FedEx (FDX) Revenue — Quarter Ended Feb 28, 2023
FedEx experienced a decline in revenue for the quarter, with decreases from both the previous quarter and the same period last year. The company noted an immaterial negative impact from USPS restructuring during the quarter.
Key takeaway
Quarter ended Feb 28, 2023 · FY2023 Q3
FedEx experienced a decline in revenue for the quarter, with decreases from both the previous quarter and the same period last year. The company noted an immaterial negative impact from USPS restructuring during the quarter.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$22.2B
Revenue reported for this quarter.
Quarter-over-quarter
-2.8%
Change from the immediately preceding quarter.
Year-over-year
-6.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$92.6B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| May 31, 2022 | $24.4B | +8.1% |
| Aug 31, 2022 | $23.2B | +5.6% |
| Nov 30, 2022 | $22.8B | -2.8% |
| Feb 28, 2023 | $22.2B | -6.2% |
Revenue performance
Revenue was lower than the preceding quarter, continuing a downward trajectory observed in recent periods.
Quarterly comparison
Compared to the immediately preceding quarter, revenue declined. Compared to the same quarter one year ago, revenue also decreased.
What to watch
The company anticipates further volume reductions from the USPS in the upcoming quarter and beyond, with the contract set to expire next year.