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FedEx Corporation
Type
Public
Traded as
  • NYSE: FDX
  • DJTA Component
  • S&P 100 Component
  • S&P 500 Component
Industry Courier
Founded 1971; 46 years ago (1971)
(as Federal Express Corporation)
Little Rock, Arkansas
Founder Frederick W. Smith
Headquarters 942 South Shady Grove Road, Memphis, Tennessee, U.S.
Area served
Worldwide
Key people
  • Frederick Smith
    (Chairman & CEO)
  • David J. Bronczek
    (President & COO)
Products Post delivery, express mail, freight forwarding, third-party logistics
Revenue Increase US$50.365 billion (2016)
Operating income
Increase US$3.07 billion (2016)
Net income
Increase US$1.82 billion (2016)
Total assets Increase US$46.064 billion (2016)
Total equity Decrease US$13.784 billion (2016)
Number of employees
400,000 (2016)
Subsidiaries Office, Express, Ground, Freight, Custom Critical, Supply Chain, Trade Networks, Services
Website fedex.com

FedEx Corporation is an American multinational courier delivery services company headquartered in Memphis, Tennessee. The name "FedEx" is a syllabic abbreviation of the name of the company's original air division, Federal Express (now FedEx Express), which was used from 1973 until 2000. The company is known for its overnight shipping service, but also for pioneering a system that could track packages and provide real-time updates on package location (to help in finding lost packages), a feature that has now been implemented by most other carrier services.

FedEx Corporation is an import/export company, incorporated October 2, 1997, in Delaware. FDX Corporation was founded in January 1998 with the acquisition of Caliber System Inc. by Federal Express. With the purchase of Caliber, FedEx started offering other services besides express shipping. Caliber subsidiaries included RPS, a small-package ground service; Roberts Express, an expedited shipping provider; Viking Freight, a regional, less than truckload freight carrier serving the Western United States; Caribbean Transportation Services, a provider of airfreight forwarding between the United States and the Caribbean; and Caliber Logistics and Caliber Technology, providers of logistics and technology solutions. FDX Corporation was founded to oversee all of the operations of those companies and its original air division, Federal Express.

In the 1990s, FedEx Ground planned, but later abandoned, a joint service with British Airways to have BA fly a Concorde supersonic jet airliner to Shannon, Ireland with FedEx packages on board, and then FedEx would have flown the packages subsonically to their delivery points in Europe. Ron Ponder, a vice president at the time, was in charge of this proposed venture.

In January 2000, FDX Corporation changed its name to FedEx Corporation and re-branded all of its subsidiaries. Federal Express became FedEx Express, RPS became FedEx Ground, Roberts Express became FedEx Custom Critical, and Caliber Logistics and Caliber Technology were combined to comprise FedEx Global Logistics. A new subsidiary, called FedEx Corporate Services, was formed to centralize the sales, marketing, and customer service for all of the subsidiaries. In February 2000, FedEx acquired Tower Group International, an international logistics company. FedEx also acquired WorldTariff, a customs duty and tax information company; TowerGroup and WorldTariff were re-branded to form FedEx Trade Networks.

FedEx Corp. acquired privately held Kinko's, Inc. in February 2004 and re-branded it FedEx Kinko's. The acquisition was made to expand FedEx's retail access to the general public. After the acquisition, all FedEx Kinko's locations exclusively offered only FedEx shipping. In June 2008, FedEx announced that they would be dropping the Kinko's name from their ship centers; FedEx Kinko's would now be called FedEx Office. In September 2004, FedEx acquired Parcel Direct, a parcel consolidator, and re-branded it FedEx SmartPost.

In December 2007, the U.S. Internal Revenue Service "tentatively decided" the FedEx Ground Division might be facing a tax liability of $319 million for 2002, due to misclassification of its operatives as independent contractors. Reversing a 1994 decision which allowed FedEx to classify its operatives that own their own vehicles as independent contractors, the IRS audited the years 2003 to 2006, with a view to assessing whether similar misclassification of operatives had taken place. FedEx denied that any irregularities in classification had occurred, but faced legal action from operatives claiming benefits that would have accrued had they been classified as employees.

