secwatch.observer — SEC 8-K summary
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Issuer:     FEDEX CORP (FDX)
CIK:        0001048911
Form:       8-K
Filed at:   2024-09-03T23:59:59+00:00
Accession:  0000950170-24-102826
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1048911/000095017024102826/0000950170-24-102826-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1048911/000095017024102826/fdx-20240903.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-102826

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