![]() ![]() With annual revenue of $84 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. We expect continued strong momentum in fiscal 2022, and our investments are focused on the areas of greatest growth and highest returns, like e-commerce, to position us for sustained long-term growth in earnings, cash flows, and returns.”įedEx Corp. “For fiscal 2021, we delivered record financial results while also recognizing the valuable contributions by our team members. executive vice president and chief financial officer. ![]() “The ongoing execution of our strategic initiatives has driven significant improvement in our fourth quarter results and highlights the continued strength of our business,” said Michael C. FedEx’s ETR and earnings per share forecasts are based on current law and related regulations and guidance. industrial production and global trade, no additional COVID-19-related business restrictions, and current fuel price expectations. These forecasts assume continued recovery in U.S. Strategic initiatives include accelerated capacity expansion, fleet and facility modernization, and increased automation. Capital spending of $7.2 billion, with continued investment in the key strategic priorities of e-commerce, operational excellence and efficiency.ETR of approximately 24% prior to the MTM retirement plan accounting adjustments and.Earnings per diluted share of $20.50 to $21.50 before the MTM retirement plan accounting adjustments and excluding estimated TNT Express integration expenses and costs associated with business realignment activities.Earnings per diluted share of $18.90 to $19.90 before the MTM retirement plan accounting adjustments.As a result, FedEx is unable to provide a fiscal 2022 earnings per share or effective tax rate (ETR) outlook on a GAAP basis. Operating results improved primarily due to the continued focus on revenue quality and profitable growth.įedEx is unable to forecast the fiscal 2022 mark-to-market (MTM) retirement plan accounting adjustments. This improvement was partially offset by higher expenses driven by constrained labor availability.įedEx Freight reported record earnings and operating margin of 16.1% for the quarter, as average daily shipments grew 30% and revenue per shipment increased 6%. Operating margin improved 310 basis points to 13.6% due to strong revenue growth and slower growth in purchased transportation expenses, aided by a higher mix of business-to-business shipments and benefits from dynamic route optimization technology. The revenue increase was primarily driven by strong growth in business-to-business shipments and a 14% rise in revenue per package. Operating margin increased 260 basis points (an adjusted 340 basis points adjusted measures exclude the items listed below for the applicable fiscal year), as improved network optimization and asset utilization enabled profit growth from record fourth quarter volume.įedEx Ground reported record earnings for the quarter and revenue growth of 27%. ![]() Net results include a loss on debt extinguishment of $393 million ($297 million net of tax).įedEx Express fourth quarter operating income more than doubled year over year, driven by exceptional growth in international export and U.S. These factors were partially offset by costs to support strong demand, increased variable compensation expense, and higher labor rates. I am optimistic about the future of FedEx as we continue to innovate for our customers and meet strong demand for our global transportation network and capabilities.”įourth quarter operating results increased primarily due to volume growth and disciplined revenue and portfolio management. “We continue to play an important role in global economic recovery and the delivery of COVID-19 vaccines and relief supplies throughout the U.S., Canada and more than 35 other countries. “I thank our team members around the world for their outstanding efforts during this extraordinary year,” said Frederick W. Policy on limitation of severance benefits.Policy on recoupment of incentive compensation for fraud or willful misconduct.Policy on recoupment of incentive compensation. ![]()
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