Fedex Corp Stock Price, News & Analysis

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.

FedEx, in collaboration with EIT Climate-KIC, is supporting sustainable mobility projects across European cities to combat urban congestion and promote eco-friendly transportation. In 2023, four cities—Olot in Spain, Karasu in Turkey, Hackney in the UK, and Espoo in Finland—initiated projects funded by the FedEx-supported Sustainable Cities Climate Impact Challenge.

Olot is constructing secure bike parking to encourage cycling. Karasu plans to connect bike paths to reduce congestion. Hackney has provided grants to small businesses for cargo bikes to facilitate eco-friendly deliveries. Espoo is offering free cycling workshops to immigrants to enhance social inclusion and gender equality.

Fleets and utilities are being urged to collaborate to advance vehicle electrification, which is essential for transportation decarbonization. Historically, fleets of internal combustion engine (ICE) vehicles had interactions with utilities. However, electrification necessitates a robust charging infrastructure, which requires close coordination with utilities. The planning for charging infrastructure must align with electrification timelines, as vehicles can be ordered faster than new infrastructure can be developed. As thousands of electric vehicle fleets prepare to launch, and numerous utility jurisdictions manage planning, proactive grid investments and collaboration are critical to overcoming these challenges and becoming leaders in the vehicle electrification space.

FedEx announced the winners of its 12th annual Small Business Grants Program, selecting 10 U.S. businesses from over 3,900 applications. The grand prize of $50,000 was awarded to Bombi from Greenville, RI. Nine additional businesses each received $20,000, including Better Boba, Bundle x Joy, Erie Cotton, Jasper Yeast, Locsanity, Madhu Chocolate, Marky Sparky Toys, Tandem Drums, and YALA.

All recipients also received a $500 FedEx Office print credit, a $300 My FedEx Rewards voucher, and access to several FedEx services such as Premier Customer Care and packaging and technology consultations. Since its inception, the program has awarded over $2 million in grant money and printing credits.

Senior Vice President Aimee DiCicco emphasized FedEx's commitment to empowering small businesses. Bombi's Co-Founder, Kelsey Nolan, expressed gratitude for the grant, highlighting its support for their sustainability and innovation efforts.

The Board of Directors of FedEx Corp. (NYSE: FDX) has approved a 10% increase in the annual dividend rate to $5.52 per share for fiscal 2025.

The quarterly cash dividend is set at $1.38 per share, payable on July 9, 2024, to stockholders of record on June 24, 2024.

This move aligns with FedEx's strategy of delivering value to stockholders.

FedEx, with an annual revenue of $88 billion, offers a broad range of global transportation, e-commerce, and business services. The company employs over 500,000 people and aims for carbon-neutral operations by 2040.

FedEx has responded quickly to catastrophic flooding in southern Brazil by collaborating with The Salvation Army Brazil. Within 24 hours of the disaster, FedEx provided a grant to support relief efforts, including food, clean water, hygiene kits, cleaning supplies, and clothing for affected families. The company has supported The Salvation Army Brazil for many years, previously donating an emergency response vehicle that is now being used to assist flood victims. FedEx encourages community involvement but advises against shipping collected items as part of their relief strategy.

The 2023 FedEx Cares Report, released on June 4, 2024, highlights FedEx's efforts throughout 2023. The report focuses on FedEx's commitment to creating opportunities in education, basic needs, employment, mentorship, business growth, and cultural experiences. Additionally, it underscores the company's initiatives to engage its employees in volunteer activities, fostering a stronger corporate culture and community interaction. More details and multimedia content can be accessed on FedEx's website and 3BL Media.

Save the Chimps sanctuary in Fort Pierce, FL, showcased artwork created by chimpanzees at Art Expo NY, raising $20,000 for the sanctuary. The event, backed by Joaquin Phoenix, Rooney Mara, and FedEx, highlighted the talents of the chimps, whose canvases traveled from California to Florida, then New York. FedEx donated the shipping as part of its FedEx Cares 'Delivering for Good' initiative, which supports precious cargo requests and community aid. Save the Chimps, the world's largest privately funded chimpanzee sanctuary, provides care for over 220 chimps.