FedEx 10-Q: Q2 2025 Financials & Share Repurchases
Ticker: FDX · Form: 10-Q · Filed: 2024-12-19T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, share-repurchase
TL;DR
FedEx Q2 2025 10-Q is in: financials look steady, share buybacks continue.
AI Summary
FedEx Corp. filed its 10-Q for the period ending November 30, 2024, reporting on its financial performance. The filing details various financial segments and activities, including package and freight revenue, and mentions a repurchase program initiated on June 1, 2023. Specific financial data points such as Accumulated Other Comprehensive Income and Additional Paid-In Capital are also provided for different reporting periods.
Why It Matters
This filing provides investors with an update on FedEx's financial health and operational performance, crucial for understanding the company's current standing and future prospects in the logistics industry.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Numbers
- Q2 2025 — Fiscal Quarter (Reporting period for this 10-Q filing.)
- 2024-11-30 — Reporting Period End Date (The end date for the financial data presented in this filing.)
- 2023-06-01 — Repurchase Program Start Date (Indicates the commencement of FedEx's share repurchase program.)
Key Players & Entities
- FEDEX CORP (company) — Filer
- 0000950170-24-138460 (other) — Accession Number
- 20241130 (date) — Period of Report
- 20241219 (date) — Filing Date
- 0001048911 (other) — Central Index Key
- FDX (company) — Former Company Name
- 2023-06-01 (date) — Repurchase Program Start Date
- 2023-11-30 (date) — Reporting Period End Date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is November 30, 2024.
When was the share repurchase program initiated?
The share repurchase program was initiated on June 1, 2023.
What is FedEx's Central Index Key (CIK)?
FedEx's Central Index Key (CIK) is 0001048911.
What was FedEx's former company name?
FedEx's former company name was FDX CORP.
What is the fiscal year end for FedEx?
FedEx's fiscal year ends on May 31.
Filing Stats: 4,481 words · 18 min read · ~15 pages · Grade level 13.5 · Accepted 2024-12-19 16:15:26
Key Financial Figures
- $0.10 — ch registered Common Stock, par value $0.10 per share FDX New York Stock Exchan
Filing Documents
- fdx-20241130.htm (10-Q) — 3423KB
- fdx-ex3_1.htm (EX-3.1) — 26KB
- fdx-ex10_1.htm (EX-10.1) — 37KB
- fdx-ex15_1.htm (EX-15.1) — 9KB
- fdx-ex22.htm (EX-22) — 24KB
- fdx-ex31_1.htm (EX-31.1) — 14KB
- fdx-ex31_2.htm (EX-31.2) — 14KB
- fdx-ex32_1.htm (EX-32.1) — 6KB
- fdx-ex32_2.htm (EX-32.2) — 7KB
- img167656048_0.jpg (GRAPHIC) — 80KB
- img167656048_1.jpg (GRAPHIC) — 76KB
- fdx-ex10_1i0.jpg (GRAPHIC) — 3KB
- fdx-ex10_1i1.jpg (GRAPHIC) — 3KB
- 0000950170-24-138460.txt ( ) — 11470KB
- fdx-20241130.xsd (EX-101.SCH) — 1161KB
- fdx-20241130_htm.xml (XML) — 2184KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
ITEM 1. Financial Statements Condensed Consolidated Balance Sheets November 30, 2024 and May 31, 2024 3 Condensed Consolidated Statements of Income Three and Six Months Ended November 30, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income Three and Six Months Ended November 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows Six Months Ended November 30, 2024 and 2023 7 Condensed Consolidated Statements of Changes In Common Stockholders' Investment Three and Six Months Ended November 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9 Report of Independent Registered Public Accounting Firm 20
Management's Discussion and Analysis of Results of Operations and Financial Condition
ITEM 2. Management's Discussion and Analysis of Results of Operations and Financial Condition 21
Quantitative and Qualitative Disclosures About Market Risk
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 40
Controls and Procedures
ITEM 4. Controls and Procedures 41
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
ITEM 1. Legal Proceedings 41
Risk Factors
ITEM 1A. Risk Factors 41
Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 44
Other Information
ITEM 5. Other Information 44
Exhibits
ITEM 6. Exhibits 46 Signature 47 - 2 - FEDEX CORPORATION CONDENSED CONSOLIDA TED BALANCE SHEETS (IN MILLIONS) November 30, 2024 (Unaudited) May 31, 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 5,029 $ 6,501 Receivables, less allowances of $ 702 and $ 775 10,737 10,087 Spare parts, supplies, and fuel, less allowances of $ 293 and $ 288 620 614 Prepaid expenses and other 1,335 1,005 Total current assets 17,721 18,207 PROPERTY AND EQUIPMENT, AT COST 85,658 84,391 Less accumulated depreciation and amortization 44,652 42,900 Net property and equipment 41,006 41,491 OTHER LONG-TERM ASSETS Operating lease right-of-use assets, net 16,821 17,115 Goodwill 6,290 6,423 Other assets 3,643 3,771 Total other long-term assets 26,754 27,309 $ 85,481 $ 87,007 The accompanying notes are an integral part of these condensed consolidated financial statements. - 3 - FEDEX CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (IN MILLIONS, EXCEPT SHARE DATA) November 30, 2024 (Unaudited) May 31, 2024 LIABILITIES AND COMMON STOCKHOLDERS' INVESTMENT CURRENT LIABILITIES Current portion of long-term debt $ 592 $ 68 Accrued salaries and employee benefits 2,710 2,673 Accounts payable 3,896 3,189 Operating lease liabilities 2,536 2,463 Accrued expenses 4,658 4,962 Total current liabilities 14,392 13,355 LONG-TERM DEBT, LESS CURRENT PORTION 19,433 20,135 OTHER LONG-TERM LIABILITIES Deferred income taxes 4,436 4,482 Pension, postretirement healthcare, and other benefit obligations 1,571 2,010 Self-insurance accruals 3,825 3,701 Operating lease liabilities 14,713 15,053 Other liabilities 651 689 Total other long-term liabilities 25,196 25,935 COMMITMENTS AND CONTINGENCIES COMMON STOCKHOLDERS' INVESTMENT Common stock, $ 0.10 par value; 800 million shares authorized; 318 million shar