FedEx Corporation - FDX STOCK NEWS

FedEx Cares, in collaboration with University of Memphis student athletes, delivered 350 sports bras to the Lady Warriors at Booker T. Washington Jr/Sr High School in Memphis, Tennessee on May 2. This initiative, part of the FLY:FWD program, aims to inspire girls, boost self-esteem, and empower success both on and off the field. Over 30 FedEx Cares volunteers participated in the event, which included teambuilding exercises with the high school students.

Two University of Memphis Lady Tigers athletes, Camber Hayes (Soccer) and Mi'Asia Bergmann (Track & Field), joined the event as part of a new NIL relationship. They encouraged the young women to pursue their dreams, stay present, and remain active. The initiative aligns with studies showing that girls who participate in athletics are more likely to achieve good grades and graduate from high school.

FedEx Corp. (NYSE: FDX) has declared a quarterly cash dividend of $1.38 per share on its common stock. The dividend is payable on October 1, 2024 to stockholders of record as of September 9, 2024. This decision aligns with FedEx's commitment to delivering stockholder value. The company, with annual revenue of $88 billion, offers integrated business solutions through its global network. FedEx employs over 500,000 people and aims to achieve carbon-neutral operations by 2040. The company provides a wide range of transportation, e-commerce, and business services worldwide.

FedEx 's 'The Best of the Best' series highlights recipients of the Hiring Our Heroes Small Business Award for Veterans & Military Spouses. Your Personal Gardener & Arborist, founded by James and Natalie Chesebro in 2011, received a $10,000 grant. The East Troy, Wisconsin-based company offers comprehensive lawn and tree care services. Starting as a part-time venture between James' military deployments, it has grown to employ 22 staff members.

The company overcame challenges by implementing innovative hiring strategies and investing in quality equipment. They contribute to the local economy by supporting local businesses and hiring veterans. The grant will be used to build a bunker for bulk materials, expanding their commercial offerings. Your Personal Gardener & Arborist is recognized for its community engagement, including an annual 'Tree Day of Service' for veterans and support for deployed military families.

The Right Amount Construction (TRA), founded by Gregory DiFranco and joined by Army veteran Brett Caropreso, has been awarded a $10,000 grant from the FedEx Founder's Fund as part of the Hiring Our Heroes Small Business Award for Veterans & Military Spouses. TRA Construction, based in Baltimore, MD, specializes in historic and complex building renovations across the city, regardless of neighborhood socioeconomic status.

The company has doubled its revenue annually since inception, attributing success to strong working relationships and professionalism. TRA focuses on assembling a skilled team, often hiring from the communities they serve. The grant will be used to invest in technology and tools to support their employees' success. The company prioritizes employee well-being through benefits like regular raises and a 4-day work week.

FedEx and Junior Achievement (JA) have been fostering global entrepreneurship for over 40 years, nurturing the next generation of small business owners. FedEx sponsors regional entrepreneurship competitions across all six JA regions, including the FedEx Global Possibilities Seminar and Award and the JA/FedEx Express International Trade Challenge. In Europe, FedEx sponsors the annual GEN-E European Entrepreneurship Festival.

The 2023 JA Company of the Year competition involved 42 countries, 7,574 student participants, 2,116 student companies, and 313 FedEx volunteers. Salvei, a Brazilian student venture, won the JA Americas Company of the Year and the FedEx Global Possibilities Award for their innovative, eco-friendly products and international expansion vision.

FedEx and Direct Relief have been collaborating for over two decades to revolutionize disaster relief efforts, particularly during the Atlantic hurricane season. Their partnership, initiated in 2002, combines FedEx's global logistics capabilities with Direct Relief's mission to deliver essential medical supplies. A key innovation is their award-winning medical backpack initiative, designed for first responders to provide immediate critical care in disaster aftermath.

The program's success was recognized in 2012 with the National Partnership Award from the U.S. Surgeon General's Office. As the 2024 hurricane season approaches, predicted to be active, FedEx and Direct Relief are strategically prepositioning resources for rapid deployment. Their efforts extend beyond hurricane season, aligning with National Preparedness Month in September to promote readiness for unexpected events.

FedEx has demonstrated its commitment to disaster relief and community support through various initiatives globally. The company has supported mental health training for first responders, provided mobile medical units after natural disasters, and delivered tons of aid across Canada and Chile. FedEx also played a important role in the Turkey earthquake response, donating $100,000 and delivering approximately 230 metric tons of relief supplies. The company received the OTHERS Award from The Salvation Army for its humanitarian efforts, including the donation of 22 mobile feeding units. These actions reflect FedEx's ongoing dedication to disaster preparedness, response, and recovery in affected communities worldwide.

Easy Day Sports, founded by U.S. Navy veteran Jamie Monroe, has been awarded a $10,000 grant from the FedEx Founder's Fund as part of the Hiring Our Heroes Small Business Award for Veterans & Military Spouses. The Coronado, California-based company specializes in premier endurance sports event production.

Monroe started Easy Day Sports after being laid off from his job in endurance sports production. The company has grown to a team of six, producing running, cycling, and triathlon events nationwide. During the COVID-19 pandemic, Easy Day Sports pivoted to virtual running events, developing software for leaderboards and time verifications to maintain a competitive atmosphere.

Monroe plans to use the grant money to support his employees, particularly a recently hired Navy sailor and single mother. He attributes his success to commitment and devotion to his initial vision of creating memorable athletic event experiences.

FedEx reported a higher full-year diluted EPS of $17.21 and adjusted diluted EPS of $17.80 for fiscal 2024. The company introduced a fiscal 2025 outlook, with $2.2 billion in DRIVE cost savings. FedEx returned $3.8 billion to stockholders through stock repurchases and dividends during fiscal 2024. Fourth-quarter revenue increased slightly to $22.1 billion, and operating income rose to $1.56 billion. The company plans further optimization, including the permanent closure of seven FedEx Freight facilities and retiring older aircraft. Fiscal 2025 forecasts include low-to-mid single-digit revenue growth and earnings per diluted share between $18.25 and $20.25 before adjustments. Capital spending is projected at $5.2 billion, focusing on network optimization and efficiency improvements. The assessment of FedEx Freight’s role in value-creation plans is ongoing, expected to complete by year-end.