FedEx said total revenue for fiscal 2024 (year ended May 31) was $87,693 million, lower than the $90,155 million reported for fiscal 2023, while operating income was $5,559 million and net income was $4,331 million.

1. 01

   FedEx said total revenue for fiscal 2024 (year ended May 31) was $87,693 million, lower than the $90,155 million reported for fiscal 2023, while operating income was $5,559 million and net income was $4,331 million.

2. 02

   The company said diluted earnings per share for fiscal 2024 were $17.21 (fiscal 2023: $15.48), and operating margin was 6.3% (fiscal 2023: 5.4%).

3. 03

   The company said fiscal 2024 operating expenses included $582 million in business optimization strategy costs tied to the strategy it announced in 2023, and $157 million in asset impairment charges at the Federal Express segment related to its decision to permanently retire certain aircraft and related engines.

4. 04

   The company said FedEx Ground and FedEx Services were merged into Federal Express on June 1, 2024, and that Federal Express and FedEx Freight will become its reportable segments beginning in the Q1 of fiscal 2025. The filing presents fiscal 2024 and fiscal 2023 results recast to reflect this structure.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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