FedEx Corporation Revenue in 2024

FedEx Corporation reported $87.7B in revenue for fiscal year 2024. This represents a decline of 2.7% compared to the 2023 figure of $90.2B.

Six years later, Smith would stake his family inheritance and millions in venture capital on that same idea, and within three decades that C-graded concept had grown into an $87.7 billion corporation processing more than 16 million shipments per day across 220 countries and territories. The company was hemorrhaging cash almost immediately — burning through more than $1 million per month in its early years — and Smith famously flew to Las Vegas with the company's last $5,000 and won $27,000 at blackjack to make payroll. By fiscal year 2024, FedEx had revenues of approximately $87.7 billion, down modestly from post-pandemic peaks but still representing an organization of extraordinary operational complexity. CEO Raj Subramaniam, who replaced founder Frederick Smith in June 2022, is executing a program called DRIVE designed to strip approximately $4 billion in structural costs from the business while simultaneously consolidating the company's historically separate operating units into a single integrated network. In fiscal year 2024, FedEx reported revenues of approximately $87.7 billion and employed roughly 510,000 people worldwide. Under CEO Raj Subramaniam, FedEx is executing the DRIVE transformation program targeting $4 billion in structural cost reductions and the consolidation of its historically siloed operating divisions into a unified network architecture. FedEx trades on the New York Stock Exchange under the ticker FDX and carries a market capitalization of approximately $56 billion as of mid-2025. In fiscal year 2024, the Express segment generated revenues of approximately $35.5 billion, though it also carried the highest cost structure in the company given the capital intensity of operating an air network. By fiscal year 2024, the Ground segment contributed revenues of approximately $31.6 billion. In fiscal year 2024, Freight generated revenues of approximately $9.5 billion. The company's technology investments, encompassing approximately $1.7 billion in capital expenditures annually, underpin everything from the SenseAware real-time condition monitoring system to the AI-powered route optimization tools being deployed across the ground network. The program is expected to deliver approximately $4 billion in structural cost savings by the end of fiscal year 2025, with the bulk of reductions coming from workforce optimization, real estate consolidation, and route efficiency improvements. FedEx Corporation is a Logistics & Courier Services company with $87.7B in 2024 revenue and 510K employees worldwide. From its founding in Memphis in 1971 to its current status as an $87.7 billion global enterprise, FedEx has consistently been leading of transportation innovation — not merely following market trends but actively creating them. In fiscal year 2024, UPS reported revenues of approximately $91.1 billion compared to FedEx's $87.7 billion — a narrowing of the gap that reflects UPS's challenges with losing the Amazon contract combined with FedEx's ongoing cost-reduction progress. In fiscal year 2024 (ending May 31, 2024), FedEx reported total revenues of approximately $87.7 billion, representing a decline from $90.2 billion in fiscal year 2023. Operating income for fiscal year 2024 improved to approximately $5.0 billion from $4.2 billion in the prior year, demonstrating that the DRIVE cost reduction program is generating tangible financial benefit. Net income for fiscal year 2024 was approximately $3.3 billion, translating to earnings per share of approximately $13.89 on a diluted basis. FedEx has identified and begun realizing cost savings approaching $2.2 billion in fiscal year 2024 against the $4 billion total target. Free cash flow generation improved meaningfully in fiscal year 2024, with the company generating approximately $3.0-3.5 billion in free cash flow, which it deployed toward share repurchases and debt reduction. Capital expenditures declined to approximately $5.2 billion from higher levels in prior years as the company moderated its aircraft fleet expansion plans in response to the volume environment. The company's fiscal year 2024 revenue of $87.7 billion was below the $90.2 billion reported in fiscal year 2023, reflecting both volume pressure and a competitive pricing environment. The 2016 acquisition of TNT Express for approximately $4.4 billion was intended to create a pan-European delivery network that could compete with DHL on its home turf. FedEx ultimately acknowledged losses exceeding $400 million directly attributable to NotPetya, and the full integration of TNT's systems was delayed by years. Share buybacks — the company repurchased approximately $2.5 billion of its own stock in fiscal year 2024 — compete with capital investment and debt reduction for available free cash flow, creating ongoing tension in capital allocation decisions. On DRIVE: FedEx is targeting the completion of its $4 billion structural cost savings program by the end of fiscal year 2025. Smith reportedly contacted more than 100 potential investors before assembling a total initial capitalization of approximately $91 million, which at the time was the largest venture capital startup financing in American history. Smith personally contributed approximately $4 million from his family inheritance.