||||||
| Home Delivery | 3,682 | 3,913 | 4,645 | 3,968 | 3,747 | 4,328 | 4,860 | 3,981 | 5,380 | 5,609 | 6,256 | 5,342 | 4,911 | 5,606 | 6,067 | 4,860 |
| Economy | 1,698 | 1,696 | 1,611 | 1,374 | 1,164 | 1,278 | 1,207 | 879 | ||||||||
| Total Average Daily Package Volume | 9,346 | 10,001 | 10,583 | 9,914 | 9,336 | 10,380 | 10,570 | 9,360 | ||||||||
| Yield (Revenue Per Package) | $ 9.33 | $ 9.42 | $ 9.72 | $ 10.31 | $ 10.29 | $ 10.26 | $ 10.62 | $ 11.41 | ||||||||
| Average Daily YOY Package Growth Rate: | ||||||||||||||||
| Ground Commercial | - | - | - | 33.8% | 11.6% | 8.7% | 4.1% | (1.6%) | ||||||||
| Home Delivery | - | - | - | 11.6% | 1.8% | 10.6% | 4.6% | 0.3% | ||||||||
| Economy | - | - | - | (24.5%) | (31.4%) | (24.6%) | (25.1%) | (36.0%) | ||||||||
| Total Average Daily YOY Package Growth Rate | 5.8% | 4.7% | 0.4% | 12.7% | (0.1%) | 3.8% | (0.1%) | (5.6%) | ||||||||
| Yield YOY Growth Rate | 2.2% | 7.0% | 10.7% | 14.4% | 10.3% | 8.9% | 9.3% | 10.7% | ||||||||
| Operating Days: | ||||||||||||||||
| Ground Commercial2 | 66 | 63 | 62 | 65 | 66 | 63 | 64 | 65 | ||||||||
| Home Delivery and Economy3 | 91 | 89 | 88 | 91 | 91 | 89 | 88 | 91 | ||||||||
| FY 2023 | FY 2024 | FY 2023 | FY 2024 | |||||||||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | |||
| FedEx Ground | ||||||||||||||||
| Average Daily Package Volume (000s):1 | ||||||||||||||||
| Ground Commercial | 4,368 | 4,523 | 4,226 | 4,329 | 4,479 | 4,609 | ERROR:#REF! | U.S. Ground Home Delivery/Economy | ||||||||
| Home Delivery | 3,912 | 4,084 | 4,359 | 3,743 | 3,846 | 4,076 | ERROR:#REF! | 4,642 | 4,912 | 5,202 | 4,469 | 4,582 | 4,950 | |||
| Economy | 730 | 828 | 843 | 726 | 736 | 874 | ERROR:#REF! | |||||||||
| Total Average Daily Package Volume | 9,010 | 9,435 | 9,428 | 8,798 | 9,061 | 9,559 | ERROR:#REF! | |||||||||
| Yield (Revenue Per Package) | $ 11.48 | $ 11.55 | $ 11.80 | $ 11.97 | $ 11.80 | $ 11.69 | ERROR:#REF! | |||||||||
| Average Daily YOY Package Growth Rate: | ||||||||||||||||
| Ground Commercial | (1.3%) | (5.3%) | (6.2%) | (3.8%) | 2.5% | 1.9% | ERROR:#REF! | |||||||||
| Home Delivery | 4.4% | (5.6%) | (10.3%) | (6.0%) | (1.7%) | (0.2%) | ERROR:#REF! | U.S. Ground Home Delivery/Economy | ||||||||
| Economy | (37.3%) | (35.2%) | (30.2%) | (17.4%) | 0.8% | 5.6% | ERROR:#REF! | (5.5%) | (12.4%) | (14.3%) | (8.0%) | (1.3%) | 0.8% | |||
| Total Average Daily YOY Package Growth Rate | (3.5%) | (9.1%) | (10.8%) | (6.0%) | 0.6% | 1.3% | ERROR:#REF! | |||||||||
| Yield YOY Growth Rate | 11.6% | 12.5% | 11.5% | 5.3% | 2.8% | 1.2% | ERROR:#REF! | |||||||||
| Operating Days: | ||||||||||||||||
| Ground Commercial2 | 65 | 63 | 64 | 65 | 65 | 63 | 63 | 65 | ||||||||
| Home Delivery and Economy3 | 91 | 89 | 88 | 91 | 91 | 89 | 89 | 91 | ||||||||
| 1 - FedEx Ground Commercial average daily package volume is calculated on a 5-day-per-week basis, while Home Delivery and Economy average daily package volumes are calculated on a 7-day-per-week basis. | ||||||||||||||||
| 2 - Ground Commercial operating days for Q1 - Q4 FY25 are forecasted at 64, 63, 63, and 64 days respectively. | ||||||||||||||||
| 3 - Home Delivery and Economy operating days for Q1 - Q4 FY25 are forecasted at 91, 89, 88, and 91 days respectively. | ||||||||||||||||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Frt IncState
| FedEx Freight Segment | |||
| Annual Consolidated Statements of Income | |||
| FY 2023 - FY 2025 | |||
