“FedEx is implementing additional cost-reduction initiatives to mitigate the effects of macroeconomic uncertainty, including post-peak reductions to the global FedEx Express air network to better match capacity with demand,” said Alan B. Graf, Jr., FedEx Corp. executive vice president and chief financial officer. Middle East, Indian Subcontinent, and Africa. FedEx’s ETR and earnings per share outlooks are based on the company’s current interpretations of the Tax Cuts and Jobs Act (TCJA) and related regulations and guidance, and are subject to change based on future guidance, as well as FedEx’s ability to defend its interpretations. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and evaluating the company’s and each business segment’s ongoing performance. In addition, the FedEx ETR is now expected to be 24% to 26% before the year-end MTM retirement plan accounting adjustment, due to lower-than-expected earnings in certain non-U.S. jurisdictions. The integration expenses also include any restructuring charges at TNT Express. > The FedEx Annual Report to Stockholders for the fiscal year ended May 31, 2020. The 12th annual report includes updates on the progress of the company’s citizenship goals in FY19, which ended May 31, 2019, and focuses on how the company connects the global economy through innovative technologies, pioneering approaches and customer-facing solutions. 0000002775 00000 n Dubai, U.A.E., May 14, 2020 — FedEx Corp. (NYSE: FDX) announced the online release of its 2020 Global Citizenship Report (GCR), which details the company’s corporate social responsibility strategies, goals, programs and progress. These expenses, including restructuring charges, were recognized at FedEx Corporate and FedEx Express. Building the network for what’s next To our shareowners, In last year’s letter, I described fiscal year 2019 as a year of challenge and change with more to come in fiscal FedEx Express also provides transportation and delivery for the USPS’s international delivery service called Global Express Guaranteed under a separate agreement. 0000001409 00000 n In FY19 the company continued investing in its people, providing an average of 38 hours of formal training per employee and contributing a total of $15 million in tuition assistance to more than 7,500 employees. 0000001749 00000 n xref “This report demonstrates how we put our CSR strategy to work using our global reach and purpose-driven mission,” said Mitch Jackson, chief sustainability officer, FedEx Corp.  “It shows how we connect the world responsibly and resourcefully and is an example of how we will continue to do that while providing support on a global scale during these unprecedented times.”. These financial measures have been adjusted to exclude the impact of the following items (as applicable): The fiscal 2020 and 2019 year-end MTM retirement plan accounting FedEx Corp. (NYSE: FDX) announced today the online release of its 2020 Global Citizenship Report (GCR), which details the company’s corporate social r The company invested more than $62 million in corporate charitable contributions as part of FedEx Cares in FY19. 0000013081 00000 n 100 0 obj <>stream Change. Certain statements in this press release may be considered forward-looking statements, such as statements relating to management’s views with respect to future events and financial performance. 0000000016 00000 n 0000001589 00000 n Our fiscal 2020 earnings per share (EPS) forecast is a non-GAAP financial measure because it excludes the fiscal 2020 year-end mark-to-market (MTM) retirement plan accounting adjustment and estimated fiscal 2020 TNT Express integration expenses. 0000007768 00000 n Download the latest FedEx annual reports to get a birds-eye view of our growth and innovation. The FedEx Corporation 2020 Annual Meeting of Stockholders will be held Monday, September 21, 2020, beginning at 8:00 a.m. Central Time. Innovation. Pricing 71 30 That’s why FedEx strives to provide a safe and inclusive workplace, development opportunities that enable people to realize their full potential, and innovative benefits that help team members maintain health and well-being. The table included below titled “Fiscal 2020 Earnings Per Share Forecast” outlines the impacts of the items that are excluded from our fiscal 2020 EPS forecast, other than the year-end MTM retirement plan accounting adjustment. Change. In 2019, FedEx also marked the first scheduled residential delivery via drone in the U.S. through the company’s collaboration with Wing, again, with zero emissions. We