FedEX reports $16.3bn Q2 revenues

FedEx reports Q2 revenues

FedEx has reported a revenue of $16.3bn for the second quarter (Q2) of fiscal 2018, with an adjusted operating income of $1.38bn.

In a statement issued yesterday (19 December), FedEx said that its pperating income increased due to “higher base rates and increased volume at each transportation segment” -but added that this was “partially offset by reduced revenue resulting from the TNT Express cyberattack and higher TNT Express integration expenses”.

FedEx said that it was maintaining its capital spending forecast for fiscal 2018 at $5.9bn.

The FedEx Express segment notched up a revenue of $9.35bn, compared to $8.64bn last year.

The cyber attack on TNT clearly had a financial impact. According to the FedEx statement: “The company is accelerating the integration process and increasing investments to move TNT Express information technology and operational infrastructure to FedEx infrastructure due to the recent cyberattack at TNT Express. As a result, the total TNT Express integration program expense through fiscal 2020 is now estimated to be approximately $1.4 billion, up from the previous $800 million estimate, of which $450 million is expected to be incurred in fiscal 2018.”

 

 

Relevant Directory Listings

Listing image

Doddle

Doddle powers PUDO networks and intelligent returns management for some of the world’s most innovative carriers and posts. Our experience building our own successful PUDO network in the UK means we have unprecedented insight into the needs of consumers, carriers and retailers meaning we can […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What is your top business priority?

Thank you for voting
You have already voted on this poll!
Please select an option!








MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This