The world’s second-biggest package-shipper continues to keep pace with its larger rival, United Parcel Service. Both businesses climbed three rungs on this year’s Fortune 500 ladder, their revenues each growing by around 9% for their 2018 fiscal years. In FedEx’s case, annual sales swelled to $65.5 billion for the fiscal year ending May 31, 2018—a little more than $6 billion short of its arch-competitor. FedEx’s bottom line benefited from a number of factors, most notably a major corporate tax cut in the U.S. The boon helped boost profits by 52.6%, to $4.6 billion. An obstacle worth keeping an eye on: The company’s 2016 acquisition of Dutch delivery firm TNT Express, intended to expand its international footprint, has proven challenging. FedEx has struggled to assimilate TNT; to make matters worse, the acquired firm was hobbled by the NotPetya cyberattack in 2017, which cost an estimated $400 million in lost business and cleanup.
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"Most of the issues that we are dealing with today are induced by bad political choices," FedEx's CEO said.
Smith said U.S. trade tariffs, China’s “mercantilism,” and Brexit are all contributing to the slowdown.
Each of the vehicles will save thousands of gallons of fuel annually.