Earnings:
Thursday December 17, 8:23 am Eastern Time
FDX Corp Q2 net rises
MEMPHIS, Tenn., Dec. 17 (Reuters) -
(In millions, except earnings per share)
FedEx FedEx
Q2 & FYTD &
Caliber Caliber
Three Months Period Six Months Period
Ended 8/17/97- Ended 5/25/97-
11/30/98 11/8/97 11/30/98 11/8/97
Revenue:
FedEx U.S. Domestic $2,518 $2,360 $5,016 $4,790
FedEx International 964 939 1,884 1,807
RPS 481 420 921 778
Viking 94 88 190 190
Other 152 135 281 244
Total Revenue 4,209 3,942 8,292 7,809
Operating Expenses:
FedEx U.S. Domestic 2,301 2,192 4,594 4,382
FedEx International 930 893 1,836 1,737
RPS 420 366 811 689
Viking 87 82 176 189
Other 134 120 254 219
Total Operating
Expenses 3,872 3,653 7,671 7,216
Operating Income (Loss):
FedEx U.S. Domestic 217 168 422 408
FedEx International 34 46 48 70
RPS 61 54 110 89
Viking 7 6 14 1
Other 18 15 27 25
Total Operating Income 337 289 621 593
Other Income (Expense):
Interest, net (25) (32) (50) (62)
Other, net - - (3) 11
Total Other Income
(Expense) (25) (32) (53) (51)
Pretax Income 312 257 568 542
Provision for Income Taxes 129 107 236 227
Net Income 183 150 332 315
Basic Earnings Per Share 1.24 1.02 2.25 2.15
Common Shares 147.554 146.475 147.494 146.406
Diluted Earnings Per Share 1.23 1.00 2.23 2.11
Common and Common Equivalent
Shares 148.926 149.278 149.149 148.994
Second Quarter Fiscal 1999
FedEx FedEx
Q2 & FYTD &
Caliber Caliber
Three Months Period Six Months Period
Ended 8/17/97- Ended 5/25/97-
11/30/98 11/8/97 11/30/98 11/8/97
FEDEX
Operating Weekdays 63 63 129 127
AVERAGE DAILY EXPRESS VOLUME
Priority Overnight
1,319,607 1,245,772 1,289,848 1,236,861
Standard Overnight 646,785 622,041 632,568 626,051
2Day/Express Saver 882,501 854,647 858,023 840,257
Overnight/2Day/Express
Saver Freight 11,428 9,479 10,715 8,698
Total U.S.A. Express
Volume 2,860,321 2,731,939 2,791,154 2,711,867
International Priority
284,970 264,901 274,808 255,617
Total Avg Daily Express
Volume 3,145,291 2,996,840 3,065,962 2,967,484
YIELD PER EXPRESS PACKAGE
Priority Overnight $15.34 $15.15 $15.32 $15.28
Standard Overnight 12.39 12.10 12.37 12.13
2Day/Express Saver 9.98 9.63 9.93 10.10
Overnight/2Day/Express
Saver Freight 149.46 142.46 150.21 143.46
Total U.S.A. Express Yield
13.55 13.17 13.51 13.36
International Priority
42.45 41.89 41.96 41.73
Total Composite Yield
16.17 15.71 16.06 15.80
Avg Pounds per Express Package
9.2 8.7 9.0 8.5
Avg Revenue per Express Pound
1.77 1.80 1.79 1.86
INT'L AIRFREIGHT (IXF/ATA)
Millions of Pounds 171.3 188.0 344.3 357.7
Revenue per Pound 0.81 0.88 0.79 0.89
RPS
Operating Weekdays 62 59 126 117
Average Daily Volume
1,463,808 1,410,245 1,386,052 1,321,594
Composite Yield 5.30 5.05 5.28 5.03
VIKING
Operating Weekdays 62 59 127 117
Shipments Per Day 13,073 12,942 12,908 14,946
Revenue/CWT 9.76 9.52 9.70 9.06
Second Quarter Fiscal 1999
(In millions)
Three Months Ended Six Months Ended
November 30 November 30
FINANCIAL RESULTS 1998 1997 1998 1997
Revenues $3,482 $3,299 $6,899 $6,596
Operating Expenses:
Salaries and benefits 1,542 1,425 3,082 2,876
Rentals and landing fees 328 317 642 591
Depreciation and amortization 221 209 442 411
Fuel 151 182 297 356
Maintenance and repairs 218 196 447 395
Other 771 756 1,519 1,489
3,231 3,085 6,429 6,118
Operating Income 251 214 470 478
Other Income (Expense):
Interest, net (21) (29) (43) (55)
Other, net (2) - (6) 8
(23) (29) (49) (47)
Pretax Income 228 185 421 431
Provision for Income Taxes 94 78 175 181
Net Income 134 107 246 250
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