A decline in B2B demand resulting from the COVID-19 pandemic, the loss of a major customer and lower fuel surcharges resulted in a slight drop in revenue for FedEx in 2019.

Driven by increased B2C e-commerce delivery volumes, FedEx Ground saw revenues increase 11% in the year. However, the negative impact of weaker global demand and business closures resulting from COVID-19 lockdown and containment measures resulted in revenue declines for FedEx Express and FedEx Freight. The company also saw profitability fall in the year, with higher transportation costs for the Ground division, as well as subsidiary integration for the Express division, driving down EBIT. For more details download the latest IPC Carrier Intelligence Report for FedEx.

 

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