FedEx Corporation, known on the New York Stock Exchange as FDX, filed a Form 8-K report with the SEC on September 19, 2024, detailing its financial results for the fiscal quarter ending August 31, 2024. The report highlighted a first-quarter diluted EPS of $3.21 and an adjusted diluted EPS of $3.60. FedEx also announced the completion of a $1 billion share repurchase during the quarter and narrowed its full-year fiscal 2025 earnings outlook range. The company reported a slight decrease in revenue from $21.7 billion in fiscal 2024 to $21.6 billion in fiscal 2025. Operating income also declined from $1.59 billion to $1.21 billion, and net income decreased from $1.16 billion to $0.89 billion. FedEx cited a mix shift towards deferred services, higher operating expenses, and one fewer operating day as factors negatively affecting...Show More

FedEx Corporation, known on the New York Stock Exchange as FDX, filed a Form 8-K report with the SEC on September 19, 2024, detailing its financial results for the fiscal quarter ending August 31, 2024. The report highlighted a first-quarter diluted EPS of $3.21 and an adjusted diluted EPS of $3.60. FedEx also announced the completion of a $1 billion share repurchase during the quarter and narrowed its full-year fiscal 2025 earnings outlook range. The company reported a slight decrease in revenue from $21.7 billion in fiscal 2024 to $21.6 billion in fiscal 2025. Operating income also declined from $1.59 billion to $1.21 billion, and net income decreased from $1.16 billion to $0.89 billion. FedEx cited a mix shift towards deferred services, higher operating expenses, and one fewer operating day as factors negatively affecting the quarter's results. However, cost reductions from the company's DRIVE program initiatives partially offset these challenges. FedEx Ground and FedEx Services merged into Federal Express, creating a unified air-ground express network, while FedEx Freight continues as a separate subsidiary. The company plans to repurchase an additional $1.5 billion of common stock during fiscal 2025, with $4.1 billion remaining under the stock repurchase authorization. FedEx's outlook for fiscal 2025 includes a low single-digit percentage revenue growth rate and earnings per diluted share of $17.90 to $18.90 before MTM retirement plans accounting adjustments. The company reaffirmed its commitment to cost reductions from the DRIVE program, an effective tax rate of approximately 24.5%, and capital spending of $5.2 billion.