In June 2009, FedEx began a campaign against United Parcel Service (UPS) and the Teamsters union, accusing its competitor of receiving a bailout in an advertising campaign called "Brown Bailout". FedEx claimed that signing the Federal Aviation Administration re-authorization bill, which would let some of its workers unionize more easily (and, according to the Memphis-based company, "could expose [its] customers at any time to local work stoppages that interrupted the flow of their time-sensitive, high-value shipments”), was equivalent to giving UPS a "bailout". Independent observers heavily criticized FedEx's wording, claiming that it was "an abuse of the term". FedEx Express employees are regulated under the Railway Labor Act.

On January 14, 2013, FedEx named Henry Maier CEO and President of FedEx Ground, to take effect after David Rebholz retired on May 31, 2013. On July 17, 2014, FedEx was indicted for conspiracy to distribute controlled substances in cooperation with the Chhabra-Smoley Organization and Superior Drugs. According to the U.S. Department of Justice, "FedEx is alleged to have knowingly and intentionally conspired to distribute controlled substances and prescription drugs, including Phendimetrazine (Schedule III); Ambien, Phentermine, Diazepam, and Alprazolam (Schedule IV), to customers who had no legitimate medical need for them based on invalid prescriptions issued by doctors who were acting outside the usual course of professional practice." A representative for the company contested these claims, stating that it would violate personal rights of customers to deny service and that "We are a transportation company — we are not law enforcement". On July 17, 2016 the Department of Justice U.S. Attorney's Office confirmed in a statement that it had asked U.S. District Court Judge Charles Breyer to dismiss the indictment but also did not say why.

In April 2015, FedEx acquired their rival firm TNT Express for €4.4 billion ($4.8 billion; £3.2 billion) as it looks to expand their operations in Europe.

FedEx is organized into operating units, each of which has its own version of the wordmark designed in 1994 by Lindon Leader of Landor Associates, of San Francisco. The Fed is always purple and the Ex is in a different color for each division and platinum for the overall corporation use. The original FedEx logo had the Ex in orange; it is now used as the FedEx Express wordmark. The FedEx wordmark is notable for containing a subliminal right-pointing arrow in the negative space between the "E" and the "X", which was achieved by designing a proprietary font, based on Univers and Futura, to emphasize the arrow shape. In August 2016, FedEx announced that all operating units will switch over to the purple and orange color logo over the next 5 years.

FedEx SameDay City allows a between: Standard, providing pickup by noon and delivery by the end of the day, or Priority, providing delivery within 2 hours. FedEx SameDay City is currently expanding in all major cities across the country and is planning on becoming its own operating unit in the next five years.

The Standard Carrier Alpha Code (SCAC) is a unique code used to identify transportation companies. It is typically two to four alphabetic letters long. It was developed by the National Motor Freight Traffic Association in the 1960s to help the transportation industry for computerizing data and records. FedEx's codes include:

According to the Center for Responsive Politics, FedEx Corp is the 21st largest campaign contributor in the United States. The company has donated over $21 million since 1990, 45% of which went to Democrats and 55% to Republicans. Strong ties to the White House and members of Congress allow access to international trade and tax cut rebates as well as the rules of the business practices of the United States Postal Service. In 2001, FedEx sealed a $9 billion deal with the USPS to transport all of the post office's overnight and express deliveries.

In 2005, FedEx was among 53 entities that contributed the maximum of $250,000 to sponsor the second inauguration of President George W. Bush.

During the first three months of 2010, FedEx spent nearly $4.9 million lobbying the federal government (UPS, FedEx's main competitor, spent $1.6 million on lobbying over the same period), a 4% increase from the $4.7 million spent during the last quarter of 2009, but more than twice what it spent on lobbying during the first quarter of 2009.

The firm was named by Fortune magazine as one of the top 100 companies to work for in 2013, citing the company's choice to downsize with voluntary buyouts rather than involuntary layoffs.

Some of FedEx's ad campaigns:

In 1981, their advertising firm Ally & Gargano hired performer John Moschitta, Jr., known for his fast speech delivery, to do an ad for Federal Express titled "Fast Paced World". This single commercial would be cited years later by New York as one of the most memorable ads ever.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2023 2023-03-16 Future report Set alerts
Q2 2023 2022-12-20 3.18 3.18
Q1 2023 2022-09-15 3.44 3.44
Q4 2022 2022-06-23 6.87 6.87
Q3 2022 2022-03-17 4.59 4.59
Q2 2022 2021-12-16 4.83 4.83
Q1 2022 2021-09-21 4.37 4.37
Q4 2021 2021-06-24 5.01 5.01
Q3 2021 2021-03-18 3.47 3.47
Q2 2021 2020-12-17 4.83 4.83

Ratings

2016-07-01 Upgrade Wolfe Research Market Perform to Outperform
2016-06-23 Reiterated Rating Robert W. Baird Buy $176.00
2016-06-23 Boost Price Target Deutsche Bank Buy $190.00 to $198.00
2016-06-23 Reiterated Rating Sanford C. Bernstein Market Perform $157.00 to $154.00
2016-06-23 Boost Price Target Deutsche Bank AG Buy $190.00 to $198.00
2016-06-22 Reiterated Rating Credit Suisse Buy
2016-06-22 Reiterated Rating Oppenheimer Buy
2016-06-22 Reiterated Rating Citigroup Inc. Buy $200.00
2016-06-22 Reiterated Rating Stifel Nicolaus Buy $178.00 to $179.00
2016-06-22 Boost Price Target RBC Capital Sector Perform $158.00 to $174.00
2016-06-22 Reiterated Rating Credit Suisse Group AG Buy
2016-06-22 Reiterated Rating Oppenheimer Holdings Inc. Buy
2016-06-22 Boost Price Target Royal Bank Of Canada Sector Perform $158.00 to $174.00
2016-06-18 Reiterated Rating Cowen and Company Buy $180.00
2016-06-16 Reiterated Rating Bank of America Buy
2016-06-16 Reiterated Rating Credit Suisse Buy
2016-06-16 Reiterated Rating Bank of America Corp. Buy
2016-06-06 Reiterated Rating Morgan Stanley Hold
2016-06-06 Reiterated Rating Oppenheimer Buy
2016-06-02 Boost Price Target Stifel Nicolaus Buy $174.00 to $178.00
2016-05-26 Reiterated Rating Sanford C. Bernstein Hold
2016-05-19 Reiterated Rating Citigroup Inc. Buy $180.00 to $200.00
2016-05-04 Upgrade Barclays Equal Weight to Overweight $175.00 to $205.00
2016-05-04 Upgrade Barclays PLC Equal Weight to Overweight $175.00 to $205.00
2016-04-04 Boost Price Target Robert W. Baird $172.00 to $176.00
2016-03-20 Reiterated Rating Deutsche Bank Buy
2016-03-19 Reiterated Rating Cowen and Company Buy
2016-03-19 Reiterated Rating RBC Capital Hold
2016-03-19 Reiterated Rating Robert W. Baird Buy
2016-03-17 Downgrade Standpoint Research Buy to Hold
2016-03-17 Boost Price Target RBC Capital Sector Perform $153.00 to $158.00
2016-03-17 Lower Price Target Nomura Neutral $190.00 to $180.00
2016-03-17 Boost Price Target Cowen and Company Outperform $175.00 to $180.00
2016-03-17 Boost Price Target Stifel Nicolaus Buy $171.00 to $174.00
2016-03-17 Boost Price Target Citigroup Inc. Buy $175.00 to $180.00
2016-03-17 Boost Price Target Avondale Partners Market Outperform $175.00 to $182.50
2016-03-17 Lower Price Target Nomura Holdings Inc. Neutral $190.00 to $180.00
2016-03-15 Reiterated Rating Wells Fargo Sector Perform
2016-03-15 Reiterated Rating Credit Suisse Outperform $177.00 to $184.00
2016-03-15 Reiterated Rating Wells Fargo & Co. Sector Perform
2016-03-10 Reiterated Rating RBC Capital Sector Perform $157.00 to $153.00
