FedEx Corporation is a global leader in transportation, e-commerce, and business services, delivering integrated solutions that connect people and possibilities across more than 220 countries and territories. Headquartered in Memphis, Tennessee, the company was incorporated in Delaware on October 2, 1997, to serve as the parent holding company, providing strategic direction to its portfolio of operating companies.
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Company Profile
With a workforce of over 400,000 employees, FedEx operates a unified, fully integrated air-ground express network under the respected FedEx brand. The company is recognized for its reliability, speed, and outstanding service, making it one of the most widely recognized brands globally. FedEx’s commitment to sustainability, diversity, equity, inclusion, and opportunity (DEI&O), and community engagement further strengthens its reputation as a responsible corporate citizen.
FedEx’s mission is to create outstanding value for customers and shareholders by offering a broad portfolio of services that leverage its extensive transportation infrastructure, advanced information technologies, and a customer-centric approach. The company’s strategy focuses on managing its business as a portfolio to maximize long-term return on invested capital, emphasizing operational flexibility, efficiency, and innovation to adapt to changing market demands.
In fiscal year 2024, FedEx reported consolidated revenue of $87.7 billion, reflecting its significant scale and influence in the global logistics market. The company’s operations are supported by advanced technologies, including data-driven platforms like FedEx Dataworks, which enhance operational efficiency and customer experience. FedEx’s ongoing transformation initiatives, such as the DRIVE program and Network 2.0, aim to improve profitability and align its network with customer demand.
Business Segments
FedEx operates through several reportable segments, each focusing on specific aspects of transportation and logistics services. Below is a detailed breakdown of the company’s business segments, including their operations and revenue contributions for fiscal year 2024.
1. FedEx Express Segment
- Description: FedEx Express is the world’s largest express transportation company, providing time-definite delivery services for packages and freight to more than 220 countries and territories. It operates an extensive global air-and-ground network, supported by advanced sorting and handling facilities that utilize automated technologies for efficiency. Key services include FedEx International Priority, FedEx International Economy, and FedEx International First, catering to diverse customer needs for speed and cost-effectiveness.
- Key Operations:
- Operates major air hubs, including the super hub at Memphis International Airport, with advanced sorting technologies like laser and camera-based barcode scanning.
- Offers international express and deferred package delivery with a money-back guarantee.
- Implements Network 2.0, optimizing air and ground operations in over 50 U.S. locations and expanding to Canada.
- Tests autonomous technologies, such as Aurora’s autonomous vehicle platforms and Elroy Air’s autonomous air cargo system, to enhance middle-mile logistics.
- Revenue Contribution (2024): $40.2 billion
- Revenue Breakup %: Approximately 45.8% of total consolidated revenue ($87.7 billion).
2. FedEx Ground Segment
- Description: FedEx Ground provides small-package ground delivery services across the U.S. and Canada, focusing on business-to-business and residential deliveries. It is known for its cost-effective, reliable ground transportation, with advanced automation at sorting facilities to handle millions of packages daily.
- Key Operations:
- Utilizes advanced automated unloading and sorting technology, including yard management systems with GPS tags for trailer tracking.
- Offers signature-free delivery in 60 countries, enhancing customer convenience.
- Operates approximately 64,000 drop-off locations, including FedEx Drop Boxes and retail partnerships with Walgreens, Dollar General, and Albertsons.
- Implements DRIVE initiatives to improve linehaul efficiencies and dock productivity.
- Revenue Contribution (2024): $34.7 billion
- Revenue Breakup %: Approximately 39.6% of total consolidated revenue.
3. FedEx Freight Segment
- Description: FedEx Freight offers less-than-truckload (LTL) freight services, providing priority and economy options for customers needing to transport larger shipments. It serves nearly 100% of the U.S. population with to-the-door and through-the-door delivery services.
- Key Operations:
- Uses radio frequency identification (RFID) technology and customized software to improve shipment visibility and custodial control.
