FedEx Reports Higher Third Quarter Diluted EPS and Announces New Share Repurchase Program

Details

The company reduced its capital spending forecast and authorized a new $5 billion share repurchase program, in addition to the existing $0.6 billion available for repurchase. The third quarter included a $1 billion accelerated share repurchase transaction. Cash on hand as of February 29, 2024, was $5.6 billion.

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About FedEx Corporation

FedEx Corporation is a multinational delivery services company known for its air and ground shipping capacities. Established in 1971, FedEx provides a wide range of logistics services, including express transportation, freight forwarding, and e-commerce solutions to businesses and consumers alike. With a strong focus on innovation and efficiency, FedEx has developed advanced tracking systems and time-definite delivery services, setting standards in the express delivery industry. The corporation operates in various segments such as FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services, each tailored to meet specific logistics needs worldwide. FedEx plays a crucial role in global commerce, facilitating the timely exchange of goods and documents across borders, impacting industries like retail, healthcare, and manufacturing. In a digital age where immediate delivery is paramount, FedEx's infrastructure and expertise make it integral to the supply chain and distribution networks that drive the modern economy.