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FedEx | 8-K: FedEx Announces Its Financial Results for the Fiscal Quarter and Year Ending May 31, 2024

SEC announcement ·  Jun 26 04:19
Summary by Futu AI
On June 25, 2024, FedEx Corporation reported its financial results for the fiscal quarter and year ended May 31, 2024. The report, filed with the SEC, highlighted a full-year diluted EPS of $17.21 and an adjusted diluted EPS of $17.80. FedEx introduced its fiscal 2025 outlook, including $2.2 billion in cost savings from its DRIVE program and plans to assess the role of FedEx Freight in its value-creation strategies. The company returned $3.8 billion to shareholders through stock repurchases and dividends during fiscal 2024. Revenue for the quarter was $22.1 billion, a slight increase from the previous year's $21.9 billion. Operating income rose to $1.56 billion from $1.50 billion, and net income was $1.47 billion, down from $1.54 billion the previous year. For the full fiscal year, revenue was $87.7 billion, down from $90.2 billion...Show More
On June 25, 2024, FedEx Corporation reported its financial results for the fiscal quarter and year ended May 31, 2024. The report, filed with the SEC, highlighted a full-year diluted EPS of $17.21 and an adjusted diluted EPS of $17.80. FedEx introduced its fiscal 2025 outlook, including $2.2 billion in cost savings from its DRIVE program and plans to assess the role of FedEx Freight in its value-creation strategies. The company returned $3.8 billion to shareholders through stock repurchases and dividends during fiscal 2024. Revenue for the quarter was $22.1 billion, a slight increase from the previous year's $21.9 billion. Operating income rose to $1.56 billion from $1.50 billion, and net income was $1.47 billion, down from $1.54 billion the previous year. For the full fiscal year, revenue was $87.7 billion, down from $90.2 billion, with operating income at $5.56 billion, up from $4.91 billion. FedEx also announced plans to repurchase $2.5 billion of common stock and increase the annual dividend rate by 10%. The company's capital spending for fiscal 2024 was $5.2 billion, a decrease from the previous year's $6.2 billion. FedEx's outlook for fiscal 2025 includes low-to-mid single-digit percent revenue growth and earnings per diluted share of $18.25 to $20.25 before adjustments.

This announcement is a separate document:

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