Key Developments: FedEx Corp (FDX)
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23 May 2013
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Latest Key Developments (Source: Significant Developments)
FedEx Corp's Subsidiary Signs New $10.5 Billion Contract With USPS -Reuters
Reuters reported that FedEx Corp said its FedEx Express subsidiary has entered into a seven-year express air transportation contract with the United States Postal Service for about $10.5 billion. FedEx's current contract ends in September 2013, and the new contract will begin in October 2013. Full Article
FedEx Corp Issues Q4 EPS Guidance In Line With Analysts' Estimates; Lowers FY EPS 2013 Guidance
FedEx Corp announced that for fourth quarter of 2013, it expects adjusted diluted earnings per share (EPS) in the range of $1.90-$2.10. For fiscal 2013, it expects EPS in the range of $6.00 to $6.20. Including the business realignment costs, earnings are expected to be $0.94 to $1.34 per diluted share for fourth quarter of 2013 and $4.91 to $5.31 per diluted share for fiscal 2013. The guidance assumes the current market outlook for fuel prices. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $2.07 for fourth quarter of 2013 and EPS of $6.31 for fiscal 2013. Full Article
FedEx Corp Declares Quarterly Dividend
FedEx Corp announced that it has declared a quarterly cash dividend of $0.14 per share on FedEx Corporation common stock. The dividend is payable April 1, 2013 to stockholders of record at the close of business on March 11, 2013. Full Article
Boeing Co And FedEx Corp's FedEx Express Announce Order For Four 767 Freighters
Boeing Co and FedEx Express, a wholly owned subsidiary of FedEx Corp., announced an order for four 767 Freighters. The order is part of FedEx's initiative to modernize its fleet. The addition of the 767 Freighters will enable FedEx to replace its less efficient medium widebody cargo airplanes with freighters that provide fuel, maintenance and other cost savings. The freighters also increase efficiency by sharing spare parts, tooling and flight simulators with the Boeing 757s that are part of the FedEx air fleet. The addition of the 767 Freighters will enable FedEx to replace its less efficient medium widebody cargo airplanes with freighters that provide fuel, maintenance and other cost savings. The freighters also increase efficiency by sharing spare parts, tooling and flight simulators with the Boeing 757s that are part of the FedEx air fleet. Full Article
FedEx Corp Issues Q3 2013 EPS Guidance In Line With Analysts' Estimates; Reaffirms FY 2013 EPS Guidance
FedEx Corp announced that for third quarter of 2013, it expects earnings per share (EPS) to be in the range of $1.25-$1.45 and EPS of $6.20-$6.60 for fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $1.45 for third quarter of 2013 and EPS of $6.39 for fiscal 2013. Full Article
FedEx Corp Declares Quarterly Dividend
FedEx Corp announced that it has declared a quarterly cash dividend of $0.14 per share on FedEx Corporation common stock. The dividend is payable December 17, 2012 to stockholders of record at the close of business on November 21, 2012. Full Article
FedEx Corp To Cut Thousands From Workforce-Business Standard
Business Standard reported that FedEx Corp said that it was planning to cut 'several thousand' people from its workforce via a voluntary departure programme beginning early next year. The Company gave no specific number on the staff reductions, but emphasised they would be voluntary. Full Article
FedEx Corp Reaffirms Q2, FY 2013 EPS Guidance
FedEx Corp reaffirmed second quarter 2013 and fiscal 2013 earnings guidance. For second quarter of 2012, it expect earnings per share (EPS) in the range of $1.30 to $1.45 per diluted share and EPS of $6.20 to $6.60 for fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $1.41 for second quarter of 2013 and EPS of $6.45 for fiscal 2013. Full Article
FedEx Corp Issues Q2 2013 EPS Guidance Below Analysts' Estimates; Lowers FY 2013 EPS Guidance-Conference Call
FedEx Corp announced that for the second quarter of 2013, it expects EPS of $1.30-$1.45 and for fiscal 2013, diluted EPS of $6.20-$6.60. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $1.61 for the second quarter of 2013; EPS of $6.94 for fiscal 2013. Full Article
FedEx Corp Lowers Q1 2013 EPS Guidance
FedEx Corp announced that for the first quarter of 2013, it expects earnings to be in the range of $1.37 to $1.43 per diluted share. The Company's original first quarter forecast was for earnings of $1.45 to $1.60 per diluted share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $1.56 for the first quarter of 2013. Full Article
FedEx signs new $10.5 billion contract with USPS
- FedEx Corp said its FedEx Express subsidiary has entered into a seven-year express air transportation contract with the United States Postal Service for about $10.5 billion.
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