Can FedEx (FDX) Deliver?

Last quarter, FedEx reported that average daily package volume for FedEx Ground (eCommerce deliveries) increased 29% to 12.3 million.

Did this trend hold through the Holiday Season? LikeFolio data suggests, yes it did.

In the month of December, Ecommerce mentions increased +27% YoY. You can see this delivery bump present in FedEx's demand mentions in Q3.

From a sentiment perspective, FDX lags shipping peer UPS significantly (~15 points), with many mentions of shipping delays.

We expect a strong quarter from FedEx, bolstered by elevated eCommerce demand. Keep in mind, our data highlights the B2C (business to consumer) lens, and will not quantify freight and non-consumer facing activity.