company FDX - SteadyBase

steadybase-$ company FDX

account_id none on file

legal_name Fedex Corp

ticker FDX

cik 1048911

domain fedex.com

linkedin_company_url https://www.linkedin.com/company/fedex

entry_point_account_id none on file

name FedEx Corporation

exchange NYSE

sector Consumer Discretionary

hq Memphis, TN, United States

irhttps://investor.fedex.com/home/default.aspx

sector index/company/sector/consumer-discretionary/

calls 14 filings 60 executives 21 family 0

why_nownone on file

calls

For further context, we expect Q3 revenue to be essentially in line with Q2 with flight increases sequentially in operating expense due to increased peak demand and higher costs due to the MD-11 grounding.

Dec 18, 2025 / receipt, needs a key / John Smith, CEO | earnings call 2025-12-18 | transcript 2d10e3f9-b956-466b-9b29-351d93f452f5 | chars 25199-25404 | segment 26

In Q2, we decreased total U.S. domestic flight hours 24%, largely due to the 60% reduction in daytime flight hours that Raj mentioned due to the expiration of the postal service contract.

Dec 19, 2024 / receipt, needs a key / John Smith, CFO | earnings call 2024-12-19 | transcript 0a641217-a6d7-47ee-9e0e-680644a873c6 | chars 28245-28432 | segment 29

Across our air network and international operations, our drive initiatives are helping offset pressures with about $115 million in total cost reductions in Q2 primarily driven by structural flight takedowns.

Dec 19, 2023 / receipt, needs a key / Raj Subramaniam, CEO | earnings call 2023-12-19 | transcript d8038f49-90fc-417d-b21c-14b0e62185f6 | chars 5470-5677 | segment 5

Just curious on flight. uh if you kind of frame the answer in where you were a year ago where you are now and where you anticipate being in in a in a quarter or two with regard to taking out flights trans-pacific transatlantic asia europe um if we could just get an update on that uh for what you've done and what may come going forward thanks Scott, you know, look, as Raj mentioned, flight hours were down 12% in the fourth quarter, which is greater than the volume decline. So we've taken significant flying out of the network. We've said that that was anticipated once the supply-demand constraints were eased. And so that is the decision to then retire because we continue to reduce the trans-Pacific and trans-Atlantic flying to match demand, and we'll continue to lean into that, as well as utilizing the flexibility of capacity in the market.

Jun 20, 2023 / receipt, needs a key / Scott Schneeberger, other | earnings call 2023-06-20 | transcript 3916e4d0-7e64-4f09-ab3a-4a2150bdbefe | chars 46929-47779 | segment 48

This quarter, we reduced flight hours by 8% and salary and benefit expenses by 4%. We also parked an additional nine aircraft, downgaged on certain routes, and implemented various productivity improvements.

Mar 16, 2023 / receipt, needs a key / Raj Subramanian, CEO | earnings call 2023-03-16 | transcript e46a2c16-2380-443c-8a01-7a86318acda4 | chars 7845-8051 | segment 7

As part of these reductions, we will manage capacity to lower demand levels, including further reducing flight hours at express and reducing Sunday operations, closing certain sort operations, and taking other line haul expense actions at ground.

Mar 16, 2023 / receipt, needs a key / Mike Lenz, CFO | earnings call 2023-03-16 | transcript e46a2c16-2380-443c-8a01-7a86318acda4 | chars 20483-20729 | segment 21

Express is where we have the most work to do and where the majority of the reductions are focused. A large portion of those savings is coming from reduced flight frequencies.

Dec 20, 2022 / receipt, needs a key / Mike Lenz, CFO | earnings call 2022-12-20 | transcript f0b46236-38c0-48e4-8a33-eed3c8fb96fa | chars 17232-17406 | segment 17

So Brandon, let me first, thanks for the kind comments regarding Jeff and Elizabeth. We will certainly miss both of them. Let me get a little more context about the 3.7 billion reduction. You know, I appreciate that's reference to our plans coming into 23. And the purpose of that was to illustrate the scope and magnitude of the cost initiatives that we have undertaken to address the change circumstances from where we started the year. So highlighted, we have a billion dollars of the permanent reductions in a demand environment as we are today. Much of the structure, the flight takedowns that we have made at Express, you wouldn't see those coming back. I think you may recall we said there will always be, anticipate that there will be cyclical ups and downs, but as we come out of the uh current circumstances when it comes back it would come back in a different way and we would be using less of our own purple tail lift and more of partner lift in order to flow traffic in the most efficient manner possible so uh you know again the four billion of drive think about that in the context of uh a greater emphasis on cost reduction rather than the degree of modest revenue growth we were assuming back in June when we outlined the goals for FY25. So that's what the focus is there to that structural cost reduction across a range of demand scenarios that you could envision.

Dec 20, 2022 / receipt, needs a key / Mike, other | earnings call 2022-12-20 | transcript f0b46236-38c0-48e4-8a33-eed3c8fb96fa | chars 31060-32442 | segment 31

Taking each key contributor in turn, at FedEx Express, we expect to drive $1.5 to $1.7 billion in savings this fiscal year. The largest single expected contributor in fiscal 23 will be the changes we are making to our express air network as we cut global flight hours.

Sep 22, 2022 / receipt, needs a key / Raj Subramaniam, CEO | earnings call 2022-09-22 | transcript f7b815f5-43a1-463d-8c67-011b378c6a85 | chars 3988-4256 | segment 4

A great example of where we are going to lower our cost to serve is in Europe. The integrated network and consolidation of many flights into our Charles de Gaulle hub allows us to improve operational efficiency and enhances our network. For instance, since April, the number of European airports we service from CDG increased by 71%, while the number of flights intra-Europe was reduced by 13%.

Jun 23, 2022 / receipt, needs a key / Raj Shumanian, CEO | earnings call 2022-06-23 | transcript db2f0715-f958-4008-ac8b-398e35f9cdc0 | chars 6104-6498 | segment 6

In addition, crew costs per flight hour have been further elevated as operating the network has had to accommodate not only COVID protocols, but also to the routing changes to avoid layovers and locations with stricter COVID regulations, as well as conflict airspace.

Jun 23, 2022 / receipt, needs a key / Mike Lenz, CFO | earnings call 2022-06-23 | transcript db2f0715-f958-4008-ac8b-398e35f9cdc0 | chars 15791-16058 | segment 15

Our expanded collaboration across operating companies will drive cost benefits, lower delivery and line haul costs, and better utilization of existing assets. Said differently, we'll utilize our air and ground networks in a smarter, more calculated manner. FedEx Freight trucks have traveled 4 million miles while operating on behalf of FedEx Ground this year. FedEx Freight has also provided FedEx Ground with intermodal containers, which have already been dispatched nearly 50,000 times. We will continue to look comprehensively at all assets in our network, including stations, hubs, and equipment to put the right package in the right network at the best service for our customers.

Dec 16, 2021 / receipt, needs a key / Raj Subramanian, CEO | earnings call 2021-12-16 | transcript 0b437693-dd66-4958-8129-6c4f9e2fa51d | chars 6899-7584 | segment 7

filings

Consolidates sort facilities, reduces handoffs, and improves speed and service