Fedex Corp - FDX STOCK NEWS

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.

FedEx Corporation (NYSE: FDX) announced significant corporate advancements aimed at enhancing shareholder value. The Board of Directors declared a quarterly dividend of $1.15 per share, a notable increase of 53% from the previous dividend of $0.75, effective July 11, 2022. Additionally, they revamped the executive compensation program by adding a total shareholder return (TSR) metric to ensure management accountability. The company appointed Amy B. Lane and Jim Vena as independent directors in alignment with a cooperation agreement with the D. E. Shaw group, further bolstering governance and oversight.

Aurora Innovation and FedEx have expanded their collaboration by launching a new commercial route in Texas, now autonomously transporting shipments from Fort Worth to El Paso. This extension of their pilot program, started in September 2021, showcases the efficiency of Aurora's autonomous trucks, which have delivered 100% of shipments on time. With 60,000 miles completed and zero safety incidents, Aurora aims to increase trip frequency while addressing industry challenges like labor shortages and demand for quick deliveries.

eBay and FedEx have announced a new integration allowing Canadian e-commerce sellers to access FedEx shipping services directly through eBay Labels. This partnership enhances the shipping experience, providing sellers with seamless, cost-effective solutions at preferential rates. The initiative is geared towards meeting the growing e-commerce demand, with FedEx projecting significant shipping volume increases. This move aims to improve the selling experience for thousands of Canadian sellers by simplifying shipping processes and providing better fulfillment options.

FedEx Corp. (NYSE: FDX) announced the winners of its tenth annual Small Business Grant Contest, recognizing ten businesses with significant cash awards and services. This year's grand prize of $50,000 and $4,000 in FedEx services went to three businesses: Kulture Khazana, Niche Snowboards, and Terra Beauty. Additionally, first-place winners received $20,000 and $1,500 in services. In total, the contest received a record of nearly 18,000 entries and has awarded over $1.67 million since inception, emphasizing the importance of supporting small business growth.