FedEx hopes new color-coded air network will shore up profits

FedEx Corp. announced Tuesday evening a restructuring of its FedEx Express international air network in an effort to boost its largest unit’s sagging profits amid continued macro weakness.

The tri-color initiative, as the name implies, will divide the network into three colors: Purple will focus on priority deliveries of packages. Yellow will emphasize the deferred package and air freight segments, where much of the air shipment density lies, and will be handled through FedEx’s (NYSE: FDX)...

https://www.freightwaves.com/news/fedex-hopes-new-color-coded-air-network-will-shore-up-profits

FedEx cuts full-year revenue forecast, shares plunge

FedEx Corp. late Tuesday cut its fiscal 2024 revenue forecast, saying it now expects a single-digit year-on-year revenue decline instead of flat revenue.

The revision, included in its fiscal second-quarter financial results, sent shares plunging more than 8.5% in early after-hours trading.

The company (NYSE: FDX) upped its full-year guidance for diluted earnings per share, now saying it will come in at a range of $15.35 to $16.85 per diluted share from $15.10 to $16.60 per diluted share.

For the...

https://www.freightwaves.com/news/fedex-cuts-full-year-revenue-forecast-shares-plunge

Lawsuit could launch different type of legal battle between FedEx Ground, contractors

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In 2015 and 2016, FedEx Ground paid more than $450 million to settle multiple lawsuits alleging that...

https://www.freightwaves.com/news/lawsuit-could-launch-different-type-of-legal-battle-between-fedex-ground-contractors

Former contractor says FedEx Ground must address driver wage disparity with UPS

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A former high-profile contractor said FedEx Ground, the ground delivery unit of FedEx Corp., (NYSE:...

https://www.freightwaves.com/news/former-contractor-says-fedex-ground-must-address-driver-wage-disparity-with-ups

At 50, FedEx faces new opportunities and challenges

As Monday broke over Wall Street, 60 top FedEx Corp. executives stood at the podium of the New York Stock Exchange to ring the opening bell for trading. Cities across the globe from Kuala Lumpur, Malaysia, to the company’s home in Memphis, Tennessee, were lighting landmarks, and airports were hued in its orange and purple colors. Last week, a portrait series collaboration with the famed photojournalist Annie Leibovitz was published to spotlight and elevate FedEx’s small business customers....

https://www.freightwaves.com/news/at-50-fedex-faces-new-opportunities-and-challenges

1 analyst cautious, 1 optimistic following One FedEx announcement

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Not every analyst is head over heels over FedEx Corp.’s announcement Wednesday that it will...

https://www.freightwaves.com/news/strong1-analyst-cautious-1-optimistic-following-one-fedex-announcementstrong

FedEx combining main units — except LTL — into 1 organization

In unarguably one of the most important moves in its history, FedEx Corp. said Wednesday it will combine three of its operating units, including its two largest, into one business known as Federal Express Corp.

The transition will bring FedEx’s (NYSE: FDX) air, ground parcel and FedEx Services businesses under one umbrella, effective June 1, 2024. FedEx Freight, the company’s LTL operation, will continue to operate as a stand-alone entity within the new corporation. The company didn’t explain...

https://www.freightwaves.com/news/fedex-combining-main-units-except-ltl-into-1-organization

FedEx Ground game got the job done in Q3

FedEx Corp.’s strong cost-reduction actions at its FedEx Ground U.S. delivery unit allowed the company to comfortably beat third-quarter estimates, raise full-year earnings per-share guidance and take the pressure off its lagging FedEx Express unit to quickly bring its costs under control.

FedEx (NYSE: FDX) reported adjusted earnings of $3.41 per share, which excluded 36 cents per share of restructuring costs. This is 70 cents above industry consensus, an achievement that surprised and pleased...

https://www.freightwaves.com/news/fedex-ground-game-got-the-job-done-in-q3

FedEx’s Q3 cost-cut programs put it further ahead than expected

FedEx Corp.’s fiscal third-quarter 2023 results late Thursday came in better than expected on the bottom line but not so great on the top or bottom, as expected, at its air and international unit, FedEx Express.

Total revenue of $22.1 billion was 6% below the same period a year ago, as the company continues to manage through a sudden and, in the case of FedEx Express, ferocious drop in volumes. 

FedEx Express reported an 8% drop in revenue, while FedEx Ground, the company’s U.S. ground-delivery...

https://www.freightwaves.com/news/fedexs-q3-cost-cut-programs-put-it-further-ahead-than-expected

Los programas de reducción de costos de FedEx en el tercer trimestre la sitúan por delante de lo esperado 

Los resultados del tercer trimestre fiscal 2023 de FedEx Corp. a última hora del jueves fueron mejores de lo esperado en la línea inferior, pero no tan grandes en la parte superior o inferior, como se esperaba, en su unidad aérea e internacional, FedEx Express. 

Los ingresos totales de 22.100 millones de dólares fueron un 6% inferiores a los del mismo periodo del año anterior, mientras la compañía sigue gestionando una repentina y, en el caso de FedEx Express, feroz caída de los volúmenes.  

FedEx...

https://www.freightwaves.com/news/los-programas-de-reduccion-de-costos-de-fedex-en-el-tercer-trimestre-la-situan-por-delante-de-lo-esperado

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