| Years ended May 31 | |||
| In millions | |||
| FY 2023 | FY 2024 | Q1 YTD FY 2025 | |
| Revenue | $ 10,084 | $ 9,429 | $ 2,329 |
| Operating expenses: | |||
| Salaries and employee benefits | 4,057 | 3,923 | 984 |
| Purchased transportation | 1,078 | 877 | 203 |
| Rentals | 269 | 280 | 71 |
| Depreciation and amortization | 387 | 404 | 110 |
| Fuel | 748 | 571 | 121 |
| Maintenance and repairs | 320 | 330 | 82 |
| Intercompany charges | 542 | 543 | 148 |
| Other | 747 | 680 | 171 |
| Total operating expenses | 8,148 | 7,608 | 1,890 |
| Operating income | $1,936 | $1,821 | $439 |
| Operating margin | 19.2% | 19.3% | 18.8% |
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Frt 23-25qtr
| FedEx Freight Segment | ||||||||
| Quarterly Consolidated Statements of Income | ||||||||
| FY 2023 - FY 2025 | ||||||||
| Years ended May 31 | ||||||||
| In millions | ||||||||
| FY 2023 | FY 2024 | |||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| Revenue | $ 2,849 | $ 2,573 | $ 2,293 | $ 2,369 | $ 2,385 | $ 2,452 | $ 2,205 | $ 2,387 |
| Operating expenses: | ||||||||
| Salaries and employee benefits | 1,073 | 1,053 | 960 | 971 | 985 | 1,018 | 959 | 961 |
| Purchased transportation | 318 | 281 | 253 | 226 | 219 | 231 | 218 | 209 |
| Rentals | 65 | 67 | 68 | 69 | 69 | 70 | 70 | 71 |
| Depreciation and amortization | 106 | 103 | 74 | 104 | 108 | 81 | 108 | 107 |
| Fuel | 228 | 211 | 162 | 147 | 139 | 164 | 134 | 134 |
| Maintenance and repairs | 81 | 88 | 77 | 74 | 75 | 94 | 78 | 83 |
| Intercompany charges | 136 | 134 | 135 | 137 | 139 | 134 | 132 | 138 |
| Other | 185 | 194 | 177 | 191 | 169 | 169 | 165 | 177 |
| Total operating expenses | 2,192 | 2,131 | 1,906 | 1,919 | 1,903 | 1,961 | 1,864 | 1,880 |
| Operating income | $ 657 | $ 442 | $ 387 | $ 450 | $ 482 | $ 491 | $ 341 | $ 507 |
| Operating margin | 23.1% | 17.2% | 16.9% | 19.0% | 20.2% | 20.0% | 15.5% | 21.2% |
| FY 2025 | ||||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |||||
| Revenue | $ 2,329 | |||||||
| Operating expenses: | ||||||||
| Salaries and employee benefits | 984 | |||||||
| Purchased transportation | 203 | |||||||
| Rentals | 71 | |||||||
| Depreciation and amortization | 110 | |||||||
| Fuel | 121 | |||||||
| Maintenance and repairs | 82 | |||||||
| Intercompany charges | 148 | |||||||
| Other | 171 | |||||||
| Total operating expenses | 1,890 | |||||||
| Operating income | $439 | |||||||
| Operating margin | 18.8% | |||||||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Frt annopstats
| FedEx Freight Segment | |||
| Annual Operating Statistics | |||
| FY 2023 - FY 2025 | |||
| FY 2023 | FY 2024 | Q1 YTD FY 2025 | |
| Shipments per day | |||
| Priority | 70,158 | 64,915 | 62,893 |
| Economy | 29,562 | 29,072 | 29,115 |
| Total shipments per day | 99,720 | 93,987 | 92,008 |
| Weight per shipment (lbs) | |||
| Priority | 1,027 | 977 | 956 |
| Economy | 912 | 878 | 868 |
| Composite weight per shipment | 993 | 946 | 928 |
| Revenue/shipment | |||
| Priority | $ 363.85 | $ 361.38 | $ 363.97 |
| Economy | 417.50 | 411.25 | 408.60 |
| Composite revenue/shipment | $ 379.76 | $ 376.81 | $ 378.09 |
| Revenue/CWT | |||
| Priority | $ 35.44 | $ 36.98 | $ 38.06 |
| Economy | 45.78 | 46.86 | 47.09 |
| Composite revenue/CWT | $ 38.26 | $ 39.82 | $ 40.73 |
| Avg. daily shipment growth rate | |||
| Priority | (7.5%) | (4.9%) | |
| Economy | (1.7%) | 2.2% | |
| Total shipments per day | (5.7%) | (2.8%) | |
