secwatch.observer — SEC 8-K summary
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Issuer:     FEDEX CORP (FDX)
CIK:        0001048911
Form:       8-K
Filed at:   2024-03-21T23:59:59+00:00
Accession:  0000950170-24-034726
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FedEx Q3 adjusted EPS $3.86 beats $3.41 YoY; narrows FY guidance, cuts capex to $5.4B
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- Q3 revenue $21.7B (-2% YoY); GAAP operating income $1.24B (+19%), adjusted $1.36B (+16%).
- GAAP diluted EPS $3.51; adjusted $3.86 vs. $3.41 last year, aided by $0.09 from share repurchases.
- FY2024 adjusted EPS outlook narrowed to $17.25-$18.25 (prior $17.00-$18.50); capex cut to $5.4B.
- Board authorized new $5B share repurchase program; $500M additional buyback planned in Q4.
- DRIVE program delivered $1.8B in permanent cost reductions, driving margin expansion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1048911/000095017024034726/0000950170-24-034726-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1048911/000095017024034726/fdx-20240321.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-034726

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer