FedEx’s Revenue by Segment (2016-2022)

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This statistic highlights FedEx’s Revenue by Segment, split across Express, Freight, Ground, Other & eliminations, and Services segments, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights FedEx’s Revenue by Segment, split across Express, Freight, Ground, Other & eliminations, and Services segments, reported on a quarterly basis from Q1 2016 onwards.

FedEx’s Revenue by Segment

FedEx’s Revenue by Segment  Q1 2021  Q4 2021  Q1 2022 Revenue mix by segment in Q1 2022
Express $9.65 $11.28 $10.97 49.84%
Freight $1.83 $2.24 $2.25 10.22%
Ground $7.04 $8.13 $7.68 34.90%
Services $0.01 $0.01 $0.04 0.18%
Other & Eliminations $0.80 $0.92 $1.07 4.86%
TOTAL $19.33 $22.58 $22.01 100.00%

(All figures in billions, except percentages)

FedEx Corporation’s total revenue increased from $19.33 billion in Q1 2021 to $22.01 billion in Q1 2022, indicating a 14% growth on a year-on-year basis. However, the revenue in Q1 2022 declined by 2.5% compared to the previous Q4 2021.

FedEx Corporation consists of the following segments:

The world’s largest express transportation company, Federal Express Corporation (“FedEx Express”), provides time-definite delivery to over 220 countries and territories and connects markets that account for over 99 percent of global GDP.

A leading North American provider, FedEx Freight Corporation (“FedEx Freight”) delivers less-than-truckload (“LTL”) freight services to businesses and residences across all lengths of haul. When speed is crucial to meet a customer’s supply chain needs, FedEx Freight Priority comes into play. On the other hand, when customers can afford to lose time to save costs, they can opt for FedEx Freight Economy. FedEx Freight Direct is a service to fulfill the needs of the developing e-commerce market. It is involved in delivering heavy, bulky products to residences and businesses. All of these are available within the contiguous United States.

FedEx Ground Package System, Inc. (“FedEx Ground”) is a leading small-package ground delivery service provider in North America. FedEx Ground offers low-cost, guaranteed delivery to any business address in the United States and Canada, as well as home delivery to 100% of US households with its FedEx Home Delivery service. FedEx Ground Economy is a division of FedEx that specializes in the consolidation and delivery of large volumes of low-weight, less time-sensitive business-to-consumer packages.

FedEx Corporate Services, Inc. (“FedEx Services”) supports the operating segments with sales, communications, marketing, technical support, information technology, billing and collection, customer services, and certain back-office duties.

Other credits and expenses are not linked to their primary business. Certain costs connected with growing their innovative digitally strategic pillar through the FedEx Dataworks operating segment are included in corporate and others. FedEx Dataworks is also dedicated to developing solutions that will improve the digital and physical experiences of their customers and team members.

The FedEx Office operating segment, which provides a variety of document and business services to their customers as well as retail access to their package transportation businesses, and the FedEx Logistics operating segment, which provides integrated supply chain management solutions, specialty transportation, customs brokerage, and global ocean and air freight forwarding, are also included in Corporate and other.

Corporate, other, and eliminations results are not distributed to the other business categories.

We can observe that throughout all quarters, the Express segment has been consistently accounting for over 50% of the revenue of FedEx Corporation. While the FedEx Ground segment is the second-largest revenue-generating division contributing almost 35% of the revenue. Other segments constitute a significantly smaller portion of the revenue, with freight leading among the three.

If we see segment-wise, Freight has shown the maximum growth in revenue on a year-on-year basis, with revenues increasing from $1.83 million in Q1 2021 to $2.25 million in Q1 2022. The segment other & eliminations has also shown a significant growth of 33.75% in the same time period.

About the Company: 

Founded in 1997 and incorporated in Delaware, FedEx Corporation provides transportation, business, and e-commerce services, operating through companies working collaboratively, competing jointly, and developing digitally under the brand FedEx. The Fiscal year of FedEx starts on June 1st and ends on May 31st. It is listed under the ticker “FDX” on the New York Stock Exchange.

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