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