| Revenue/shipment growth rate | |||
| Priority | (0.7%) | 3.1% | |
| Economy | (1.5%) | 0.1% | |
| Total composite revenue/shipment | (0.8%) | 2.3% | |
| Operating weekdays | 253 | 254 | 64 |
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Frt 23-24opstats
| FedEx Freight | ||||||||
| Quarterly Operating Statistics | ||||||||
| FY 2023 - FY 2024 | ||||||||
| FY 2023 | FY 2024 | |||||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| Shipments per day | ||||||||
| Priority | 76,174 | 73,372 | 65,402 | 65,540 | 66,144 | 68,486 | 61,483 | 63,556 |
| Economy | 32,104 | 30,964 | 27,685 | 27,446 | 28,491 | 30,515 | 27,765 | 29,524 |
| Total shipments per day | 108,278 | 104,336 | 93,087 | 92,986 | 94,635 | 99,001 | 89,248 | 93,080 |
| Weight per shipment (lbs) | ||||||||
| Priority | 1,054 | 1,029 | 1,014 | 1,004 | 989 | 975 | 974 | 970 |
| Economy | 938 | 940 | 890 | 873 | 876 | 880 | 885 | 871 |
| Composite weight per shipment | 1,020 | 1,002 | 977 | 966 | 955 | 946 | 946 | 939 |
| Revenue/shipment | ||||||||
| Priority | $ 369.60 | $ 361.57 | $ 366.17 | $ 357.44 | $ 353.01 | $ 365.55 | $ 363.21 | $ 364.11 |
| Economy | 423.59 | 415.35 | 418.65 | 411.62 | 407.99 | 415.82 | 414.79 | 406.73 |
| Composite revenue/shipment | $ 385.61 | $ 377.53 | $ 381.77 | $ 373.43 | $ 369.56 | $ 381.05 | $ 379.26 | $ 377.63 |
| Revenue/CWT | ||||||||
| Priority | $ 35.06 | $ 35.14 | $ 36.12 | $ 35.60 | $ 35.71 | $ 37.48 | $ 37.31 | $ 37.52 |
| Economy | 45.16 | 44.21 | 47.06 | 47.13 | 46.59 | 47.26 | 46.89 | 46.70 |
| Composite revenue/CWT | $ 37.82 | $ 37.66 | $ 39.08 | $ 38.68 | $ 38.71 | $ 40.29 | $ 40.10 | $ 40.22 |
| Avg. daily shipment growth rate | ||||||||
| Priority | (13.2%) | (6.7%) | (6.0%) | (3.0%) | ||||
| Economy | (11.3%) | (1.5%) | 0.3% | 7.6% | ||||
| Total shipments per day | (12.6%) | (5.1%) | (4.1%) | 0.1% | ||||
| Revenue/shipment YOY growth rate | ||||||||
| Priority | (4.5%) | 1.1% | (0.8%) | 1.9% | ||||
| Economy | (3.7%) | 0.1% | (0.9%) | (1.2%) | ||||
| Total composite revenue/shipment | (4.2%) | 0.9% | (0.7%) | 1.1% | ||||
| Operating weekdays | 65 | 62 | 61 | 65 | 65 | 62 | 62 | 65 |
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
Frt 25 opstats
| FedEx Freight | ||||
| Quarterly Operating Statistics | ||||
| FY 2025 | ||||
| FY 2025 | ||||
| FIRST QUARTER | SECOND QUARTER | THIRD QUARTER | FOURTH QUARTER | |
| Shipments per day | ||||
| Priority | 62,893 | |||
| Economy | 29,115 | |||
| Total shipments per day | 92,008 | |||
| Weight per shipment (lbs) | ||||
| Priority | 956 | |||
| Economy | 868 | |||
| Composite weight per shipment | 928 | |||
| Revenue/shipment | ||||
| Priority | $ 363.97 | |||
| Economy | 408.60 | |||
| Composite revenue/shipment | $ 378.09 | |||
| Revenue/CWT | ||||
| Priority | $ 38.06 | |||
| Economy | 47.09 | |||
| Composite revenue/CWT | $ 40.73 | |||
| Avg. daily shipment growth rate | ||||
| Priority | (4.9%) | |||
| Economy | 2.2% | |||
| Total shipments per day | (2.8%) | |||
| Revenue/shipment YOY growth rate | ||||
| Priority | 3.1% | |||
| Economy | 0.1% | |||
| Total composite revenue/shipment | 2.3% | |||
| Operating weekdays1 | 64 | 62 | 62 | 64 |
| 1 - Operating weekdays for Q1 - Q4 FY26 are forecasted at 64, 62, 62, and 64 days respectively. | ||||
| Unaudited. Differences may result due to rounding. |
&"Arial,Regular"&10Q1 FY24 Stat Book / &P
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