Breaking: FedEx 4th Quarter Earnings Report

Well the 4^th Quarter Earnings numbers are in for FedEx Corp and while reflect a loss of revenue, the actual loss is significantly lower than their 4^th Quarter losses from 2019.  The Numbers are as follows:

• 4^th Quarter, 2020 loss of $334 Million compared to a 4^TH  Quarter, 2019 loss of $1.97 Billion, a significant improvement
• Revenues declined in the 4^th quarter of 2020 2.24% or, 17.4 Billion compared to last year’s 4^th quarter loss of $17.8 Billion
• Fiscal Year Net Income was $1.78 Billion compared to $540 Million in the 4^th quarter of 2019
• Package volumes were down for commercial package deliveries but way up for residential deliveries, a direct result of the effects of the Covid-19 Pandemic
• Average daily package volumes were up 26.1% from 8.8 Million to 11.1 million packages per day with these volumes mirroring a typical holiday peak season package volumes

The Covid-19 Global Pandemic, strictly from a package shipping perspective, actually turned out to be a positive for FedEx as their volumes were decreasing in the previous quarters.  We expect the outlook to remain positive for FedEx as they enter their new fiscal year.

Read the full report at www.FedEx.com