fedex annual report 2020

With annual revenues of $70 billion, the company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. xref Get the latest news for investors, including earnings releases, articles on innovation, special announcements and more. More than 475,000 team members power the global FedEx network and they are central to the company’s success. 0000003787 00000 n As required by Securities and Exchange Commission rules, the tables below present a reconciliation of our presented non-GAAP financial measures to the most directly comparable GAAP measures. The company announced in early 2020 that it started construction on electronic DC (direct current) charging stations through an agreement with Chanje Energy Inc. See “Risk Factors” and “Forward-Looking Statements” on pages 85-96 of the fiscal 2019 FedEx Corporation Annual Report on Form 10-K, included herein, for a discussion of potential risks and uncertainties that could materially affect our future performance. ���H��~�&��K�8�6�M� +rIP�6y�~�WN9Q�40Ś�*H_��~̌~���OHV�d%�Yy��2�$(��B"Mj����M��}�ߪ�����cUo7pS���gx��j�E�@Z�ab&%����k��%��b�!�j�eu�.�7�^���Z4�8X 2 ANNUAL REPORT 2019 Challenge. MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX) today reported the following consolidated results for the first quarter ended August 31 (adjusted measures exclude TNT Express integration expenses as described below): This year’s and last year’s quarterly consolidated results have been adjusted for TNT Express integration expenses of $71 million ($0.21 per diluted share) for this year and $121 million ($0.36 per diluted share) for last year. 0000082244 00000 n We are unable to predict the amount of the year-end MTM retirement plan accounting adjustment, as it is significantly impacted by changes in interest rates and the financial markets, so such adjustment is not included in our fiscal 2020 EPS and ETR forecasts. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. Effect of “total other (expense) income” on net income amount not shown. These forecasts assume moderate U.S. economic growth, the company’s current fuel price expectations, no further weakening in international economic conditions from the company’s current forecast and no additional adverse developments in international trade policies and relations. share, and adjusted fourth quarter and adjusted full-year fiscal 2020 and 2019 FedEx Express segment operating income and margin. The financial section of this release is provided on the company's website at investors.fedex.com. Download the latest FedEx annual reports to get a birds-eye view of our growth and innovation. FedEx also expanded the company’s retail networks to give customers more options. The information that we post on our Investor Relations website could be deemed to be material information. RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES Additional information and operating data are contained in the company’s annual report, Form 10-K, Form 10-Qs, Form 8-Ks, Statistical Books and supplemental first quarter fiscal 2020 earnings release conference call slides. “Our performance continues to be negatively impacted by a weakening global macro environment driven by increasing trade tensions and policy uncertainty,” said Frederick W. Smith, FedEx Corp. chairman and chief executive officer. Welcome to FedEx.com - Select your location to find services for shipping your package, package tracking, shipping rates, and tools to support shippers and small businesses To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com. Investor Contact: Mickey Foster 901-818-7468 FedEx continued to make progress toward its environmental goals using the company’s Reduce, Replace, Revolutionize strategy. Innovation. In fiscal year 2020, FedEx passed a new marker — more than 500,000 employees worldwide. %%EOF 71 30 The meeting will be a virtual meeting hosted by Broadridge Investor Communication Solutions, Inc. You may attend the meeting by logging into www.virtualshareholdermeeting.com/FDX2020 beginning at 7:45 a.m. Central Time on Monday, September 21, 2020. Internal salaries and employee benefits are included only to the extent the individuals are assigned full-time to integration activities. These financial measures have been adjusted to exclude the impact of TNT Express integration expenses incurred in fiscal 2020 and 2019. Highlights from this year’s report include: Economy: Multiplying Growth for our Business and Society. That’s why FedEx strives to provide a safe and inclusive workplace, development opportunities that enable people to realize their full potential, and innovative benefits that help team members maintain health and well-being. We have provided these non-GAAP financial measures for the same reasons that were outlined above for historical non-GAAP measures. The FedEx Corporation 2020 Annual Meeting of Stockholders will be held Monday, September 21, 2020, beginning at 8:00 a.m. Central Time. At FedEx, we promise to treat your data with respect and will not share your information with any third party. FedEx is also supporting United Way Mumbai and job readiness programs in India and Injaz Al-Arab in the UAE, a member of Junior Achievement Worldwide, with their school-based Innovation Camps, designed to develop the business leaders and entrepreneurs of the future. In 2019, FedEx surpassed its citizenship goal set in 2016, to invest $200 million in 200 global communities by 2020. The integration expenses are predominantly incremental costs directly associated with the integration of TNT Express, including professional and legal fees, salaries and employee benefits, travel and advertising expenses. Income taxes are based on the company’s approximate statutory tax rates applicable to each transaction. These materials, as well as a webcast of the earnings release conference call to be held at 5:30 p.m. EDT on September 17, are available on the company’s website at investors.fedex.com. 0000001589 00000 n These financial measures have been adjusted to exclude the impact of the following items (as applicable): The fiscal 2020 and 2019 year-end MTM retirement plan accounting startxref TO GAAP FINANCIAL MEASURES, First Quarter Fiscal 2020 and Fiscal 2019 Results. 0000003285 00000 n In October 2019, FedEx Express welcomed Roxo™ on its first international appearance in Dubai, United Arab Emirates, and announced that Dubai Airports would join its U.A.E Customer Advisory Board, focusing on the collaboration to develop a device to meet business needs in the United Arab Emirates. As e-commerce continues to grow, FedEx is exploring alternative ways to deliver. Postal Service; the impact of any international conflicts or terrorist activities; our ability to quickly and effectively restore operations following adverse weather or a localized disaster or disturbance in a key geography; and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the SEC. As previously announced, effective January 6, 2020, FedEx Express, FedEx Ground and FedEx Home Delivery shipping rates will increase by an average of 4.9%, while FedEx Freight shipping rates will increase by an average of 5.9%. <<94C21DB6DEAE724984B4B70440E0B863>]/Prev 278429>> Any forward-looking statement speaks only as of the date on which it is made. Income statements, balance sheets, cash flow statements and key ratios. FedEx is lowering its fiscal 2020 earnings forecast as the company’s revenue outlook has been reduced due to increased trade tensions and additional weakening of global economic conditions since the company’s initial fiscal 2020 forecast in June. FedEx is unable to forecast the fiscal 2020 year-end mark-to-market (MTM) retirement plan accounting adjustment. 0000001749 00000 n Media Contact: Jenny Robertson 901-434-4829 0000000016 00000 n 0000052509 00000 n With networks that link more than 99% of the world’s gross domestic product, FedEx connects people with goods, services and ideas in ways that strengthen the company’s business, while creating opportunities and positive impacts for society. For example, RoxoTM the FedEx SameDay BotTM holds promise for safely delivering smaller shipments to customers’ homes and businesses, and is entirely electric — using only batteries that produce zero localized emissions. Nearing the end of Project RENEWAL. FEDEX CORPORATION 20 20 ANNUAL REPORT 2020 Annual Report. “However, we are continuing to make strategic investments to improve our capabilities and efficiency, which we expect will drive long-term increases in earnings, margins, cash flows and returns.”. These forecasts do not include potential costs associated with capacity reductions. The fiscal 2020 year-end MTM retirement plan accounting adjustment is excluded from our fiscal 2020 EPS and ETR forecasts, as applicable, because it is unrelated to our core operating performance and to assist investors with assessing trends in our underlying businesses.

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