FedEx Profit Down Slightly in 4th Quarter; International Revenue Down 1%
FedEx had $550 million net profit for the fourth quarter ended May 31, down slightly from $558 million the previous year. Revenue was up 4% to $11 billion. FedEx said its international priority (IP) revenue per package grew 3% due…
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to higher package weights and fuel surcharges, but average daily package volume decreased 3% driven by year-over-year declines from Asia. IP freight pounds increased 3%, while revenue per pound decreased 4% due to lower rate per pound. In total, IP package and freight pounds increased 2% and revenue decreased 1% year-over-year, it said.