FedEx Q1 2020 Earnings
First quarter results were impacted by several factors:
- Weakening global trade and industrial production.
- Shift from heavier weight and faster service to lighter weight with lower price services.
- Ground expansion of operations to six days per week.
- The loss of volume from Amazon.
- Increased operating costs from investments in strategic programs.
- Total revenue of $17.048 Billion (down 0.02% from same time last year).
- Operating income of $977M, down 9%
- Operating Margin of 5.7%, down from 6.3%
- Net income of $745M (vs $835M last year) – down 11%
- Operating expenses up 0.5% to $16.1B
- EPS of $3.05 (vs $3.46 last year) – down 13%
- Revenue fell 2%
- Daily volume grew 0.6%
- Yield fell 0.6%
- Volume grew 7%
- Revenue per package grew 2%
- Volume fell 4%
- Revenue per shipment grew 2.6%
- Total weight per shipment fell 5%