FedEx (FDX) - Get Report said it will increase shipping rates at its express unit, which delivers packages by plane, by an average of 4.9% for U.S. domestic, U.S. export and U.S. import services beginning Jan. 6, 2020.
The Memphis-based company said shipping rates at FedEx's freight unit will increase by an average of 5.9% for shipments within the U.S. and between U.S. and Canada. FedEx Freight shipping rates also will increase for shipments within Canada, within Mexico, and between the contiguous U.S. and Mexico.
Effective Jan. 20, FedEx said there will be changes to applicable surcharges for FedEx Express and FedEx Ground fuel surcharge assessment. The company said it wouldn't apply additional residential surcharges during the holiday season, except for certain shipments.
FedEx is scheduled to report quarterly earnings after the market closes on Tuesday. Analysts expect the shipping giant to report adjusted net income of $828 million, or $3.16 a share, on sales of $17.1 billion. In the same period a year ago, the company posted earnings of $3.46 a share on sales of $17.1 billion.
Shares were off slightly to $173.57 in premarket trading Tuesday.