FedEx Q4 revenue at $21.9bn, ends fiscal 2023 with $90.2bn revenue
While adjusted net income dropped to $3.84 billion from $5.50 billion in 2022, capital spending for the year was $6.2 billion.
FedEx is becoming a more flexible, efficient and data-driven organisation as we significantly lower our cost structure, drive enhanced profitability, and deliver outstanding service for our customers: Raj Subramaniam, FedEx
For fiscal 2024, FedEx is forecasting flat to low-single-digit-percent revenue growth year over year, permanent cost reductions from DRIVE transformation programme of $1.8 billion and capital spending of $5.7 billion
We’re approaching fiscal 2024 with the same level of intensity, maintaining a continued focus on improving profitability to position the company for success in what remains a challenging demand environment: Michael C. Lenz, FedEx
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