As FedEx prepares to report earnings on Tuesday, market watchers are looking at the range of threats the world's second-biggest courier company is facing. Amazon and Uber are both getting into the package delivery market.
As the Memphis, Tennessee-based shipping giant prepares to report earnings on Tuesday, FedEx's cancellation June 7 of its contract with Amazon to deliver packages in the U.S. is just one of a range of threats the world's second-biggest courier company is facing.
ahead. Deutsche Bank's director and lead shipping analyst, Amit Mehrotra, speculated in a June 10 note that the retailer could buy companies like XPO Logistics, C.H. Robinson Worldwide and Forward Air Corp. Morgan Stanley analyst Ravi Shanker thinks the whole parcel industry has to brace for the impact of Amazon taking over more of its own shipping. And S.G.
Shipping and fulfillment, taken together, are a huge line item in the giant online retailer's budget. Last year it spent $27.7 billion on what securities filings called "sortation, fulfillment and transportation costs." But moves like last year's, as well as orders of airplanes, are driving the speculation.
"We are very happy to have the delivery capacity our carrier partners can provide," Cheeseman said in an email. "They provide a high-quality service, and our own delivery efforts are needed to supplement that capacity rather than replace it." filings for its recent initial public stock offering notes it has relationships with about 1,000 shippers and about 36,000 carriers. It brought in more than $125 million in revenue during the fourth quarter of 2018, a year and a half after its May 2017 public launch, the filing says.
FedEx's freight business actually has been gaining market share steadily, the company said in a presentation to institutional investors dated June 10. The company holds about a 20% market share, which has doubled since 2004, the company said.
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