Billions of dollars in cuts seemingly help FedEx get back on track
FedEx stock was up more than 10% following an earnings release last week, with numbers high enough that the company increased its forecast for the full fiscal year.
Topic: FedEx Express
RSSThere are 59 article(s) tagged FedEx Express:
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March 2023
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December 2022
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Will FedEx report another weak quarter?
Tuesday’s earnings call is expected to focus on how effective the company’s sweeping cost-cutting initiatives announced in September have been so far.
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November 2022
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Despite market softness, FedEx prepares for holiday peak season
The deadline to ensure packages arrive in time for Christmas using FedEx Ground is Dec. 14. The last day to ship for FedEx Express Saver is Dec. 20.
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FedEx begins reducing flight frequencies following poor quarter
FedEx will focus first on parking its older planes, an action that will also defer costly maintenance events, company executives anticipate.
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September 2022
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FedEx announces $2 billion in cost-cutting measures, rate increases
In 2023, FedEx hopes to generate total cost savings of $2.2 to 2.7 billion, and the Memphis-based company plans increase some of its rates.
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August 2022
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FedEx wrapping up fleet modernization, buying more planes
As of May 31, FedEx Express had $1.3 billion in deposits and progress payments on aircraft purchases, including 46 Boeings it plans to buy by 2025.
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St. Jude patient honored during FedEx St. Jude Championship
This year marked the 10th anniversary of FedEx’s Purple Eagle program, an annual event in which the Memphis-based company honors a St. Jude patient who is also the child or grandchild of a FedEx team member.
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June 2022
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FedEx maps out strategy to increase earnings, operating income
New CEO Raj Subramaniam faces soaring inflation, increasing competition from Amazon and an activist investor demanding shakeups to the board, but plans to grow earnings per share by as much as 19% over the next three years, as well as increase operating income by as much as $4.5 billion.
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FedEx predicts sizable profit growth over next three years
The logistics giant announced Wednesday, June 29, its new “Deliver Today, Innovate for Tomorrow” strategy as investors and analysts gathered in Memphis for the company’s 2022 investor meeting.
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May 2022
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FedEx lends a hand with Operation Fly Formula
The flight from the Ramstein Air Base in Germany to Indiana transported the equivalent of 1.5 million 8-ounce bottles of three formulas, all of which are hypoallergenic for children with cow’s milk protein allergy.
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March 2022
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FedEx Express chief to retire; Richard Smith will take over
Richard W. Smith will become president and CEO-elect of FedEx Express following the announcement Thursday, March 10, that Donald F. Colleran will retire effective Dec. 31, 2022.
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May 2021
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Will workers return as unemployment benefits wane?
Unemployment benefits will soon be dropping in Tennessee. Employers are hoping that will help convince more people to return to work as the economy improves.
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January 2021
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FedEx plans layoffs in Europe
Memphis-based FedEx bought TNT in 2016 and it has taken longer than expected to integrate the company.
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December 2020
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First FedEx deliveries of Moderna vaccine coming Monday
The first truckload of Moderna’s COVID-19 vaccine destined for U.S. administration sites rolled into the FedEx Express world hub in Memphis about 9:45 a.m. Sunday, Dec. 20.
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Moderna vaccine moving Sunday via FedEx
FedEx said Saturday, Dec. 19, it’s ready to start moving the Moderna vaccine for COVID-19.
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FedEx marks milestone in feeder fleet upgrade
FedEx has taken delivery of first of at least 30 purpose-built turboprop air freighters to serve feeder markets around the world. ATR-72 600Fs will be delivered over five years.
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FedEx delivers COVID-19 vaccine to more than 100 locations
FedEx reported at mid-day Monday, Dec. 14, it had delivered COVID-19 vaccines to more than 100 destinations without incident and ahead of schedule.
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FedEx flying high into latest earnings report
FedEx and UPS could gain $100 million to $300 million in new revenue from COVID-19 vaccine distribution in the U.S., a Bank of America research report says. Related article: COVID-19 vaccine moves through Memphis hub
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FedEx expects vaccine shipments to start Sunday
“This is among the most important work in the history of our company, and we’re honored to be a part of the effort to help end this pandemic,” FedEx president and chief operating officer Raj Subramaniam said in a release.
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October 2020
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Roxo the robot cribbing for FedEx’s high-tech future
The third-generation of Roxo the SameDay Bot is “learning a lot” as FedEx prepares to deploy the local delivery robot in future years.
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Sunday delivery, more efficient networks key FedEx peak plan
Henry Maier, president and chief executive officer of Pittsburgh-based FedEx Ground, talks about the COVID-19 package surge and preparations for upcoming holiday peak season during interview with The Daily Memphian.
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FedEx’s air freight boom fuels Memphis airport cargo growth
Memphis International Airport posted a 17.4% increase in cargo volume in September, the third double-digit monthly increase since COVID-19 hit in March.
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September 2020
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FedEx, churches team up on employee shuttles
A faith-based solution for Memphians who don’t have transportation to jobs: FedEx Express partners with churches on shuttle buses during peak season at Memphis world hub.
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FedEx increasing pay, adding shuttles to meet hub demand
Shuttle buses and a pay premium are among FedEx’s plans to adequately staff the FedEx Express world hub in Memphis for upcoming holiday peak season and COVID-19 vaccine distribution.
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FedEx completing ramp expansion in time for peak season
As FedEx prepares for another record holiday peak season and COVID-19 vaccine distribution, more parking space for cargo aircraft is coming online at its Memphis world hub.
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