Fedex Corp Stock Price, News & Analysis

FedEx Corp. (NYSE: FDX) announced the winners of its tenth annual Small Business Grant Contest, recognizing ten businesses with significant cash awards and services. This year's grand prize of $50,000 and $4,000 in FedEx services went to three businesses: Kulture Khazana, Niche Snowboards, and Terra Beauty. Additionally, first-place winners received $20,000 and $1,500 in services. In total, the contest received a record of nearly 18,000 entries and has awarded over $1.67 million since inception, emphasizing the importance of supporting small business growth.

Orbis International, supported by FedEx, has launched a ten-week virtual training project in Vietnam to enhance eye care professionals' skills in treating glaucoma, a leading cause of blindness. This initiative addresses the increasing number of glaucoma cases, especially among younger populations, amid shortages of skilled professionals. Training includes virtual lectures, pre-learning courses, and simulation practices, enabling participants to practice complex procedures safely. FedEx has committed over US$22 million to support Orbis’s mission.

FedEx Express is collaborating with Elroy Air to test autonomous air cargo systems aimed at middle-mile delivery in 2023. This partnership marks a significant step in logistics innovation, utilizing Elroy Air's Chaparral aircraft, which can autonomously transport 300-500 pounds of cargo over distances of up to 300 miles. The collaboration is part of FedEx's strategy to enhance safety and efficiency in logistics operations, responding to the growing demand for reliable transportation solutions in the e-commerce sector.

FedEx Corp. (NYSE: FDX) announced leadership changes effective June 1, 2022. Frederick W. Smith will transition to Executive Chairman, while Raj Subramaniam, previously President and COO, will become President and CEO. R. Brad Martin has been appointed non-executive Vice Chairman, with a focus on Board governance. Subramaniam, with over 30 years of experience, aims to drive FedEx's future innovations while maintaining its core values. FedEx, generating $92 billion in annual revenue, is committed to achieving carbon-neutral operations by 2040.

FedEx Office has partnered with Notarize to launch the FedEx Office Online Notary, providing digital notarization services 24/7. This service allows users to notarize documents conveniently from any location through a video conference with a commissioned notary. Notarizations are priced at $25 per transaction, with an additional $10 for extra seals. The service aims to meet the growing demand, as over a billion notarizations occur annually in the U.S., enhancing efficiency for small businesses and consumers.

FedEx Corp. (NYSE: FDX) reported a strong third-quarter performance for the fiscal year ending February 28, with revenue reaching $23.6 billion, up from $21.5 billion a year prior. Operating income surged 32% year-over-year to $1.33 billion, while net income was $1.1 billion, translating to a diluted EPS of $4.20. Despite challenges from the Omicron variant and rising transportation costs, the company expects earnings per diluted share between $18.60 and $19.60 for the fiscal year. FedEx aims for continued growth amidst improving labor availability and stable fuel prices.

FedEx Corp. (NYSE: FDX) has announced the retirement of CEO Donald F. Colleran, effective December 31, 2022, after nearly 40 years with the company. Richard W. Smith, regional president of the Americas, will succeed him as CEO of FedEx Express, transitioning roles on April 1, 2022, and officially taking over on September 1, 2022. Colleran is recognized for his significant contributions, especially in international growth during his tenure. Smith has been with FedEx since 2005, holding various leadership roles, and has been involved in key initiatives such as the electric vehicle strategy.

FedEx Corp. (NYSE: FDX) announces the appointment of Chris Winton as the new corporate vice president of human resources, succeeding Judy Edge, effective May 1, 2022. Winton, a 25-year FedEx veteran, aims to enhance recruitment and retention strategies, focusing on diversity, equity, and inclusion. Edge will support the transition as an executive advisor until her retirement on July 31, 2022. Chairman Frederick W. Smith expressed confidence in Winton's capabilities, citing his strategic approach to workforce challenges.

The Board of Directors of FedEx Corp. (NYSE: FDX) has declared a quarterly cash dividend of $0.75 per share. This dividend will be payable on April 1, 2022, to stockholders of record at the close of business on March 7, 2022. FedEx reported an annual revenue of $90 billion and is recognized as a leading provider of transportation and e-commerce services. The company aims for carbon-neutral operations by 2040, demonstrating its commitment to sustainable practices.