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Top related persons:
Michael Lenz - 2 Priyamvada - 2 Dow Jones - 1 dietrich - 1 michael - 1 lenz - 1 cf3b0c48 - 1 Andrew Kelly - 1
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Bengaluru Manhattan , New York City U.S Memphis Los Angeles
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FedEx - 2 Thomson - 2 fedex - 1 REUTERS - 1 FedEx Corp - 1 Monday - 1 Atlas Air - 1 Atlas Air Worldwide - 1

Search resuls for: "Michael Lenz"


6 mentions found


☆ FedEx Taps John Dietrich as CFO, Succeeds Retiring Michael Lenz
  + stars: | 2023-07-17 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/fedex-taps-john-dietrich-as-cfo-succeeds-retiring-michael-lenz-cf3b0c48
Persons: Dow Jones, dietrich, michael, lenz, cf3b0c48 Organizations: fedex
☆ FedEx appoints new CFO
  + stars: | 2023-07-17 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Signage is seen on a FedEx location in Manhattan, New York City, U.S., September 3, 2021. REUTERS/Andrew KellyJuly 17 (Reuters) - FedEx Corp (FDX.N) on Monday appointed former CEO of Atlas Air Worldwide John Dietrich as chief financial officer, effective Aug. 1. FedEx said Dietrich, a veteran in the aviation and air cargo space, has held numerous leadership roles at Atlas Air Worldwide since 1999. The development comes months after the company outlined $4 billion in permanent cost cuts by the end of its 2025 financial year. Last fiscal year, FedEx slashed about 29,000 jobs, retired 18 planes, shuttered offices and pared back profit-sapping Sunday deliveries.
Persons: Andrew Kelly, John Dietrich, Michael Lenz, Dietrich, Priyamvada, Devika Syamnath Organizations: FedEx, REUTERS, FedEx Corp, Monday, Atlas Air, Atlas Air Worldwide, Thomson Locations: Manhattan , New York City, U.S, Memphis, Bengaluru
☆ FedEx paring costs, grounding more planes as margin pressure persists
  + stars: | 2023-06-20 | by ( ) www.reuters.com   time to read: +2 min
The global shipping downturn has hurt margins for the sector and FedEx's challenge is matching costs and capacity to lower demand. Last fiscal year, FedEx slashed 29,000 jobs, retired 18 planes, shuttered offices and pared back profit-sapping Sunday deliveries in a bid to cut $4 billion in permanent costs by the end of its 2025 financial year. For fiscal 2024, FedEx forecast flat to low-single-digit-percent revenue growth versus the prior year. The company said it would buy back $2 million of its common stock in the new fiscal year. He will remain a senior adviser to the company until Dec 31.
Persons: Raj Subramaniam, Michael Lenz, Priyamvada, Lisa Baertlein, Matthew Lewis, Cynthia Osterman, Jamie Freed Organizations: FedEx, Express, Thomson Locations: Bengaluru, Los Angeles
☆ FedEx raises full-year earnings forecast after cost cuts, shares soar
  + stars: | 2023-03-16 | by ( Lisa Baertlein Kannaki Deka | Lisa Baertlein | Kannaki Deka | ) www.reuters.com   time to read: +3 min
Fedex has been wringing costs from its bloated operations by shuttering offices, cutting jobs, reducing flights, grounding airplanes and canceling profit-sapping Sunday deliveries in far-flung areas. "Our cost actions are taking hold, driving an improved outlook for the current fiscal year," Chief Executive Raj Subramaniam said in a statement. Adjusted income for the fiscal third quarter ended Feb. 28 came in at $865 million, or $3.41 per share. Earnings per share were down $1.18 from the year earlier, but 68 cents higher than analysts' average estimate. FedEx shares jumped 11.3% to $227.12 in after hours trade.
☆ FedEx is frantically cutting billions in costs as its pandemic success evaporates
  + stars: | 2022-12-21 | by ( Emma Cosgrove | ) www.businessinsider.com   time to read: +5 min
This time last year, the company said it had reached a turning point and would achieve a level of profitability not seen since the first rush of pandemic e-commerce packages. FedEx's Ground business, which makes everyday e-commerce deliveries in the US, struggled to a lesser degree. FedEx's operational missteps, combined with ballooning fuel and labor costs, created unrest among Ground delivery contractors and boosted costs across the company. Spencer Patton tried to unite FedEx contractors. A few big-time FedEx contractors have a new plan to boost struggling delivery outfits.
☆ FedEx earnings sink as soft demand persists
  + stars: | 2022-12-20 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +2 min
FedEx said Tuesday that its quarterly earnings and sales fell from a year ago and warned of persistent weak demand, but said its "aggressive" cost-cutting measures were softening the blow. The package delivery giant's net income fell to $788 million in the three months ended Nov. 30, down from $1.04 billion a year earlier. Adjusting for one-time items, FedEx posted per share earnings of $3.18, ahead of analyst estimates but well off the $4.83 a share it reported during the same period of last year. FedEx Ground operating income rose 24% from last year, and FedEx freight operating income increased 32% year over year. FedEx forecast full-year earnings per share of between $13 and $14, just shy of analysts' expectations of $14.08 per share.
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