---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-048991"
form_type: "8-K"
ticker: "FDX"
cik: "0001048911"
company_name: "FEDEX CORP"
filed_at: "2023-09-20T23:59:59+00:00"
generated_at: "2026-06-10T11:43:01.972651+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# FedEx Q1 adjusted EPS $4.55 beats prior year; raises FY2024 adjusted outlook to $17.00-$18.50

## Summary
- Q1 GAAP EPS $4.23, adjusted $4.55 vs $3.44 adjusted a year ago; revenue $21.7B, down 6% YoY.
- FedEx Ground operating income +59% YoY; Express +18%; Freight -26% with 29 terminal closures.
- FY2024 adjusted EPS outlook raised to $17.00-$18.50 (prior $16.50-$18.50); revenue now expected flat YoY.
- Completed $500M ASR (1.95M shares); plans additional $1.5B buyback in FY2024.
- Cash on hand $7.1B; DRIVE program targeting $1.8B in permanent cost reductions.

## SEC filing metadata
- accession: 0000950170-23-048991
- form_type: 8-K
- ticker: FDX
- cik: 0001048911
- company_name: FEDEX CORP
- filed_at: 2023-09-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1048911/000095017023048991/0000950170-23-048991-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1048911/000095017023048991/fdx-20230920.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-048991
- JSON: https://secwatch.observer/filing/0000950170-23-048991.json
- Plain text: https://secwatch.observer/filing/0000950170-23-048991.txt

## Key facts
- Earnings Releases
  FEDEX CORP reported the first quarter ended August 31 results: revenue $21.7 billion, net income $1.08 billion, EPS $4.23. Guidance raised.
  - Period: the first quarter ended August 31
  - Revenue: $21.7 billion
  - Net income: $1.08 billion
  - EPS: $4.23
  - Guidance: raised
  - Result: reported results
  source text: exclude the items listed below for the applicable fiscal year): Fiscal 2024 Fiscal 2023 As Reported (GAAP) Adjusted (non-GAAP) As Reported (GAAP) Adjusted (non-GAAP) Revenue $21.7 billion $21.7 billion $23.2 billion $23.2 billion Operating income $1.49 billion $1.59 billion $1.19 billion $1.23 billion Operating margin 6.8% 7.3% 5.1% 5.3% Net income $1.08 billion
  evidence_url: https://www.sec.gov/Archives/edgar/data/1048911/000095017023048991/0000950170-23-048991-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.