2016-03-10 Reiterated Rating Citigroup Inc. Buy
2016-02-23 Reiterated Rating Morgan Stanley Equal to Equal Weight $132.00
2016-02-22 Lower Price Target Stifel Nicolaus Buy $172.00 to $171.00
2016-02-03 Reiterated Rating Cowen and Company Buy
2016-02-02 Boost Price Target Deutsche Bank Buy $180.00 to $184.00
2016-01-20 Upgrade Standpoint Research Hold to Buy
2016-01-11 Lower Price Target Deutsche Bank Buy $202.00 to $180.00
2015-12-30 Reiterated Rating Goldman Sachs Buy $182.00
2015-12-30 Reiterated Rating Goldman Sachs Group Inc. Buy $182.00
2015-12-24 Set Price Target Goldman Sachs Buy $182.00
2015-12-20 Reiterated Rating Credit Suisse Buy
2015-12-18 Reiterated Rating Morgan Stanley Equal Weight $168.00
2015-12-18 Reiterated Rating Goldman Sachs Buy $182.00
2015-12-17 Lower Price Target Robert W. Baird Outperform $182.00 to $172.00
2015-12-17 Boost Price Target Deutsche Bank Buy $200.00 to $202.00
2015-12-15 Reiterated Rating RBC Capital Sector Perform $157.00
2015-12-14 Reiterated Rating Credit Suisse Outperform $196.00 to $182.00
2015-12-14 Downgrade Raymond James Strong-Buy to Market Perform
2015-12-14 Downgrade Raymond James Financial Inc. Strong-Buy to Market Perform
2015-12-08 Reiterated Rating Sanford C. Bernstein Hold $168.00 to $160.00
2015-11-30 Downgrade Wolfe Research Outperform to Market Perform
2015-11-25 Reiterated Rating Cowen and Company Outperform $190.00
2015-11-06 Lower Price Target Robert W. Baird $187.00 to $182.00
2015-11-02 Lower Price Target Barclays Equal Weight $180.00 to $175.00
2015-10-27 Reiterated Rating Citigroup Inc. Buy
2015-10-21 Reiterated Rating Oppenheimer Buy
2015-10-06 Upgrade Stifel Nicolaus Hold to Buy $172.00
2015-09-22 Reiterated Rating Argus Buy
2015-09-18 Lower Price Target Susquehanna Neutral $200.00 to $170.00
2015-09-17 Reiterated Rating William Blair Buy
2015-09-17 Lower Price Target Robert W. Baird Outperform $195.00 to $187.00
2015-09-17 Lower Price Target Deutsche Bank Buy $206.00 to $205.00
2015-09-17 Reiterated Rating Buckingham Research Neutral $180.00 to $175.00
2015-09-17 Lower Price Target Oppenheimer Outperform $200.00 to $180.00
2015-09-17 Downgrade Goldman Sachs Conviction-Buy to Buy $214.00 to $184.00
2015-09-17 Lower Price Target RBC Capital Sector Perform $195.00 to $157.00
2015-09-17 Reiterated Rating Cowen and Company Outperform $210.00 to $190.00
2015-09-11 Lower Price Target Robert W. Baird $200.00 to $195.00
2015-09-02 Lower Price Target Deutsche Bank Buy $216.00 to $206.00
2015-08-14 Reiterated Rating Citigroup Inc. Buy
2015-06-26 Reiterated Rating Deutsche Bank Buy $216.00
2015-06-24 Boost Price Target Susquehanna Neutral $180.00 to $200.00
2015-06-22 Boost Price Target Argus Buy $195.00 to $205.00
2015-06-19 Lower Price Target Morgan Stanley Equal Weight $192.00 to $188.00
2015-06-19 Reiterated Rating S&P Equity Research Buy $240.00
2015-06-18 Set Price Target Oppenheimer Buy $200.00
2015-06-17 Reiterated Rating Barclays Equal Weight $180.00
2015-06-15 Reiterated Rating Deutsche Bank Buy $209.00 to $216.00
2015-06-15 Reiterated Rating Cowen and Company Outperform $210.00
2015-06-12 Reiterated Rating Citigroup Inc. Focus List
2015-06-11 Set Price Target Citigroup Inc. Buy $205.00
