FedEx Corporation - FDX STOCK NEWS

FedEx Corp. (NYSE: FDX) reported consolidated results for Q2 FY2021, achieving revenues of $20.6 billion compared to $17.3 billion in Q2 FY2020. Operating income rose to $1.47 billion, with a diluted EPS of $4.55. Key drivers included growth in FedEx International Priority and U.S. domestic residential services, enhanced by pricing initiatives. Despite these gains, expenses related to COVID-19 and service expansions impacted profitability. FedEx did not provide an earnings forecast for FY2021 but anticipates earnings growth in the second half due to increased service demand.

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), has received its first ATR 72-600F aircraft, marking a significant milestone in its feeder aircraft fleet modernization. The new freighter enhances FedEx's ability to serve customers in hard-to-reach areas and can carry larger payloads than converted models. Under a purchase agreement made in November 2017, FedEx plans to acquire 30 ATR 72-600F aircraft, with the first operated by ASL Airlines Ireland. Currently, FedEx operates 364 feeder aircraft in 56 countries, bolstering its global delivery capabilities.

FedEx Express, a subsidiary of FedEx Corp (NYSE: FDX), announced the start of operations to transport COVID-19 vaccines following FDA's Emergency Use Authorization for the Pfizer-BioNTech vaccine. The company will use its FedEx Priority Overnight service and advanced monitoring to ensure safe deliveries. FedEx has committed to $4 million in support for underserved communities and has transported over 55 kilotons of personal protective equipment since the pandemic began. The FedEx network consists of over 5,000 facilities and nearly 600,000 team members, showcasing its capacity to handle critical shipments.

FedEx Corp. (NYSE: FDX) has agreed to acquire ShopRunner, an e-commerce platform that connects consumers with over 100 brands, enhancing FedEx's e-commerce portfolio. The acquisition, expected to close by year-end pending regulatory approval, aims to create increased value for merchants and consumers. ShopRunner offers benefits like free two-day shipping and exclusive discounts, which will complement FedEx's logistics capabilities. The deal aligns with FedEx's strategy to foster a collaborative e-commerce ecosystem and improve shopping experiences.

FedEx Freight is enhancing its holiday spirit by delivering around 15,000 Christmas trees to military families through the Trees for Troops program. This initiative, starting Dec. 2, involves deliveries to 79 military bases in the U.S. Since its inception in 2004, over 250,000 trees have been delivered, supported by 27 states' tree farms. FedEx Freight's involvement demonstrates its commitment to community service as part of the FedEx Cares initiative, aiming to positively impact 50 million lives by 2023.

The sixth FedEx Trade Index reveals that 82% of U.S. small business leaders believe expanding international trade will enhance the economy. Moreover, 75% see it as a means to create jobs and opportunities. However, 70% of businesses engaged in international trade cite customs regulations as a barrier to their e-commerce. Support for the U.S.-Mexico-Canada Agreement (USMCA) has risen to 91% among U.S. respondents. The survey, conducted by Morning Consult, highlights that 85% of small businesses prioritize job retraining to remain competitive globally.

Happy Returns has partnered with FedEx Corp. (FDX) to incorporate its in-person return service in over 2,000 FedEx Office locations across the U.S. Starting in Los Angeles, this service allows online shoppers to return items box-free for an immediate refund or exchange. Happy Returns has seen significant growth during 2020, adding more new customers in Q2 than all of 2019. The collaboration will quadruple Happy Returns’ locations, enhancing convenience for shoppers and streamlining the returns process for retailers.

FedEx Corp. (NYSE: FDX) announced the completion of its #SupportSmall Grants program, awarding 200 small business owners $5,000 each along with a $500 credit for FedEx Office services. The initiative received nearly 50,000 applications, with 47% of grants going to minority and women-owned businesses. Most recipients plan to use the funds for website enhancements, marketing, or creating online stores. FedEx aims to support small businesses through various programs, including financial and operational resources during the COVID-19 pandemic.

FedEx Office has partnered with Canva to launch a digital design-to-print marketplace aimed at assisting small and mid-sized businesses in creating professionally printed materials as they recover from the pandemic. This collaboration combines Canva's extensive design library with FedEx's printing capabilities accessible at over 2,000 locations across the U.S. Businesses can utilize customizable templates for various materials, including flyers and signage, facilitating their reopening with effective marketing tools. FedEx Office's survey indicates significant demand among consumers for clear communication from businesses during this transition.