A Look at FedEx’s Capex Forecast for 2019
FedEx (FDX) was optimistic about the passage of the Tax Cuts and Jobs Act (or TCJA). The legislation encourages transportation and logistics (XLI) companies to raise their capex. The company has slightly lowered its 2019 capex forecast to $5.6 billion. In the just-ended fiscal year, the parcel delivery giant incurred capex of $5.7 billion or 8.7% of revenues.