FedEx Freight

Company officials said that this facility, its West Phoenix Service Center, is “perfectly positioned” to serve the growing Phoenix market, while bringing FedEx Freight’s total door count to almost 26,000.

Late last year, FedEx Logistics, a subsidiary of global freight transportation and logistics services provider FedEx, said its FedEx Trade Networks unit, which provides air and ocean freight forwarding, customs brokerage, and value-added services, was integrating the WiseTech Global’s CargoWise digital platform into its global ocean and air transportation network. LM Group News Editor Jeff Berman recently caught up with FedEx Trade Networks President Patrick Moebel to learn more about this integration with WiseTech and other aspects of the...

Quarterly revenue—at $23.5 billion—was up 14% annually, and operating income—at $1.6 billion—rose 9% annually. Diluted earnings per share—at $4.83—were flat, exceeding of Wall Street expectations of $4.28.

Quarterly revenue—at $22 billion—saw a 14% annual increase, and operating income—at $1.398 billion—slipped 12% annually. Diluted earnings per share—at $4.09—were off 13%, falling short of Wall Street expectations of $4.89.

FY 2022 full-year revenue rose 17.6% annually, and operating income climbed 46.8% annually. For the fiscal fourth quarter, revenue rose 23% annually, and operating income headed up 278%. Earnings per share (topping Wall Street expectations of $5.02 per share) well outpaced the $1.28 per share recorded a year ago, as well as a $334 million loss.

Logistics Management Group News Editor Jeff Berman recently spoke with Bonnie Voldeng, VP, FedEx Freight Direct, the company's last-mile and e-commerce-focused service that handles the delivery of bulky items like furniture, televisions, and exercise equipment, among other items. From FY19 to FY20, FedEx Freight’s e-commerce portfolio saw a 71% annual volume increase, including FedEx Freight Direct.

Company officials said that these coming rate increases will “enable FedEx to continue investing in service enhancement, fleet maintenance, technology innovations and other areas to serve customers more effectively and efficiently.”

Revenue—at $17.4 billion—was off 2.3% compared to $17.8 billion a year ago, and operating income—at $475 million—was well off from $1.32 billion a year ago. The company’s quarterly net income on an adjusted basis—at $663 million—trailed the $1.32 billion recorded a year ago. Adjusted earnings per share—at $2.53—trailed the $5.01 from a year ago while topping Wall Street expectations of $1.52.

Earnings per share, at $1.41, fell short of Wall Street expectations of $1.43, and revenue, at $17.5 billion, was up 1% annually. Net income, at $315 million, dropped 57% for the same period, and quarterly operating income, at $411 million, was down 55%.

FedEx Freight describes FedEx Freight Direct as an e-commerce service that handles the delivery of bulky items like furniture, televisions, and exercise equipment, among other items.

Following various reports in January that indicated FedEx Freight, the less-than-truckload (LTL) subsidiary of Memphis-based transportation and logistics titan FedEx, was taking its initial steps into the rapidly-growing, e-commerce-driven last-mile logistics sector, a recent report confirmed that the company’s plan remains on track.

The push for nationwide use of 33-foot trailer combinations is back. Currently limited to twin 28-foot trailers, companies such as UPS and FedEx would gain an estimated 18% in productivity if twin-33s were allowed nationally.

Learn about the 35th Annual Quest for Quality Award winners for National / Multi-Regional Less-than-truckload (LTL) Providers.

First quarter net income at $596 million was down 16% annually, with earnings per share at $2.19, which is 17.4% below last year’s $2.65 and below Wall Street estimates of $3.09.

If you ask anyone heavily involved in the less-than-truckload (LTL) sector, what their most pressing need or concern is, there is a good chance that you will be told that five more feet of trailer space, from 28 to 33, is at the top of the wish list for a whole host of reasons.