FedEx Corporation reports higher fiscal fourth quarter earnings, $1.5 billion net profit for the year

FedEx Corporation (Memphis) reported earnings of $1.75 per diluted share for the fourth quarter ended May 31, compared to $1.33 per diluted share a year ago, a year-over-year increase of 32%.

FedEx Corporation reported the following consolidated results for the fiscal fourth quarter:

Revenue of $10.55 billion, up 12% from $9.43 billion the previous year

Operating income of $888 million, up 28% from $696 million last year

Operating margin of 8.4%, up from 7.4% the previous year

Net income of $558 million, up 33% from last year’s $419 million

Revenue and earnings increased due to continued strong yield improvement in all transportation segments and volume growth of ground and international express shipments. FedEx Freight’s return to profitability also improved operating results.

FedEx Corp. reported the following consolidated results for the full fiscal year:

Revenue of $39.3 billion, up 13% from $34.7 billion the previous year

Operating income of $2.38 billion, up 19% from $2.00 billion last year

Net income of $1.45 billion, up 23% from last year’s $1.18 billion

Adjusted earnings per share of $4.90, up from $3.76 per share a year ago.

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