• Photo: FedEx


Artikel Nummer: 37869

Higher revenues, lower profits for FedEx

FedEx has reported its consolidated results for the first quarter, ending on 31 August, which were affected by disruptive impacts on global supply chains and a lack of labour.

Revenues grew by 14% compared to Q1 last year, and came to USD 22 billion; operating income fell by 11.9% to USD 1.4 billion. Net income declined by around the same amount – 11.2% to USD 1.11 billion.
The quarter saw extra costs, estimated at USD 450 million, compared to the same period last year, arising from a constrained HR market worldwide.

This effect was only partially offset by higher parcels and freight yields, increased international express export shipments and a better price of fuel. In addition, supply chain disruptions slowed US domestic parcels demand, compared to FedEx’s forecast for the year. (sh)


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