A Look at FedEx’s Capital Expenditure in Q1 2019
FedEx (FDX) incurred capital expenditure of $1.17 billion in the first quarter compared to $1.0 billion in the comparable period of fiscal 2018. The increase in capex was due to aircraft purchases, higher IT spending in FedEx Services segment, and increased vehicle purchases in the FedEx Freight and Express segment. For fiscal 2019, FedEx has slightly lowered its 2019 capex forecast to $5.6 billion, or ~8% of its projected revenue.