FedEx Corporation reports 1Q net income of $459 million, down 1%
FedEx Corporation (FedEx Express) (Memphis) reported earnings of $1.45 per diluted share for the fiscal first quarter ended August 31, compared to $1.46 per share last year.
FedEx Corporation reported the following consolidated results for the first quarter:
• Revenue of $10.79 billion, up 3% from $10.52 billion the previous year
• Operating income of $742 million, up 1% from $737 million last year
• Operating margin of 6.9%, down from 7.0% the previous year
• Net income of $459 million, down 1% from last year’s $464 million
During the quarter, improved FedEx Freight results and the continued strong performance at FedEx Ground were more than offset by lower demand for priority services at FedEx Express.
Copyright Photo: Nick Dean.