FedEx Corporation - FDX STOCK NEWS

FedEx 's 2023 FedEx Cares Report highlights the company's commitment to promoting equal opportunity and economic growth in Memphis. The report outlines FedEx's strategy to address Memphis' high poverty rate and support inclusive economic growth through partnerships with local nonprofits. Key initiatives include:

BRIDGES: A program serving 3,000 students, focusing on leadership development and community engagement.

Hire Local: A workforce development program that placed 43 Memphians in new hospital careers in 2023.

Church Health: Supported healthcare access for 12,800 unique patients in 2023.

Habitat for Humanity: FedEx volunteers contributed 1,537 hours, helping construct four homes in the Memphis area.

These efforts aim to improve education, workforce participation, and financial stability in Memphis, addressing the city's 21.4% poverty rate, which is the 5th highest among large U.S. cities.

FedEx has donated its 25th mobile canteen to The Salvation Army in St. Marys, Georgia. These rolling kitchens of compassion are used to provide relief during disasters and serve communities year-round. The latest donation was immediately put to use following Hurricane Debby, demonstrating its important role in emergency response.

Since 2006, FedEx has been donating these mobile canteens, which have served people affected by various disasters in 18 U.S. cities and 7 other countries. The canteens offer hot meals, clean water, and comfort to those in crisis, serving as mobile beacons of hope for communities facing hardship.

FedEx supported The Salvation Army in deploying co-branded canteens to 41 events in Q2 2024, serving food and drinks to communities and disaster-affected areas. Mobile canteens were used in various regions, including Arizona, Pennsylvania, and Georgia, with ribbon-cutting events marking their completion. FedEx also donated $25,000 for Brazil flood relief, assisting over 873,000 people affected by torrential rains.

Disaster responses included: an EF-3 tornado in Kansas, extreme heat in Missouri, and 10 fires in Illinois, serving meals and drinks to survivors, first responders, and volunteers. Community outreach programs in cities like San Francisco, New York, Baltimore, and Pittsburgh provided thousands of meals and hygiene kits to the homeless and underprivileged.

Other notable efforts included fan distribution in Kansas City, meal services in Memphis and New Orleans, and mobile feeding programs in Virginia and New Jersey, highlighting FedEx's commitment to social responsibility and disaster relief.

Mickey's Popcorn, a Memphis-based gourmet popcorn business, is making waves in youth development through its nonprofit arm, The Gradus Project. The company, founded by Kenny and Dr. Penny Mickey in 2020, recently hosted the 'On and Poppin Teen Camp' in collaboration with FedEx Cares. The camp provided high school students from Youth Villages with hands-on entrepreneurial experience, including product development, packaging, and shipping processes.

Participants created unique popcorn flavors and pitched their creations to judges, competing for a $1,000 prize. The camp also featured sessions on networking and career development led by FedEx professionals. Mickey's Popcorn aims to expand this initiative, potentially allowing future winners to brand and sell their creations, further empowering Memphis youth through entrepreneurship.

FedEx has supported the development of GridUp, a state-of-the-art tool by RMI that helps utilities forecast energy and power needs for electric vehicle (EV) charging. GridUp provides detailed forecasts at the census-block group level, enabling decision-makers to upgrade the grid efficiently to meet increasing EV charging demands. The tool addresses a critical barrier to widespread transportation electrification by projecting when and where EVs will need power with granular detail.

GridUp can forecast areas of high EV growth, energy requirements for charging, and types of charging locations needed in specific areas. It has been piloted since 2021, gaining insights from utilities and regulators. The tool is important for utilities, cities, and states to make informed planning and investment decisions, ensuring equitable and ubiquitous charging availability.

FedEx partners with the U.S. Chamber of Commerce Foundation's Small Business Readiness for Resiliency Program (R4R) to support small businesses in facing challenges and building resilience. The initiative, endorsed by NASCAR driver Denny Hamlin, aims to equip entrepreneurs with tools and resources for disaster preparedness and recovery.

Hamlin, who grew up in a small business environment, emphasizes the importance of resilience in both racing and business. The R4R program offers guidance on preparing for disasters and provides financial assistance to help businesses recover quickly. This effort aligns with FedEx's commitment to strengthening local economies and supporting small business owners across the country.

The program's impact is illustrated through Hamlin's visit to Lebos, a family-run business in Charlotte, where he shared disaster preparedness steps. FedEx's involvement in R4R is part of its broader FedEx Cares global community engagement program, demonstrating the company's dedication to fostering resilient communities and supporting small businesses.

White Knight Labs (WKL), a boutique offensive cyber security consultancy, has been awarded a $10,000 grant from the Hiring Our Heroes Small Business Award for Veterans & Military Spouses, funded by the FedEx Founder's Fund. Founded in 2016 by John Stigerwalt and later joined by Greg Hatcher, a former green beret, WKL specializes in red teaming, cloud penetration testing, and securing embedded medical devices.

The company has grown to a team of 30 engineers with operations in Europe and Asia. WKL is committed to mentoring the next generation of cyber operators through internships and community involvement. The grant will fund two additional seats in all their courses for veterans, promoting skill development and education in cybersecurity.

FedEx's 'Delivering for Good' initiative showcases the company's commitment to community impact beyond package delivery. Recently, FedEx assisted in transporting a significant plant fossil collection from the Yale Peabody Museum to the Smithsonian's National Museum of Natural History in Washington D.C. This collection, dating back 50-66 million years, includes extinct relatives of various tree species and provides important insights into Earth's climate history.

The fossils, collected in the Bighorn Basin of Wyoming and Montana, offer valuable data on temperature fluctuations, ecosystem changes, and abrupt warming events. By facilitating this transfer, FedEx has contributed to the preservation and study of these specimens, which are now part of the world's largest plant fossil archive. This effort aligns with FedEx's broader community engagement program, FedEx Cares, demonstrating the company's role in supporting scientific research and environmental understanding.

FedEx has announced the winners of its Picture Proof of Planting photo contest, which received nearly 140 submissions and over 4,000 votes for 15 semi-finalists. Five nonprofits will each receive a $5,000 USD grant as part of the contest. The winning organizations are:

1. Salt Strong Alliance (Florida, USA) - coastal conservation
2. Treat Every Environment Special (TrEES) (Malaysia) - environmental conservation and education
3. Gawad Kalinga Community Development Foundation (Philippines) - poverty eradication
4. The Wolf River Conservancy (Memphis, USA) - river and watershed preservation
5. We4all (Greece) - environmental conservation and reforestation

The contest is part of FedEx Cares, the company's global community engagement program. The grants for non-U.S. organizations are subject to final vetting and approval by CAF America.