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FedEx Corp (FDX)

FDX on New York Consolidated

225.07USD
20 Oct 2017
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Latest Key Developments (Source: Significant Developments)

FedEx Freight says NLRB issues order revoking certification of Teamsters union​
Friday, 6 Oct 2017 06:00pm EDT 

Oct 6 (Reuters) - FedEx Freight::NLRB revokes union certification at FedEx Freight terminal.FedEx Freight says National Labor Relations Board (NLRB) has issued an order officially revoking certification of Teamsters union​.  Full Article

FedEx says Hurricanes Harvey and Irma will negatively impact Q2 2018 results - SEC Filing
Wednesday, 20 Sep 2017 04:37pm EDT 

Sept 20 (Reuters) - FedEx Corp :FedEx - While progress has been made on restoration of TNT express operations, TNT express revenues, volumes, profits remain below pre-attack levels‍​.FedEx - Also anticipate effects of Hurricane Harvey and Hurricane Irma will negatively impact second quarter 2018 results - SEC Filing.FedEx Corp says second quarter and full year 2018 results will be negatively affected by TNT express integration and restructuring activities.FedEx - Expect ongoing, but diminishing, financial impacts from cyberattack for remainder of 2018.FedEx - Financial impacts from cyberattack for remainder of 2018 in the form of lower revenues, higher investments related to information technology.  Full Article

FedEx Corp reports Q1 adjusted earnings per share $2.51
Tuesday, 19 Sep 2017 04:15pm EDT 

Sept 19 (Reuters) - Fedex Corp :FedEx Corp reports first quarter earnings.Q1 adjusted earnings per share $2.51.Q1 earnings per share $2.19.Q1 earnings per share view $3.09 -- Thomson Reuters I/B/E/S.Sees FY 2018 earnings per share $11.05 to $11.85 excluding items.FedEx Corp - ‍Reaffirm commitment to improve operating income at FedEx express segment by $1.2 billion to $1.5 billion in fiscal 2020 versus fiscal 2017​.FedEx Corp - Qtrly GAAP revenue ‍​ $15.3 billion versus $14.7 billion.FedEx Corp - ‍Company is lowering its fiscal 2018 forecast due to estimated full-year impacts of TNT Express cyberattack​.FedEx Corp - Q1 FedEx ground segment gaap revenue of $4.64‍​ billion versus $4.29 billion last year.FedEx Corp - Qtrly FedEx freight segment revenue $1.75 billion versus $1.66 billion.FedEx Corp - ‍Capital spending forecast for fiscal 2018 remains $5.9 billion​.FedEx Corp - ‍Impact of cyberattack on TNT Express and lower-than-expected results at FedEx ground reduced our Q1 earnings​.Q1 earnings per share view $3.09, revenue view $15.35 billion -- Thomson Reuters I/B/E/S.FedEx Corp - Q1 FedEx express segment GAAP revenue of $8.65‍​ billion versus $8.46 billion last year.FedEx Corp - "‍Reaffirm our commitment to improve operating income at FedEx express segment by $1.2 billion to $1.5 billion in fiscal 2020 versus fiscal 2017​".FY2018 earnings per share view $13.38 -- Thomson Reuters I/B/E/S.  Full Article

Paulson & Co ups share stake in FedEx
Monday, 14 Aug 2017 05:54pm EDT 

Aug 14 (Reuters) - Paulson & Co::Paulson & Co ups share stake in FedEx Corp by 52.3 percent to 75,400 shares - SEC filing.Change in holdings are as of June 30, 2017 and compared with the previous quarter ended as of March 31, 2017.  Full Article

Fedex board approves performance-based cash award for CFO Alan Graf, Jr.
Thursday, 20 Jul 2017 04:39pm EDT 

July 20 (Reuters) - Fedex Corp :Fedex corp -on july 17, 2017, board approved a performance-based cash award for Alan Graf, Jr., Executive Vice President And Cfo.Fedex corp - to remain eligible for award, Graf must remain Fedex's chief financial officer through end of fiscal 2020 - sec filing.Fedex corp - award has a target value of $574,661 that is tied to achievement of a fiscal 2020 earnings per share goal.Fedex corp - if fiscal 2020 EPS is less than 80% of goal, no cash award will be paid.  Full Article

FedEx says all TNT Express depots, hubs and facilities are operational
Monday, 17 Jul 2017 09:26am EDT 

