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Tag: FedEx Corporation

  • Earnings Report Boosts FedEx (FDX) Shares In After-Market Session

    Earnings Report Boosts FedEx (FDX) Shares In After-Market Session

    Following the announcement of its earnings report, FedEx Corporation (NYSE: FDX) experienced a notable rise in its share price during the after-market session on Tuesday. FDX stock surged by 13.89%, reaching $292.00 on the US stock charts, following an almost stable close during the regular session.

    Financial Performance And DRIVE Program

    For the fourth quarter ending May 31, FedEx (FDX) reported a modest revenue increase, climbing from $21.9 billion the previous year to $22.1 billion this year. Both operating income and margin showed improvement, a result of reduced structural costs as the company continued to implement its DRIVE program. Despite a difficult revenue environment, FedEx achieved notable progress in fiscal 2024, concluding the year with four consecutive quarters of growing operating income and margin.

    These outcomes, which are noteworthy given the state of the economy, demonstrate FedEx’s continuous implementation of its DRIVE programs and its dedication to modernizing the business while offering top-notch customer care. FedEx plans to keep up this momentum through the 2025 fiscal year as it works to create the most adaptable, intelligent, and efficient network possible.

    FedEx Small Business Grants Program

    In addition to its financial performance, FedEx just revealed the winners of its 12th FedEx Small Business Grants Program. Out of approximately 3,900 submissions, 10 U.S.-based enterprises were chosen this year. The $50,000 main award went to Greenville, Rhode Island-based Bombi, while $20,000 went to nine other firms. FedEx is dedicated to giving small and medium-sized business owners the tools they need to succeed by giving them access to essential resources.

    In addition, each grant recipient gets a $300 My FedEx Rewards voucher, a $500 print credit at FedEx Office, access to FedEx Premier Customer Care, a packaging consultation from the FedEx Packaging Lab, a digital and technology consultation from the FedEx Digital Sales Solutions team, a feature on the FedEx Small Business Center, and an invitation to attend a Small Business Strategic Insights Forum.

    Nearly 80,000 companies have applied to the program in the US over the last twelve years, and FedEx has given out more than $2 million in grant money and printing credits overall since the program’s launch.

  • Should You Be Holding FedEx (NYSE: FDX) Right Now?

    Should You Be Holding FedEx (NYSE: FDX) Right Now?

    FedEx Corporation (NYSE: FDX), a multinational delivery services company has traded up 0.14% after reporting the strong first-quarter results. The delivery services company has reported £14.97 billion of revenue and gains £3.78 per share in the first quarter. The company has also announced its plan to help in the distribution of coronavirus vaccine treatment to hospitals and governments around the globe.

    FedEx Corporation has revealed that it is planning to introduce FedEx SenseAware ID, a security-enhanced tracking sensor which the company is planning to use in the distribution of coronavirus vaccine. The delivery services company aimed to connect the world during the period of need. Its main priority is the safety of customers and it has worked continuously to keep the world’s industrial, healthcare, and at-home supply chains flowing amid the pandemic.

    If we look at its Q1 result, FedEx Corporation has reported the net income of  $1.25 billion and $4.72 a share as compared to the $2.84 a share in the earlier year quarter. Its adjusted income climbed to $1.28 billion or $4.87 a share. Looking at its revenue, it has recorded the Q1 revenue of $19.3 billion was 14% up from $17 billion a year earlier.  The company said that its earnings growth has emphasized the importance of its business initiatives and investment over the last several years.

    FedEx Corporation (NYSE: FDX) shares were trading up 0.14% at $236.67 at the time of writing on Wednesday. Its share price went from a low point around $88.69 to briefly over $241.00 in the past 52 weeks, though shares have since pulled back to $236.67. It has moved up 166.85% from its 52-weeks low and moved down -1.80% from its 52-weeks high. FedEx Corporation’s market cap has remained high, hitting $59.78 at the time of writing.

    FedEx CEO said that the “Operating results increased due to volume growth in FedEx International Priority and U.S. domestic residential package services, yield improvement at FedEx Ground and FedEx Freight, and one additional operating weekday.”

    2020 is the year of challenges for many companies but FedEx has seen positive growth in its earning because people preferred to stay at a home amid pandemic. This pandemic environment is advantageous for FedEx as customers were turning towards online shopping. But now customers are going out and do shopping as well by visiting the stores physically. But still, FedEx has an advantageous environment right now.

    The delivery service company has spent $565 million on fuel across the company during the quarter as compared to 35% less than a year earlier. FedEx did not give an earnings forecast for fiscal 2021 because of the prevailing pandemic which caused uncertainty in the market. But the company said it anticipates annual capital spending of $5.1 billion.