FedEx completes consolidation of Ground and Services into Federal Express, recasts FY2024 results

FEDEX CORP

Effective June 1, 2024, FedEx merged FedEx Ground and FedEx Services into Federal Express under the 'one FedEx' plan.
FedEx Freight remains a separate subsidiary; FedEx Custom Critical will move to Freight segment from fiscal 2025.
Recast financials show FY2024 total revenue $87.7B, operating income $5.56B, and net income $4.33B.
FY2024 diluted EPS rose to $17.41 from $15.60 in FY2023.
Business optimization costs totaled $582M in FY2024, including $218M in Q4, due to consolidation.

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