July 17 (Reuters) - Fedex Corp :FedEx Corp - as of date of 10-K filing, all TNT Express depots, hubs and facilities are operational and most TNT services are available - SEC filing.FedEx - 2018 results will be negatively affected by TNT Express integration, restructuring activities, as well as impact of TNT Express cyber-attack‍​.FedEx Corp - manual processes are being used to facilitate a significant portion of TNT Express operations and customer service functions‍​.FedEx Corp - cannot estimate when TNT Express services will be fully restored.FedEx Corp - still evaluating the financial impact of the cyber attack, but it is likely that it will be material​.FedEx - experienced loss of revenue due to decreased volumes at TNT Express, incremental costs from contingency plans, remediation of affected systems.FedEx - TNT Express integration expected to be completed by the end of 2020.FedEx Corp - TNT ​customers "are still experiencing widespread service delays, including invoicing".FedEx Corp - do not have cyber or other insurance in place that covers TNT cyber attack‍​.FedEx Corp - cyber-attack may also materially impact disclosure controls, procedures, internal control over financial reporting in future periods‍​.FedEx Corp says experienced loss of revenue due to decreased volumes at tnt express -sec filing.FedEx Corp - experienced loss of revenue also due to incremental costs for implementation of contingency plans, remediation of affected systems‍​‍​.  Full Article

Boeing, Fedex Express to collaborate on ecoDemonstrator testing
Thursday, 6 Jul 2017 11:00am EDT 

July 6 (Reuters) - Boeing Co :Boeing, Fedex Express to collaborate on ecoDemonstrator testing.Flight testing is scheduled to last approximately three months before airplane returns to Fedex fleet.Starting in 2018, new Boeing 777 freighter made for Fedex express will test emerging technologies, such as propulsion advancements, flight deck innovations.Rround of ecoDemonstrator testing includes installing a compact thrust reverser developed by Boeing​.  Full Article

FedEx says TNT Express operations disrupted due to infiltration of an information system virus
Wednesday, 28 Jun 2017 12:35pm EDT 

June 28 (Reuters) - FedEx Corp ::TNT express operations disrupted.All other FedEx services operating normally.While TNT Express operations and communications systems have been disrupted, no data breach is known to have occurred.Remediation steps and contingency plans are being implemented as quickly as possible.Worldwide operations of its TNT express subsidiary have been significantly affected due to infiltration of an information system virus.Operations of all other FedEx companies are unaffected and services are being provided under normal terms and conditions.Also experiencing delays in TNT Express inter-continental services at this time.TNT Express domestic country and regional network services are largely operational, but slowed.Cannot measure financial impact of the service disruption at this time, but it could be material.  Full Article

FedEx Q4 adjusted earnings per share $4.25
Tuesday, 20 Jun 2017 04:15pm EDT 

June 20 (Reuters) - Fedex Corp :FedEx Corp. Reports record fourth quarter and full-year earnings.Q4 adjusted earnings per share $4.25.Q4 earnings per share $3.75.Q4 earnings per share view $3.88 -- Thomson Reuters I/B/E/S.Sees fy 2018 earnings per share $12.45 to $13.25 excluding items.FedEx corp - capital spending for fiscal 2018 is expected to be approximately $5.9 billion.Q4 FedEx express segment revenue of $7.18 billion versus $6.72 billion last year.Q4 FedEx ground segment revenue of $4.68 billion versus $4.29 billion last year.FedEx - FY earnings forecast before year-end mtm pension accounting adjustments, excluding tnt express integration expenses, charges, is $13.20 to $14.00 per share.FedEx corp - Q4 gaap revenue $15.7 billion versus $13 billion.FedEx corp - FY forecasts include an estimated $65 million of tnt express intangible asset amortization expense.FedEx corp - Q4 fedex freight segment revenue of $1.70 billion billion versus $1.61 billion last year.FedEx corp - expect to incur significant expenses over next few years in connection with our integration of tnt express.FedEx - is unable to forecast fiscal 2018 year-end mtm pension accounting adjustments; unable to provide fiscal 2018 earnings guidance on gaap basis.Fy2018 earnings per share view $13.59 -- Thomson Reuters I/B/E/S.FedEx Corp - Q4 fiscal 2018 mtm pension accounting adjustments could have a material impact on fiscal 2018 consolidated financial results.  Full Article

FedEx may get involved with Trump's push to privatize airports- CNBC, citing source
Monday, 12 Jun 2017 04:15pm EDT 

June 12 (Reuters) - :FedEx may get involved with Trump's push to privatize airports- CNBC, citing source.  Full Article

BRIEF-FedEx Freight says NLRB issues order revoking certification of Teamsters union​

* FedEx Freight says National Labor Relations Board (NLRB) has issued an order officially revoking certification of Teamsters union​ Source text for Eikon: Further company coverage: