FedEx Corporation reports developments across its global transportation, e-commerce and business services network. News about FDX commonly covers package delivery operations, FedEx Freight, FedEx Office, FedEx Logistics, service launches such as FedEx SameDay Local, and supply-chain technology initiatives involving FedEx Dataworks.
Recurring company updates also include dividend declarations, governance and leadership changes, material agreements, capital-structure matters, and operating and financial results. Coverage of FedEx Freight includes segment-level developments and related public-company separation disclosures while the company continues to operate its broader FedEx network.
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.
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FedEx delivered the Vince Lombardi Trophy to the Super Bowl Experience in Los Angeles using its all-electric delivery vehicle, marking a significant milestone in its commitment to sustainability. This event, which took place during Super Bowl LVI, highlighted FedEx's goal of achieving carbon-neutral operations by 2040. Real-time monitoring of the trophy was conducted using FedEx's SenseAware technology, ensuring its safe transport. Fans can view the trophy during the week leading up to the game, culminating in the award presentation on February 13, 2022.
FedEx (NYSE: FDX) has launched the FedEx-HBCU Student Ambassador Program, aimed at preparing students from eight Historically Black Colleges and Universities (HBCUs) for leadership roles in various sectors. The program will commence in March and includes virtual and hybrid meetings, providing participants with access to executives and resources to enhance career readiness. This initiative aligns with FedEx's five-year commitment to HBCUs and emphasizes building a diverse talent pipeline.
FedEx and Microsoft announced an innovative logistics as a service solution aimed at enhancing merchant competitiveness in e-commerce. Through this collaboration, the companies will integrate FedEx's network intelligence with Microsoft Dynamics 365, enabling better customer engagement and efficient shipping. This solution allows brands to utilize data insights for improved order fulfillment, near real-time delivery status, and frictionless returns. Expected availability in the U.S. is set for the second half of 2022, capitalizing on e-commerce growth projected at 110 million packages daily by 2022.