- Offers FedEx Freight Direct for big and bulky e-commerce products, with four delivery service levels.
- Focuses on productivity improvements and lower self-insurance accruals to enhance profitability.
- Revenue Contribution (2024): $8.8 billion
- Revenue Breakup %: Approximately 10.0% of total consolidated revenue.
4. FedEx Services Segment
- Description: FedEx Services provides integrated support functions, including sales, marketing, information technology, and customer service, to the company’s operating segments. It plays a critical role in delivering a unified customer experience and driving technological innovation.
- Key Operations:
- Supports the FedEx brand through advertising, digital platforms, and customer engagement.
- Develops and manages the FedEx Ship Manager suite, offering solutions for parcel and LTL shipping.
- Drives the fdx platform, a data-driven commerce solution connecting the entire customer journey.
- Revenue Contribution (2024): Not separately reported as a revenue-generating segment, as its costs are allocated to other segments.
- Revenue Breakup %: 0% (costs are integrated into other segments’ financials).
5. FedEx Logistics
- Description: FedEx Logistics provides integrated supply chain solutions, including customs brokerage, trade management, and warehousing through FedEx Supply Chain. It enhances FedEx’s ability to offer end-to-end logistics services.
- Key Operations:
- Operates from corporate headquarters in Memphis, Tennessee.
- Offers solutions for complex supply chain challenges, leveraging FedEx’s global network.
- Improved operating results in 2024 due to lower purchased transportation costs.
- Revenue Contribution (2024): Included in “Other” segment, contributing to $4.0 billion.
- Revenue Breakup %: Approximately 4.6% of total consolidated revenue (as part of “Other”).
6. Corporate, Other, and Eliminations
- Description: This segment includes corporate overhead, eliminations of intersegment transactions, and other non-allocated expenses. It also encompasses FedEx Office, which provides retail printing, packing, and shipping services.
- Key Operations:
- FedEx Office operates approximately 2,000 customer-facing stores, offering pack-and-ship solutions and custom box-building capabilities.
- Includes FedEx Dataworks, which centralizes data to enhance operational efficiency through machine learning and a single enterprise platform.
- Supports strategic initiatives like the DRIVE transformation program.
- Revenue Contribution (2024): $4.0 billion (including FedEx Logistics and FedEx Office).
- Revenue Breakup %: Approximately 4.6% of total consolidated revenue.
Summary of Revenue Breakup (2024):
- FedEx Express: 45.8%
- FedEx Ground: 39.6%
- FedEx Freight: 10.0%
- FedEx Logistics, FedEx Office, and Other: 4.6%
Products and Services
FedEx offers a wide range of transportation, e-commerce, and business services designed to meet diverse customer needs. Below is a comprehensive list of products and services, along with their details and revenue contributions where applicable.
1. FedEx Express Services
- Description: Time-definite delivery services for packages and freight, both domestically and internationally.
- Key Offerings:
- FedEx International Priority: Fast, reliable delivery to over 220 countries, typically in 1-3 business days.
- FedEx International Economy: Cost-effective delivery in 2-5 business days.
- FedEx International First: Early morning delivery for time-sensitive shipments.
- FedEx Airfreight Services: Specialized freight transportation for large shipments.
- Revenue Contribution (2024): $40.2 billion (includes all Express services).
- Revenue Breakup %: 45.8% of total revenue.
2. FedEx Ground Services
- Description: Reliable, cost-effective small-package ground delivery for business and residential customers.
- Key Offerings:
- Commercial Ground Delivery: Business-to-business delivery with high reliability.
- Home Delivery: Residential delivery with options for signature-free drop-offs.
- Economy Services: Cost-effective options for less urgent shipments.
- FedEx Drop Boxes: Convenient drop-off locations at 64,000 sites, including retail partnerships.
- Revenue Contribution (2024): $34.7 billion.
- Revenue Breakup %: 39.6% of total revenue.
