secwatch.observer — SEC 8-K summary
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Issuer:     FEDEX CORP (FDX)
CIK:        0001048911
Form:       8-K
Filed at:   2023-09-20T23:59:59+00:00
Accession:  0000950170-23-048991
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1048911/000095017023048991/0000950170-23-048991-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1048911/000095017023048991/fdx-20230920.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-048991

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