FedEx cuts earnings outlook for year again, rattles market
By 8 p.m., FedEx shares had fallen $13.80 to $232.41 in after-hours trading on Thursday. Through the close of market, the stock price has fallen 5.3% for the year.
Topic: Raj Subramaniam
RSSThere are 54 article(s) tagged Raj Subramaniam:
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March 2025
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January 2025
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What’s on the road ahead for newly independent FedEx Freight
Analysts say FedEx Freight, worth $30 billion, should be traded against its peers, not locked up inside.
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December 2024
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FedEx sees some gains in face of stubborn economy, other headwinds
The company affirms the value of its savings programs, more than $6 billion through 2027, but downgrades earnings-per-share for the rest of the year.
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September 2024
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Fedex shareholders vote with company, nix independent proposals
Teamsters sought reporting on what FedEx is doing to protect jobs as it moves away from reliance on fossil fuels; United Church Funds wanted the company to align lobbying with climate goals; both failed.
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FedEx admits first quarter tougher than expected in disappointing earnings report
The little good news was that cost-cutting measures FedEx has achieved helped offset the revenue and expense pressure.
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March 2024
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FedEx earnings not great but better than Q2, a sign cuts are working
FedEx had another rocky quarter in an economy that continues to force downward pressure on its network. This time, the company showed gains against stubborn headwinds by the stint of its own cost-cutting.
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December 2023
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In tough Q2 environment, FedEx Express buffeted by winds
FedEx missed Wall Street’s expectations on markers across the board, including earnings per share and operating margin. The street expected an EPS of $4.19 and a margin of 6.6%. FedEx delivered $3.99 and 6.4%.
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September 2023
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Billions in cost-cutting initiatives helped FedEx improve earnings
The company’s net income was $1.08 billion, compared to the $875 million it reported in 2023.
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August 2023
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FedEx CEO to earn a new base salary of more than $1M
The increase will bring Raj Subramaniam’s base salary, first set in 2022 months after he took leadership of the company, from $1.3 million to $1.45 million.
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July 2023
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One member of FedEx board of directors resigns, another won’t run again
V. James Vena, who only served on FedEx’s board for one year, has resigned. Kimberly A. Jabal will not stand for reelection.
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New FedEx CFO will earn an annual salary of $919,000
In addition to his salary, FedEx announced Monday that Dietrich will receive a signing bonus of $200,000, which will be paid in two installments.
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FedEx names new CFO and EVP, announces shifts in its finance team
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FedEx names new CFO and EVP, announces shifts in its finance team
The Memphis-based company announced Monday, July 17, its hiring of John W. Dietrich to the role, which will be vacated by CFO Michael C. Lenz on July 31.
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June 2023
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FedEx shares down as company reports mixed quarter
Revenue for the fourth quarter was a few billion shy compared to the $24.4 billion the company announced in the same quarter of 2022.
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FedEx to consolidate its Canadian Ground and Express operations
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April 2023
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FedEx at 50: As FedEx hits milestone, new executive team has new challenges
The executive leadership team at FedEx — guided by CEO Raj Subramaniam — will have to demonstrate to its stockholders that it is the right team to lead the company out of turbulent waters and into the future.
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One FedEx: ‘Something investors have wanted for 15 years’
Following the announcement that FedEx’s operating companies will consolidate into one organization, the delivery giant’s stock was up by more than 1.2%.
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FedEx pilots protest outside NYSE as company announces operating consolidation
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FedEx to consolidate its operating companies
Expected to be completed in June 2024, the consolidation will bring FedEx Express, FedEx Ground, FedEx Services and other FedEx operating companies into Federal Express Corp.
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March 2023
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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.
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FedEx impacted by market softness but earnings beat expectations
FedEx says continued demand weakness, particularly at FedEx Express, affected its most recent earnings period.
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FedEx CEO appointed to President’s Export Council
The council advises the president on government policies and programs that affect U.S. trade performance and works to promote export expansion.
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February 2023
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FedEx commits more than $1 million to Turkey, Syria earthquake relief
Since the first earthquake on Monday, Feb. 6, FedEx has assisted multiple nonprofit and government organizations that are responding directly to the crisis by utilizing its global trade networks.
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How FedEx is cutting costs by more than $3 billion
FedEx confirmed during the company’s December 2022 earnings release that it will try to cut costs by more than $3 billion throughout the fiscal year.
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FedEx to lay off 10% of officer and director teams
Following two back-to-back quarters that saw FedEx report earnings well below company expectations, the shipping giant has been enacting sweeping cost-cutting initiatives.
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January 2023
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How the Memphis-based public companies spent 2022
Mergers and acquisitions, leadership transitions, uncertain economic conditions, global tensions — local publicly traded companies faced numerous challenges in 2022.
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December 2022
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FedEx plans additional cost cuts
FedEx has identified an additional $1 billion in cost savings beyond its September forecast and now expects to generate savings of $3.7 billion.
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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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