2015-06-11 Boost Price Target Credit Suisse Outperform $198.00 to $206.00
2015-06-11 Boost Price Target RBC Capital Sector Perform $180.00 to $195.00
2015-06-09 Reiterated Rating Oppenheimer Outperform $200.00
2015-05-28 Reiterated Rating Nomura Neutral $190.00
2015-05-23 Reiterated Rating Barclays Equal Weight $180.00
2015-04-08 Reiterated Rating Deutsche Bank Buy $209.00
2015-04-08 Boost Price Target RBC Capital Hold $169.00 to $180.00
2015-04-07 Set Price Target Citigroup Inc. Buy $200.00
2015-04-07 Set Price Target S&P Equity Research Buy $240.00
2015-04-07 Set Price Target Cowen and Company Buy $210.00
2015-03-19 Boost Price Target RBC Capital Sector Perform $165.00 to $169.00
2015-03-18 Set Price Target S&P Equity Research Buy $240.00
2015-03-18 Set Price Target Citigroup Inc. Buy $210.00
2015-03-18 Set Price Target Cowen and Company Buy $210.00
2015-03-16 Boost Price Target Deutsche Bank Buy $209.00 to $210.00
2015-03-16 Reiterated Rating Oppenheimer Outperform $200.00
2015-02-27 Upgrade Credit Suisse Neutral to Outperform $177.00 to $203.00
2015-01-08 Upgrade Argus Buy
2014-12-30 Upgrade Argus Buy
2014-12-22 Boost Price Target Argus Buy $175.00 to $195.00
2014-12-19 Reiterated Rating Oppenheimer Buy $200.00
2014-12-19 Set Price Target Cowen and Company Market Perform $42.00 to $35.00
2014-12-18 Reiterated Rating Morgan Stanley HOLD $178.00 to $170.00
2014-12-18 Boost Price Target RBC Capital Sector Perform $155.00 to $165.00
2014-12-18 Upgrade Goldman Sachs Neutral to Conviction-Buy $173.00 to $211.00
2014-12-16 Boost Price Target Credit Suisse Neutral $177.00 to $179.00
2014-12-15 Boost Price Target Deutsche Bank Buy $179.00 to $209.00
2014-12-08 Boost Price Target Barclays Equal Weight $165.00 to $180.00
2014-12-04 Boost Price Target Oppenheimer Outperform $175.00 to $200.00
2014-12-02 Boost Price Target Citigroup Inc. Buy $190.00 to $210.00
2014-10-06 Boost Price Target Argus Buy $169.00 to $175.00
2014-09-30 Reiterated Rating Citigroup Inc. Buy $180.00 to $190.00
2014-09-29 Upgrade Cowen Market Perform to Outperform $155 to $210
2014-09-29 Upgrade Cowen and Company Market Perform to Outperform $155.00 to $210.00
2014-09-18 Upgrade Wolfe Research Market Perform to Outperform
2014-09-18 Reiterated Rating Macquarie Outperform $160.00 to $184.00
2014-09-18 Reiterated Rating Deutsche Bank Buy $178.00 to $179.00
2014-09-18 Reiterated Rating Morgan Stanley Equal Weight $155.00
2014-09-18 Boost Price Target Robert W. Baird Outperform $170.00 to $183.00
2014-09-18 Boost Price Target Citigroup Inc. Buy $170.00 to $180.00
2014-09-16 Reiterated Rating Credit Suisse Neutral $156.00 to $162.00
2014-09-15 Boost Price Target Oppenheimer Outperform $168.00 to $172.00
2014-07-10 Boost Price Target Argus Buy $162.00 to $169.00
2014-06-30 Boost Price Target Oppenheimer Outperform $161.00 to $168.00
2014-06-20 Boost Price Target Barclays Equal Weight $140.00 to $150.00
2014-06-19 Upgrade RBC Capital Mkts Underperform to Sector Perform $125 to $155
2014-06-19 Boost Price Target Oppenheimer Outperform $157.00 to $161.00
2014-06-19 Reiterated Cowen Market Perform $136 to $155
2014-06-19 Upgrade S&P Equity Research Strong-Buy
2014-06-19 Boost Price Target Deutsche Bank Buy $176.00 to $178.00
