FedEx Corporation Conference Call Summary Company Overview - **Company**: FedEx Corporation (NYSE: FDX) - **Event**: Citi 2023 Global Industrial Tech and Mobility Conference - **Date**: February 21, 2023 - **Participants**: Raj Subramaniam (President and CEO), Mike Lenz (CFO) Key Points Industry and Company Performance - FedEx achieved pre-pandemic service levels during the peak season, with Ground delivering 31% of total volume early and improving transit times by 2 days compared to the previous year [4][5] - FedEx Express service levels improved by over 4 percentage points for U.S. domestic overnight and global services compared to fiscal 2022 [5] - The company managed to reduce flight hours by 12% during peak season while delivering 13.2 million packages [6] Cost Reduction Initiatives - FedEx accelerated fiscal year 2023 cost actions, increasing the target for cost savings to $1 billion, with an additional $4 billion targeted by fiscal year 2025 [4][10] - Organizational changes were made to streamline reporting structures, reducing the officer and director team size by over 10% [7] - The DRIVE program focuses on 14 domains for efficiency improvements, targeting cost savings across FedEx Express, FedEx Ground, and shared overhead expenses [8] Capital Allocation and Financial Goals - FedEx aims to lower capital intensity from 7.2% of revenue to 6.5% or lower by fiscal year 2025 [9] - The fiscal year 2023 capital spend forecast was reduced by $400 million to $5.9 billion, reflecting a $900 million reduction from initial plans due to lower demand [10] - A $1.5 billion accelerated share repurchase program was completed, with a target of $2.7 billion in capital return for fiscal year 2023 [10] Future Outlook and Strategic Initiatives - FedEx is committed to a structural transformation to improve profitability and efficiency, with a focus on agility and flexibility in operations [18][31] - The company is exploring opportunities to optimize networks, especially for residential deliveries, in response to the shift in e-commerce dynamics [25] - The new Express U.S. network design aims to enhance efficiency by reorienting the system to accommodate changing traffic profiles [39] Competitive Landscape - FedEx is focused on capturing profitable customer segments, including small and medium businesses, healthcare, and high-value verticals, while differentiating from competitors like Amazon [56] - The company is rationalizing its operations in Europe to improve service levels and capitalize on market opportunities [63] Additional Insights - FedEx is implementing a labor insights platform to better manage staffing levels in alignment with volume demands [27] - The company is addressing volatility in the Express segment by enhancing flexibility and reducing fixed costs [30][32] Conclusion - FedEx is affirming its fiscal 2023 outlook while executing on cost-saving initiatives and strategic transformations aimed at long-term profitability and operational efficiency [11]

FedEx Corporation (NYSE:FDX) Q2 2023 Results Conference Call December 21, 2022 5:30 PM ET Company Participants Mickey Foster - Vice President, Investor Relations Raj Subramaniam - President and Chief Executive Officer Mike Lenz - Executive Vice President and Chief Financial Officer Brie Carere - Executive Vice President and Chief Customer Officer Conference Call Participants Tom Wadewitz - UBS Helane Becker - Cowen and Company Jordan Alliger - Goldman Sachs Ken Hoexter - Bank of America Scott Group - Wolfe ...

FedEx Corporation (NYSE:FDX) Baird 2022 Global Industrial Conference November 8, 2022 2:00 PM ET Company Participants Mike Lenz - CFO Conference Call Participants Garrett Holland - Baird Garrett Holland All right. We'll go ahead and get started. My name is Garrett Holland, senior analyst covering transportation and logistics at Baird. We're thrilled to have FedEx participate in our industrials conference this year. Joining us from the Company, Mike Lenz, Chief Financial Officer. Management is going to revie ...

FedEx Corporation (NYSE:FDX) Q1 2023 Earnings Conference Call September 22, 2022 5:30 PM ET Company Participants Mickey Foster - Vice President, Investor Relations Raj Subramaniam - President and Chief Executive Officer Mike Lenz - Executive Vice President and Chief Financial Officer Brie Carere - Executive Vice President and Chief Customer Officer Conference Call Participants Tom Wadewitz - UBS Brian Ossenbeck - JPMorgan Brandon Oglenski - Barclays Jordan Alliger - Goldman Sachs Helane Becker - Cowen Chris ...

FedEx Corporation (Exact Name of Registrant as Specified in its Charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 1-15829 | --- | --- | |--------------------------------------|---- ...

FedEx Corporation (NYSE:FDX) Q4 2022 Earnings Conference Call June 23, 2022 5:00 PM ET Corporate Participants Mickey Foster - Vice President of Investor Relations Raj Subramaniam - President and Chief Executive Officer Brie Carere - Executive Vice President and Chief Customer Officer Mike Lenz - Executive Vice President and Chief Financial Officer Conference Call Participants Brandon Oglenski - Barclays Jack Atkins - Stephens Chris Wetherbee - Citi Amit Mehrotra - Deutsche Bank Tom Wadewitz - UBS Jon Chappe ...

FedEx Corporation (NYSE:FDX) Q3 2022 Earnings Conference Call March 17, 2022 5:30 PM ET Company Participants Mickey Foster - Vice President of Investor Relations Raj Subramaniam - President and Chief Operating Officer Brie Carere - Executive Vice President, Chief Marketing and Communications Officer Mike Lenz - Executive Vice President and Chief Financial Officer Conference Call Participants Amit Mehrotra - Deutsche Bank Jack Atkins - Stephens Inc. Thomas Wadewitz - UBS Jordan Alliger - Goldman Sachs Chr ...