believe these adjusted financial measures facilitate analysis and comparisons of our ongoing business operations because they exclude items that may not be indicative of, or are unrelated to, the company’s and our business segments’ core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. FedEx now forecasts earnings of $10.00 to $12.00 per diluted share before the year-end MTM retirement plan accounting adjustment, and earnings of $11.00 to $13.00 per diluted share before the year-end MTM retirement plan accounting adjustment and excluding TNT Express integration expenses. Additional information and operating data are contained in the company’s annual report, Form 10-K, Form 10-Qs, Form 8-Ks, Statistical Books and supplemental first quarter fiscal 2020 earnings release conference call slides. The strategy focuses on reducing impacts and improving productivity while creating new, more efficient and innovative solutions. The company announced in early 2020 that it started construction on electronic DC (direct current) charging stations through an agreement with Chanje Energy Inc. share, and adjusted fourth quarter and adjusted full-year fiscal 2020 and 2019 FedEx Express segment operating income and margin. We have adjusted our first quarter fiscal 2020 and 2019 consolidated financial measures to exclude TNT Express integration expenses because we generally would not incur such expenses as part of our continuing operations. FedEx also expanded the company’s retail networks to give customers more options. Dubai, U.A.E., May 14, 2020 — FedEx Corp. (NYSE: FDX) announced the online release of its 2020 Global Citizenship Report (GCR), which details the company’s corporate social responsibility strategies, goals, programs and progress. Media Contact: Jenny Robertson 901-434-4829 0000007494 00000 n Estimated fiscal 2020 TNT Express integration expenses are excluded from our fiscal 2020 EPS forecast for the same reasons described above for historical non-GAAP measures. FEDEX CORPORATION 20 20 ANNUAL REPORT 2020 Annual Report. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. “However, we are continuing to make strategic investments to improve our capabilities and efficiency, which we expect will drive long-term increases in earnings, margins, cash flows and returns.”. 0000010934 00000 n We are unable to predict the amount of the year-end MTM retirement plan accounting adjustment, as it is significantly impacted by changes in interest rates and the financial markets, so such adjustment is not included in our fiscal 2020 EPS and ETR forecasts. Details related to these and additional changes to rates and surcharges are available at fedex.com/rates2020. Home Page: fedex.com. 0000002301 00000 n Get the latest news for investors, including earnings releases, articles on innovation, special announcements and more. As e-commerce continues to grow, FedEx is exploring alternative ways to deliver. In FY19, FedEx Express and Boeing completed innovative formation flight tests that confirm the potential for reducing fuel consumption by flying in the wingtip vortex of the lead aircraft, also known as “wake surfing.” It could potentially reduce fuel consumption by up to 10%. 0000082244 00000 n Income taxes are based on the company’s approximate statutory tax rates applicable to each transaction. 0000006103 00000 n ��vתѨ��'�A�څi��vv���?� �˒\��]���W�)�@���擷�f/�������2���i�����㥿x���������`O"'U����2s)u���Ҫ�a����X����7�`�U��WT�ɔ�K,p�C^���n�Jz�*��?N�l�C٧��7���'�`��K�妡^�lܭY�щ���L�1�Њ����V�� �D�7��W���� 7��{��S��")"T��0��Sq�E��Gĉ���;�e~�*|"��s;�D�l7=��4M�����WA�>�A�Y��c�"�y_n���8%�i+H��U���ؑ��2 �Z[��~D_�ƭW�qGb�W�. The FedEx Corporation 2020 Annual Meeting of Stockholders will be held Monday, September 21, 2020, beginning at 8:00 a.m. Central Time. FedEx continued to remain on the cutting edge of fleet electrification. Any forward-looking statement speaks only as of the date on which it is made. As a result, the company is unable to provide a fiscal 2020 earnings per share or effective tax rate (ETR) outlook on a GAAP basis. 0000011761 00000 n Income statements, balance sheets, cash flow statements and key ratios. By the end of 2020, customers will be able to pick up or drop off FedEx packages at approximately 94,000 sites globally, including various grocery stores and pharmacies, FedEx Office locations and FedEx drop boxes. 0000010028 00000 n Welcome to FedEx.com - Select your location to find services for shipping your package, package tracking, shipping rates, and tools to support shippers and small businesses