FedEx Freight’s first-ever earnings release includes mixed results
FedEx Freight driver Jorge Rodriguez is seen during the FedEx Thanksgiving Parade Robot Delivery on Nov. 26, 2013, in Newark, N.J. (Brian Ach/AP Images for FedEx file)
FedEx Freight reported mixed results in its first quarter as a standalone company Thursday, Oct. 29 — including a 9.2% increase in revenue versus last year and a 6.1% decrease in operating income.
The $3.3 billion in revenue was because of fuel surcharge revenue increase, high weight per shipment, one extra operating day in the quarter and an increase in base revenue per hundredweight, officials said.
There were 88,900 average daily shipments, a 1.4% decrease versus last year. Revenue per shipment of $413.00, a 10.1% increase.
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Steve Bohnel
Steve Bohnel is a Temple University graduate, originally from Bucks County, Pennsylvania. He’s worked at news organizations in Iowa, Maryland and Pittsburgh, covering local and state politics. He covers health care, transportation and logistics, manufacturing, and technology. He is an avid traveler, an Everton F.C. and Philadelphia sports fan, and likes collecting records and biking around town.
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