2014-06-19 Reiterated Rating Macquarie Outperform $153.00 to $160.00
2014-06-19 Boost Price Target Cowen and Company Market Perform $136.00 to $155.00
2014-06-19 Upgrade RBC Capital Underperform to Sector Perform $125.00 to $155.00
2014-06-03 Boost Price Target Sanford C. Bernstein $136.00 to $139.00
2014-05-08 Downgrade Barclays Overweight to Equal Weight $160.00 to $140.00
2014-03-31 Lower Price Target Argus Buy $173.00 to $162.00
2014-03-21 Lower Price Target Sanford C. Bernstein $141.00 to $136.00
2014-03-20 Downgrade Wolfe Research Outperform to Market Perform
2014-03-20 Lower Price Target Credit Suisse $141.00 to $136.00
2014-03-20 Upgrade Avondale Partners Market Perform to Outperform
2014-03-11 Lower Price Target Sanford C. Bernstein $144.00 to $141.00
2014-01-14 Initiated Coverage Susquehanna Neutral $150.00
2013-12-27 Boost Price Target Robert W. Baird Outperform $160.00 to $167.00
2013-12-26 Boost Price Target Argus Buy $122.00 to $173.00
2013-12-19 Boost Price Target RBC Capital Underperform $105.00 to $125.00
2013-12-19 Boost Price Target Robert W. Baird $140.00 to $160.00
2013-12-17 Boost Price Target Credit Suisse $115.00 to $135.00
2013-12-16 Boost Price Target Sanford C. Bernstein $139.00 to $144.00
2013-12-16 Boost Price Target Deutsche Bank Buy $135.00 to $183.00
2013-12-13 Upgrade Raymond James Outperform to Strong-Buy
2013-12-10 Reiterated Rating Citigroup Inc. Buy $140.00 to $170.00
2013-12-06 Boost Price Target Barclays Overweight $145.00 to $160.00
2013-12-02 Boost Price Target Bank of America $140.00 to $162.00
2013-11-27 Boost Price Target Wunderlich Buy $120.00 to $157.00
2013-11-25 Reiterated Rating Cowen and Company Hold $136.00
2013-11-12 Downgrade Cowen Outperform to Market Perform $117 to $136
2013-11-12 Downgrade Cowen and Company Outperform to Market Perform $117.00 to $136.00
2013-10-28 Reiterated Rating Deutsche Bank Buy $135.00
2013-10-28 Boost Price Target Sanford C. Bernstein Market Perform $122.00 to $139.00
2013-10-22 Upgrade JPMorgan Chase & Co. Neutral to Overweight $134.00 to $153.00
2013-10-16 Boost Price Target Deutsche Bank Buy $131.00 to $135.00
2013-10-16 Downgrade Buckingham Research Buy to Neutral $120.00 to $122.00
2013-09-23 Downgrade Stifel Nicolaus Buy to Hold
2013-09-19 Boost Price Target Argus Buy $115.00 to $122.00
2013-09-19 Boost Price Target Robert W. Baird Outperform $116.00 to $126.00
2013-09-19 Boost Price Target RBC Capital Underperform $95.00 to $105.00
2013-09-19 Boost Price Target Sanford C. Bernstein Market Perform $102.00 to $122.00
2013-09-19 Reiterated Rating Deutsche Bank Buy $123.00 to $131.00
2013-09-19 Downgrade Goldman Sachs Buy to Neutral $112.00 to $116.00
2013-09-18 Boost Price Target Telsey Advisory Group Not Rated $115.00 to $125.00
2013-09-18 Boost Price Target Credit Suisse Neutral $108.00 to $115.00
2013-06-21 Upgrade Standpoint Research Hold to Buy
2016-07-01 Upgrade Wolfe Research Market Perform to Outperform
2016-06-23 Reiterated Rating Robert W. Baird Buy $176.00
2016-06-23 Boost Price Target Deutsche Bank Buy $190.00 to $198.00
2016-06-23 Reiterated Rating Sanford C. Bernstein Market Perform $157.00 to $154.00
2016-06-23 Boost Price Target Deutsche Bank AG Buy $190.00 to $198.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks