FedEx Files 8-K on Exit Costs and Financials

TL;DR

FedEx filed an 8-K for exit costs and financials - watch for impacts.

AI Summary

FedEx Corporation filed an 8-K on June 12, 2024, to report on cost-associated exit or disposal activities and to file financial statements and exhibits. The filing does not contain specific dollar amounts or dates related to these activities, but it serves as a notification of these events and the submission of required financial documentation.

Why It Matters

This filing indicates FedEx is undergoing restructuring or divesting certain operations, which could impact future financial performance and operational scope.

Risk Assessment

Risk Level: medium — The filing mentions 'Cost Associated with Exit or Disposal Activities,' which can signal significant operational changes or financial charges that may affect the company's future performance.

Key Players & Entities

• FedEx Corporation (company) — Registrant
• FDX CORP (company) — Former company name

FAQ

Key Financial Figures

• $0.10 — ich registered Common Stock, par value $0.10 per share FDX New York Stock Exchan
• $250 million — r and related to the plan to range from $250 million to $375 million in cash expenditures. T
• $375 million — the plan to range from $250 million to $375 million in cash expenditures. These charges are
• $125 million — ect savings from the plan to be between $125 million and $175 million on an annualized basis
• $175 million — the plan to be between $125 million and $175 million on an annualized basis beginning in fis

Filing Documents

• d811276d8k.htm (8-K) — 36KB
• d811276dex991.htm (EX-99.1) — 6KB
• 0001193125-24-159578.txt ( ) — 222KB
• fdx-20240612.xsd (EX-101.SCH) — 5KB
• fdx-20240612_def.xml (EX-101.DEF) — 14KB
• fdx-20240612_lab.xml (EX-101.LAB) — 24KB
• fdx-20240612_pre.xml (EX-101.PRE) — 15KB
• d811276d8k_htm.xml (XML) — 10KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS. Certain statements in this Current Report on Form 8-K, such as statements relating to FedEx's and FEC's estimates of pre-tax cash expenditures and savings as a result of the workforce reduction plan and the timeline for completion, may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include those preceded by, followed by or that include the words "will," "may," "could," "would," "should," "believe," "expected," "anticipated," "plans," "estimates," "targets," "projects," "intends" or similar expressions. 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. Potential risks and uncertainties include, but are not limited to, the ability of FEC to receive works council approvals, the disruption of ongoing business, the ability of FEC to achieve the expected benefits from the workforce reduction, and other factors which can be found in FedEx's and FEC's press releases and FedEx's filings with the U.S. Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. FedEx and FEC 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. SECTION 9. FINANCIAL STATEMENTS AND EXHIBITS. Item9.01.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press release dated June 12, 2024. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FedEx Corporation Date: June 12, 2024 By: /s/ Guy M. Erwin II Name: Guy M. Erwin II Title: Corporate Vice President – Chief Accounting Officer