FedEx Corporation is an American multinational courier delivery service company famous for its overnight shipping and delivery services. Founded in January 1998, FedEx has grown to become one of the global leaders in couriers and local delivery services. The company generated close to 84 billion U.S. dollars in annual revenue in the fiscal year of 2021 alone and has its headquarters in Memphis, Tennessee.
Business segments of FedEx
Initially known as FDX Corporation, its name was formally changed to its current name in January 2000. This name change was followed by a general rebranding of all of its subsidiaries offering other services besides express shipping. FedEx’s numerous other operating segments include its original overnight courier services, FedEx Express, FedEx Ground, FedEx Freight, Fed Ex Custom Critical, and FedEx Services. In 2021, FedEx Express had a total aircraft fleet size of 684 aircraft in service. In that same year, the FedEx Express' freight revenue amounted to 8.1 billion U.S. dollars. The FedEx Services segment comprise of subsidiary divisions such as FedEx Offices (formerly FedEx Kinko’s), FedEx Ship Centers, as well as, FedEx office and print centers which provides such services as copying, printing, and access to the internet. Total package revenue for FedEx in 2021 was around 32.5 billion U.S. dollars.
FedEx in the international market
FedEx Corporation has continued to grow its portfolio with total assets rising to a value of around 82.7 billion U.S. dollars in 2021. Looking to expand its operations in Europe, FedEx acquired TNT Express, a Dutch-owned international courier delivery service company, in May 2016.
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