FedEx Corporation - FDX STOCK NEWS

FedEx Freight has recently inaugurated a new 218-door facility in Phoenix, Arizona, enhancing its operational capacity to meet the growing demand in the region. This addition brings the company's total door count to nearly 26,000. Scott Doleman, regional vice president, emphasized the importance of this expansion for addressing market growth. FedEx Freight aims to continue investing in capacity through strategic expansions and modernization projects for its network, ensuring improved service and delivery for customers.

FedEx Corporation (NYSE: FDX) has nominated retired Vice Admiral Nancy A. Norton and Stephen E. Gorman for election to its Board of Directors at the Annual Meeting on September 19, 2022. Norton has extensive experience in cybersecurity, having led critical initiatives for the Department of Defense. Gorman, a former CEO in the air medical sector, brings significant executive leadership experience. If elected, Norton will join the Cyber and Technology Oversight Committee, while Gorman will serve on the Governance and Cyber committees. Thirteen current board members are also up for reelection.

FedEx Corp. (NYSE: FDX) has unveiled its strategic roadmap during an investor meeting aimed at enhancing value for customers and shareholders. The company targets to increase adjusted consolidated operating income by $3.0–$4.5 billion by fiscal 2025 compared to fiscal 2022. Key projections include a 14–19% CAGR for adjusted EPS and 18–22% annualized total shareholder return (TSR). FedEx plans to maintain a capital expenditure to revenue ratio of 6.5% or lower, while continuing to focus on profitable growth and operational efficiency.

FedEx Corp. (NYSE: FDX) partnered with Direct Relief to deliver 52 tons of medical aid to Poland for Ukrainian support on June 26. This flight is part of a series of humanitarian efforts since the Ukraine crisis began, with over 750 tons of aid delivered to date. FedEx's charitable contributions amount to more than $2.3 million, including $1 million for shipping. The initiative addresses severe health service impacts in Ukraine, as stated by Direct Relief’s CEO, highlighting FedEx's commitment to humanitarian missions in challenging circumstances.

FedEx Corp. reported its fiscal 2022 consolidated results, showing revenue of $93.5 billion, an increase from $84.0 billion in fiscal 2021. However, operating income fell to $6.25 billion from $5.86 billion, reflecting a lower operating margin of 6.7%. Net income declined to $3.83 billion compared to $5.23 billion the previous year, leading to diluted EPS of $14.33. The company anticipates earnings per diluted share between $22.45 and $24.45 for fiscal 2023. FedEx also plans to invest $6.8 billion in capital spending, aimed at improving operational efficiency.

FedEx Corp. (NYSE: FDX) has announced the launch of Picture Proof of Delivery, enhancing its e-commerce services for residential deliveries in the U.S. and Canada. This service allows customers to receive a photo confirming the package's delivery location without needing an account. It aims to provide peace of mind for both merchants and consumers, especially benefitting e-commerce retailers. The service will be available soon to FedEx Delivery Manager users, with a broader rollout planned for the holiday shipping season.

FedEx has announced a strategic investment in FourKites to advance global supply chain visibility through a new platform called FourKites X.

FourKites’ system currently supports 2.5 million shipments daily, integrating insights from FedEx's extensive network, which operates over 16.5 million shipments globally.

The collaboration aims to offer enhanced reliability, data-driven insights, and improved supply chain efficiency for large shippers and logistics providers, addressing challenges posed by global disruptions.

FedEx Corp. (NYSE: FDX) has received its first 150 BrightDrop Zevo 600 electric delivery vans, marking one of the largest deployments of commercial electric vans in the U.S. to date. This delivery supports FedEx’s ambition to transition to an all-electric fleet by 2040. The Zevo 600 can travel up to 250 miles per charge, and FedEx plans to incorporate a total of 2,500 vehicles over the coming years. The company is also investing in charging infrastructure to support this transition to sustainable operations.

FedEx Corp. (NYSE: FDX) has promoted Brie Carere to the newly created position of Chief Customer Officer and co-President/co-CEO of FedEx Services. This change aims to enhance the customer experience by aligning strategy, sales, and marketing under one leadership. Carere, who has extensive experience in marketing since joining FedEx in 2001, will focus on innovative, end-to-end customer solutions. FedEx, with an annual revenue of $92 billion, emphasizes a customer-centric approach and aims for carbon-neutral operations by 2040.