MEMPHIS, TN– Trucking and package delivery giant FedEx Corp. reported a four-percent increase in revenue and over 50-percent jump in profit in its most recent fiscal quarter.

The company had revenue of $11.7-billion for the three-month period ending Feb. 28, compared to $11.3-billion a year earlier. Net income totaled $580-million versus $378-million a year earlier, a 53-percent increase.

“We had a very successful peak season as volumes grew across all transportation segments, and our profit improvement programs are moving ahead as scheduled,” said Frederick Smith, chairman, president and CEO.

Operating results improved due to volume and growth in all three transportation segments, lower fuel prices, benefits from profit improvement program initiatives, less bad weather and reduced pension expenses, the company claims.

For the quarter, the FedEx Freight segment reported revenue of $1.43-billion, up six percent from last year’s $1.35-billion. Operating income totaled $68-million, up 94 percent from $35-million a year ago.

Less-than-truckload average daily shipments increased by three percent, while LTL revenue per shipment grew three percent due to higher rates, according to the company.

FedEx Express reported third quarter revenue of $6.66-billion, compared to last year’s $6.67-billion, while operating income totaled $384-million, up 129 percent from $168-million a year ago.

The company had little change in the segment’s revenue because of lower fuel surcharges and unfavorable currency exchange rates, which more than offset volume and base yield growth.

For the third quarter, the FedEx Ground segment reported revenue of $3.39-billion, up 12 percent from last year’s $3.03-billion. Operating income was $558-million, up 14 percent from $490-million a year ago.

FedEx Ground average daily volume grew seven percent in the third quarter due to growth in both business-to-business and home delivery services, according to the company. Revenue per package increased three percent due to base rate increases and higher dimensional weight charges.