Following the announcement of its earnings report, FedEx Corporation (NYSE: FDX) experienced a notable rise in its share price during the after-market session on Tuesday. FDX stock surged by 13.89%, reaching $292.00 on the US stock charts, following an almost stable close during the regular session.
Financial Performance And DRIVE Program
For the fourth quarter ending May 31, FedEx (FDX) reported a modest revenue increase, climbing from $21.9 billion the previous year to $22.1 billion this year. Both operating income and margin showed improvement, a result of reduced structural costs as the company continued to implement its DRIVE program. Despite a difficult revenue environment, FedEx achieved notable progress in fiscal 2024, concluding the year with four consecutive quarters of growing operating income and margin.
These outcomes, which are noteworthy given the state of the economy, demonstrate FedEx’s continuous implementation of its DRIVE programs and its dedication to modernizing the business while offering top-notch customer care. FedEx plans to keep up this momentum through the 2025 fiscal year as it works to create the most adaptable, intelligent, and efficient network possible.
FedEx Small Business Grants Program
In addition to its financial performance, FedEx just revealed the winners of its 12th FedEx Small Business Grants Program. Out of approximately 3,900 submissions, 10 U.S.-based enterprises were chosen this year. The $50,000 main award went to Greenville, Rhode Island-based Bombi, while $20,000 went to nine other firms. FedEx is dedicated to giving small and medium-sized business owners the tools they need to succeed by giving them access to essential resources.
In addition, each grant recipient gets a $300 My FedEx Rewards voucher, a $500 print credit at FedEx Office, access to FedEx Premier Customer Care, a packaging consultation from the FedEx Packaging Lab, a digital and technology consultation from the FedEx Digital Sales Solutions team, a feature on the FedEx Small Business Center, and an invitation to attend a Small Business Strategic Insights Forum.
Nearly 80,000 companies have applied to the program in the US over the last twelve years, and FedEx has given out more than $2 million in grant money and printing credits overall since the program’s launch.
