Fedex can't help winning
Fedex remains a winner of the 2020 pandemic. The company recently reported its consolidated results for the quarter ended 30 November 2020.
In the three months from September to November, revenues surged from USD 17.3 billion to USD 20.6 million (+16.1%) compared to the same period in 2019, while operating income increased almost threefold from USD 554 million to USD 1.47 billion.
Net income also improved significantly, going up from USD 560 million to USD 1.23 billion. The latter figures include "a pre-tax non-cash loss of USD 52 million associated with amending a TNT Express European pension plan to harmonise retirement benefits," as a media release said. The company's capital spending forecast for the year 2021 remains at USD 5.1 billion. (sh)