3. FedEx Freight Services
- Description: LTL freight transportation with priority and economy options for large shipments.
- Key Offerings:
- Priority Services: Fast delivery when speed is critical.
- Economy Services: Cost-effective for less time-sensitive shipments.
- FedEx Freight Direct: E-commerce-focused delivery for big and bulky items, with four service levels (basic, basic by appointment, standard, and premium through-the-door).
- Revenue Contribution (2024): $8.8 billion.
- Revenue Breakup %: 10.0% of total revenue.
4. FedEx Delivery Manager
- Description: A digital solution allowing U.S. residential customers to customize delivery schedules, locations, and times.
- Key Features:
- Options to schedule delivery dates and redirect packages.
- Enhances customer convenience and control.
- Revenue Contribution: Included in FedEx Ground and Express revenues, not separately reported.
5. FedEx Returns Technology
- Description: A comprehensive solution for managing returns, streamlining the process for merchants and customers.
- Key Features:
- Simplifies return logistics with integrated solutions.
- Supports e-commerce businesses with efficient returns processing.
- Revenue Contribution: Included in segment revenues, not separately reported.
6. FedEx Ship Manager Suite
- Description: A suite of tools for managing parcel and LTL shipping processes.
- Key Features:
- Provides visibility to carriers and pricing.
- Enables booking and payment for shipping services.
- Revenue Contribution: Included in FedEx Services’ support functions, not separately reported.
7. fdx Platform
- Description: A fully integrated, data-driven commerce platform connecting the entire customer journey, from discovery to delivery and returns.
- Key Features:
- Leverages FedEx Dataworks for data-driven insights.
- Enhances customer experience through personalized solutions.
- Revenue Contribution: Emerging platform, not separately reported in 2024.
8. FedEx Office Services
- Description: Retail printing, packing, and shipping services offered through approximately 2,000 locations.
- Key Offerings:
- Pack-and-Ship Solutions: Professional packing and shipping services.
- FedEx Pack Plus: Custom box-building and specialty packaging.
- Printing and Graphics: Signs, banners, and document printing.
- Revenue Contribution (2024): Included in “Other” segment ($4.0 billion).
- Revenue Breakup %: Approximately 2-3% of total revenue (estimated within “Other”).
9. FedEx Logistics Services
- Description: Integrated supply chain solutions, including customs brokerage and warehousing.
- Key Offerings:
- FedEx Supply Chain: Warehousing and distribution services.
- Customs Brokerage: Facilitates international trade compliance.
- Revenue Contribution (2024): Included in “Other” segment ($4.0 billion).
- Revenue Breakup %: Approximately 1-2% of total revenue (estimated within “Other”).
Summary of Revenue Breakup by Service Type (2024):
- FedEx Express Services: 45.8%
- FedEx Ground Services: 39.6%
- FedEx Freight Services: 10.0%
- FedEx Office, Logistics, and Other Services: 4.6%
Company History
FedEx Corporation has a rich history of innovation and growth, transforming from a startup to a global logistics powerhouse over five decades. Below is a comprehensive overview of its journey:
- 1971: Federal Express Corporation was founded by Frederick W. Smith, with a vision to create an overnight delivery service using an integrated air-ground network. The company began operations in 1973, initially serving 25 U.S. cities with a fleet of 14 small aircraft.
- 1970s-1980s: Federal Express pioneered the overnight delivery industry, introducing the hub-and-spoke model centered at Memphis International Airport. The company expanded rapidly, adding international routes and acquiring additional aircraft to support growth.
- 1997: FedEx Corporation was incorporated in Delaware on October 2, 1997, as the parent holding company to oversee its growing portfolio of businesses, including Federal Express (now FedEx Express).
- 2000s: FedEx expanded through strategic acquisitions, including the purchase of RPS (now FedEx Ground) in 1998 and Kinko’s (rebranded as FedEx Office) in 2004. These acquisitions broadened its service offerings to include ground delivery and retail printing services.
- 2010s: The acquisition of TNT Express in 2016 strengthened FedEx’s international presence, particularly in Europe. The company also invested heavily in technology, launching digital platforms like FedEx Delivery Manager and expanding e-commerce solutions.
- 2020s: FedEx embarked on a transformative journey with the “One FedEx” consolidation, merging FedEx Ground and FedEx Services into Federal Express effective June 1, 2024, to create a unified air-ground express network. The DRIVE program, launched to improve long-term profitability, included initiatives like Network 2.0 and the Tricolor redesign of the international air network. In 2024, FedEx introduced the fdx platform, enhancing its data-driven commerce capabilities.
- Milestones:
- Celebrated 50 years of operations in 2023, marking its legacy of connecting people and possibilities.
- Implemented Network 2.0 in over 50 U.S. locations and began phased implementation in Canada.
- Opened the first Advanced Capability Community in India to support technological innovation.
- Expanded sustainability efforts, including over 1,000 charging stations for electric vehicle deployment.
FedEx’s history reflects its commitment to innovation, customer service, and global expansion, positioning it as a leader in the logistics industry.
Brands
FedEx operates under a family of brands that collectively deliver its transportation, e-commerce, and business services. Below is a detailed list of its brands and their contributions.
1. FedEx Express
- Description: The flagship brand for express transportation, offering time-definite delivery services globally.
- Key Features:
- Operates the world’s largest express transportation network.
- Provides international priority, economy, and first services.
- Known for reliability and a money-back guarantee.
- Revenue Contribution (2024): $40.2 billion.
- Revenue Breakup %: 45.8% of total revenue.
2. FedEx Ground
- Description: The brand for small-package ground delivery, serving business and residential customers.
- Key Features:
- Extensive network with 64,000 drop-off locations.
- Advanced automation for efficient package handling.
- Signature-free delivery in 60 countries.
- Revenue Contribution (2024): $34.7 billion.
- Revenue Breakup %: 39.6% of total revenue.
3. FedEx Freight
- Description: The brand for LTL freight transportation, focusing on priority and economy services.
- Key Features:
- Serves nearly 100% of the U.S. population.
- Offers specialized e-commerce delivery through FedEx Freight Direct.
- Utilizes RFID technology for shipment visibility.
- Revenue Contribution (2024): $8.8 billion.
- Revenue Breakup %: 10.0% of total revenue.
4. FedEx Office
- Description: A retail brand offering printing, packing, and shipping services.
- Key Features:
- Operates approximately 2,000 stores, averaging 3,200 square feet.
- Provides custom box-building through FedEx Pack Plus.
- Offers local pickup-and-delivery services.
- Revenue Contribution (2024): Included in “Other” segment ($4.0 billion).
- Revenue Breakup %: Approximately 2-3% of total revenue (estimated).
5. FedEx Logistics
- Description: A brand focused on integrated supply chain solutions.
- Key Features:
- Includes FedEx Supply Chain for warehousing and distribution.
- Provides customs brokerage and trade management services.
- Revenue Contribution (2024): Included in “Other” segment ($4.0 billion).
- Revenue Breakup %: Approximately 1-2% of total revenue (estimated).
6. FedEx Dataworks
- Description: A technology-driven brand centralizing data to enhance operational efficiency.
- Key Features:
- Powers the fdx commerce platform.
- Uses machine learning for data-driven decision-making.
- Revenue Contribution: Not separately reported, supports other segments.
Summary of Revenue Breakup by Brand (2024):
- FedEx Express: 45.8%
- FedEx Ground: 39.6%
- FedEx Freight: 10.0%
- FedEx Office, FedEx Logistics, and Other: 4.6%
Geographical Presence
FedEx operates in over 220 countries and territories, delivering to more than 99% of the world’s gross domestic product. Below is a detailed overview of its geographical presence and revenue distribution.
1. United States
- Description: The primary market, housing FedEx’s headquarters in Memphis, Tennessee, and the super hub at Memphis International Airport.
- Key Operations:
- Operates major air and ground hubs, including sorting facilities with advanced automation.
- Serves nearly 100% of the U.S. population through FedEx Freight and Ground services.
- Includes approximately 64,000 drop-off locations and 2,000 FedEx Office stores.
- Revenue Contribution (2024): $65.7 billion (estimated based on segment data).
- Revenue Breakup %: Approximately 74.9% of total revenue.
2. International (Excluding U.S.)
- Description: Covers over 220 countries and territories, with significant operations in Europe, Asia, and Latin America.
- Key Operations:
- FedEx Express provides international priority and economy services.
- Network 2.0 and Tricolor initiatives optimize international air and ground networks.
- Advanced Capability Community in India supports technological innovation.
- Revenue Contribution (2024): $22.0 billion (estimated based on international service revenues).
- Revenue Breakup %: Approximately 25.1% of total revenue.
Geographic Revenue Breakup (2024):
- United States: 74.9%
- International: 25.1%
Financial Statements
Below are the consolidated financial statements for FedEx Corporation for the fiscal year ended May 31, 2024, presented in table format.
Consolidated Balance Sheets (in millions)
| Category | May 31, 2024 | May 31, 2023 |
|---|---|---|
| Current Assets | ||
| Cash and cash equivalents | 6,501 | 6,856 |
| Receivables, less allowances | 10,087 | 10,188 |
| Spare parts, supplies, and fuel | 614 | 604 |
| Prepaid expenses and other | 1,095 | 1,097 |
| Total Current Assets | 18,297 | 18,745 |
| Property and Equipment, Net | 41,401 | 40,563 |
| Other Long-Term Assets | ||
| Operating lease right-of-use assets | 17,115 | 17,347 |
| Goodwill | 6,423 | 6,435 |
| Other assets | 3,771 | 4,053 |
| Total Other Long-Term Assets | 27,309 | 27,835 |
| Total Assets | 87,007 | 87,143 |
| Current Liabilities | ||
| Current portion of long-term debt | 68 | 126 |
| Accrued salaries and employee benefits | 2,496 | 2,389 |
| Accounts payable | 3,848 | 3,906 |
| Accrued expenses | 4,559 | 4,784 |
| Total Current Liabilities | 10,971 | 11,205 |
| Long-Term Debt, Less Current Portion | 20,135 | 20,453 |
| Other Long-Term Liabilities | ||
| Deferred income taxes | 4,156 | 4,391 |
| Pension, postretirement, and other | 2,143 | 2,934 |
| Operating lease liabilities | 15,917 | 16,126 |
| Total Other Long-Term Liabilities | 22,216 | 23,451 |
| Common Stockholders’ Investment | ||
| Common stock | 32 | 32 |
| Additional paid-in capital | 3,988 | 3,820 |
| Retained earnings | 38,649 | 36,563 |
| Accumulated other comprehensive loss | (1,359) | (1,327) |
| Treasury stock | (13,728) | (13,103) |
| Total Common Stockholders’ Investment | 27,582 | 25,985 |
| Total Liabilities and Stockholders’ Investment | 87,007 | 87,143 |
Consolidated Statements of Income (in millions, except per share amounts)
| Category | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | 87,693 | 90,155 | 93,512 |
| Operating Expenses | |||
| Salaries and employee benefits | 29,269 | 29,854 | 30,669 |
| Purchased transportation | 20,399 | 21,364 | 22,863 |
| Rentals and landing fees | 4,693 | 4,789 | 4,692 |
| Depreciation and amortization | 4,260 | 4,176 | 3,970 |
| Fuel | 5,084 | 6,388 | 5,862 |
| Maintenance and repairs | 2,879 | 2,879 | 2,993 |
| Business optimization and realignment | 315 | 258 | 407 |
| Other | 15,110 | 15,705 | 15,897 |
| Total Operating Expenses | 82,009 | 85,413 | 87,353 |
| Operating Income | 5,684 | 4,742 | 6,159 |
| Other Income (Expense) | |||
| Interest expense | (698) | (694) | (689) |
| Interest income | 496 | 294 | 56 |
| Other, net | 354 | 1,021 | (630) |
| Total Other Income (Expense) | 152 | 621 | (1,263) |
| Income Before Income Taxes | 5,836 | 5,363 | 4,896 |
| Provision for Income Taxes | 1,505 | 1,391 | 1,070 |
| Net Income | 4,331 | 3,972 | 3,826 |
| Basic Earnings Per Common Share | 17.41 | 15.60 | 14.54 |
| Diluted Earnings Per Common Share | 17.21 | 15.48 | 14.33 |
Consolidated Statements of Cash Flows (in millions)
| Category | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating Activities | |||
| Net income | 4,331 | 3,972 | 3,826 |
| Adjustments to reconcile net income: | |||
| Depreciation and amortization | 4,260 | 4,176 | 3,970 |
| Other, net | 3,305 | 2,693 | 2,072 |
| Changes in operating assets and liabilities | 548 | (1,948) | (83) |
| Cash Provided by Operating Activities | 8,444 | 8,893 | 9,785 |
| Investing Activities | |||
| Capital expenditures | (5,178) | (6,148) | (6,763) |
| Other, net | 305 | 35 | (177) |
| Cash Used in Investing Activities | (4,873) | (6,113) | (6,940) |
| Financing Activities | |||
| Principal payments on debt | (127) | (146) | (161) |
| Proceeds from stock issuances | 304 | 189 | 260 |
| Dividends paid | (1,245) | (1,167) | (789) |
| Purchase of treasury stock | (2,500) | (1,500) | (2,250) |
| Other, net | (305) | (164) | 37 |
| Cash Used in Financing Activities | (3,873) | (2,788) | (2,903) |
| Effect of exchange rate changes | (53) | (33) | (132) |
| Net Decrease in Cash and Cash Equivalents | (355) | (41) | (190) |
| Cash and cash equivalents at beginning | 6,856 | 6,897 | 7,087 |
| Cash and Cash Equivalents at End | 6,501 | 6,856 | 6,897 |
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
FedEx Corporation operates through a portfolio of subsidiaries, with most being wholly-owned. Below is a comprehensive list of key subsidiaries, their details, and their contributions to revenue.
1. Federal Express Corporation (FedEx Express)
- Ownership: Wholly-owned.
- Description: Provides express transportation services, operating the world’s largest air-ground express network.
- Key Operations: Global delivery to over 220 countries, advanced sorting facilities, and Network 2.0 implementation.
- Revenue Contribution (2024): $40.2 billion.
- Revenue Breakup %: 45.8% of total revenue.
2. FedEx Ground Package System, Inc.
- Ownership: Wholly-owned (merged into Federal Express effective June 1, 2024).
- Description: Offers small-package ground delivery services in the U.S. and Canada.
- Key Operations: Operates 64,000 drop-off locations and advanced automation systems.
- Revenue Contribution (2024): $34.7 billion.
- Revenue Breakup %: 39.6% of total revenue.
3. FedEx Freight, Inc.
- Ownership: Wholly-owned.
- Description: Provides LTL freight transportation services, operating as a separate subsidiary.
- Key Operations: Serves nearly 100% of the U.S. population with priority and economy services.
- Revenue Contribution (2024): $8.8 billion.
- Revenue Breakup %: 10.0% of total revenue.
4. FedEx Office and Print Services, Inc.
- Ownership: Wholly-owned (merged into Federal Express effective June 1, 2024).
- Description: Operates retail stores offering printing, packing, and shipping services.
- Key Operations: Manages approximately 2,000 stores with pack-and-ship solutions.
- Revenue Contribution (2024): Included in “Other” segment ($4.0 billion).
- Revenue Breakup %: Approximately 2-3% of total revenue (estimated).
5. FedEx Supply Chain Distribution, Inc.
- Ownership: Wholly-owned.
- Description: Provides integrated supply chain solutions, including warehousing and distribution.
- Key Operations: Supports complex logistics needs for e-commerce and trade.
- Revenue Contribution (2024): Included in “Other” segment ($4.0 billion).
- Revenue Breakup %: Approximately 1-2% of total revenue (estimated).
6. ShopRunner, Inc.
- Ownership: Wholly-owned (acquired in 2021).
- Description: An e-commerce platform enhancing customer shopping experiences.
- Key Operations: Collects and stores merchant and buyer data, supporting e-commerce integration.
- Revenue Contribution (2024): Included in “Other” segment ($4.0 billion).
- Revenue Breakup %: Less than 1% of total revenue (estimated).
Note: FedEx has no significant associate companies or joint ventures reported. All major operating entities are wholly-owned subsidiaries. A full list of subsidiaries is available in Exhibit 21 of the company’s filings, but specific revenue contributions for minor subsidiaries are not separately disclosed.
Summary of Revenue Breakup by Subsidiary (2024):
- Federal Express (FedEx Express): 45.8%
- FedEx Ground: 39.6%
- FedEx Freight: 10.0%
- FedEx Office, FedEx Supply Chain, ShopRunner, and Others: 4.6%
Physical Properties
FedEx operates an extensive network of physical properties, including air and ground hubs, sorting facilities, retail locations, and administrative offices. Below is a detailed list of key properties.
1. Air and Ground Hubs
- Description: Major sorting and handling facilities for air and ground operations.
- Key Facilities:
- Memphis International Airport Super Hub (Memphis, TN):
- Leased from the Memphis-Shelby County Airport Authority.
- Includes aircraft hangars, ramp areas, flight training facilities, and the FedEx Cold Chain Center.
- Sorting capacity: Not specified, but the largest hub in the network.
- Other Major Hubs:
- Indianapolis, IN: 211 acres, 2.5 million square feet, sorting capacity of 99,000 packages per hour.
- Newark, NJ: 70 acres, 0.6 million square feet, sorting capacity of 37,000 packages per hour.
- Oakland, CA: 74 acres, 0.3 million square feet, sorting capacity of 45,000 packages per hour.
- Memphis International Airport Super Hub (Memphis, TN):
- Total: Over 5,000 air and ground hubs and local stations globally.
2. FedEx Office Stores
- Description: Approximately 2,000 retail locations offering printing, packing, and shipping services.
- Details:
- Average store size: 3,200 square feet.
- Locations: Strip malls, office buildings, Walmart stores, hotels, convention centers, and universities.
- Leased properties with terms of 5-10 years and renewal options.
3. FedEx Logistics Headquarters
- Location: Memphis, Tennessee.
- Description: Corporate headquarters for logistics operations, supporting supply chain solutions.
4. Drop-Off Locations
- Description: Approximately 64,000 drop-off sites, including FedEx Drop Boxes and retail partnerships (e.g., Walgreens, Dollar General, Albertsons).
- Details: Located in office buildings, shopping centers, and industrial parks for customer convenience.
5. Aircraft and Vehicles
- Aircraft Fleet (as of June 7, 2024):
- Boeing B777F: 54 owned, 233,300 pounds payload.
- Boeing MD11: 36 owned, 233,300 pounds payload.
- Boeing 767F: 121 owned, 127,100 pounds payload.
- Boeing 757-200: 117 owned, 63,000 pounds payload.
- Airbus A300-600: 65 owned, 108,100 pounds payload.
- ATR-72 and Others: 57 total (31 owned, 10 leased, 14 mixed).
- Total: 450+ aircraft.
- Vehicles: Extensive fleet supporting ground and freight operations, including electric vehicles with over 1,000 charging stations.
6. Other Facilities
- Description: Includes administrative offices, data centers, and warehousing facilities.
- Details: Supports FedEx Dataworks, FedEx Supply Chain, and corporate functions.
Founder Details
- Name: Frederick W. Smith
- Role: Founder, Executive Chairman, and Chairman of the Board.
- Age: 79 (as of July 15, 2024).
- Background:
- Founded Federal Express in 1971 with a vision for overnight delivery using a hub-and-spoke model.
- Served as CEO from 1998 to May 2022 and President from 1998 to 2017.
- Pioneered the express delivery industry, transforming global logistics.
- Established the FedEx Founder’s Fund, a philanthropic endowment supporting community initiatives.
- Contributions:
- Led FedEx to become a global leader, expanding its network to over 220 countries.
- Championed technological innovation and sustainability initiatives.
- Recognized as a business leader and changemaker, with a legacy of connecting communities.
Board of Directors
Below is a list of FedEx Corporation’s Board of Directors as of July 15, 2024, with their details.
- Frederick W. Smith
- Role: Executive Chairman and Chairman of the Board.
- Age: 79.
- Details: Founder of FedEx, served as CEO from 1998 to 2022. Leads strategic direction.
- Rajesh Subramaniam
- Role: President and CEO, Director.
- Age: Not specified.
- Details: Leads FedEx’s global operations, driving the “One FedEx” consolidation and DRIVE initiatives.
- Silvia Davila
- Role: Director.
- Details: Regional President, Latin America, Danone S.A. Brings expertise in multinational operations.
- Marvin R. Ellison
- Role: Director.
- Details: Chairman, President, and CEO of Lowe’s Companies, Inc. Offers retail and leadership expertise.
- Stephen E. Gorman
- Role: Director.
- Details: Former CEO of Air Methods Corporation. Provides insights into air operations.
- Nancy A. Norton
- Role: Director.
- Details: Brings strategic and operational expertise to the board.
- Frederick Perpall
- Role: Director.
- Details: Contributes to governance and strategic planning.
- Joshua Cooper Ramo
- Role: Director.
- Details: Offers global business and policy expertise.
- Susan C. Schwab
- Role: Director.
- Details: Provides trade and regulatory insights.
- David P. Steiner
- Role: Director.
- Details: Contributes to sustainability and corporate governance.
- Paul S. Walsh
- Role: Director.
- Details: Brings extensive corporate leadership experience.
Investment Details
FedEx holds equity investments valued at $360 million as of May 31, 2024, compared to $302 million in 2023. These are passive investments, primarily in equity securities, accounted for at fair value or under the measurement alternative for securities without readily determinable fair values. Specific details of individual investments are not disclosed, but they are included in “Other assets” on the balance sheet.
Future Investment Plans
FedEx has outlined several future investment plans to support growth and sustainability:
- Aircraft Purchases: As of June 7, 2024, FedEx had $611 million in deposits and progress payments for aircraft and related transactions, aimed at fleet modernization and capacity alignment.
- Stock Repurchase Program: Plans to repurchase $2.5 billion of common stock in 2025, including a $1 billion ASR agreement.
- Electric Vehicle Deployment: Continued investment in over 1,000 charging stations to support fleet electrification.
- Network 2.0 Expansion: Further implementation in the U.S. and Canada to optimize air and ground operations.
- Technology and Dataworks: Investments in FedEx Dataworks and the fdx platform to enhance data-driven commerce solutions.
- Business Optimization: Expected pre-tax costs of $1.5 billion through 2025 for DRIVE initiatives and workforce reductions, including a plan in Europe affecting employees over an 18-month consultation period.
This comprehensive overview of FedEx Corporation highlights its leadership in global logistics, driven by innovation, a robust brand portfolio, and a commitment to customer service and sustainability.
