FEDEX CORP
For the period ended Feb 28, 2025. Filed Mar 20, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Feb 28, 2025 · Filed Mar 20, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
FOR THE QUARTERLY PERIOD ENDED February 28,2025
OR
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
FOR THE TRANSITION PERIOD FROM TO__________
Commission File Number:1-15829
FedEx Corporation
(Exact name of registrant as specified in its charter)
| Delaware | 62-1721435 |
|---|---|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification No.) |
| 942 South Shady Grove Road, Memphis, Tennessee | 38120 |
| (Address of principal executive offices) | (ZIP Code) |
Registrant’s telephone number, including area code: (901)818-7500
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.10 per share | FDX | New York Stock Exchange |
| 0.450% Notes due 2025 | FDX 25A | New York Stock Exchange |
| 1.625% Notes due 2027 | FDX 27 | New York Stock Exchange |
| 0.450% Notes due 2029 | FDX 29A | New York Stock Exchange |
| 1.300% Notes due 2031 | FDX 31 | New York Stock Exchange |
| 0.950% Notes due 2033 | FDX 33 | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☑ | Accelerated filer ☐ | Non-accelerated filer ☐ | Smaller reporting company ☐ | Emerging growth company ☐ |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
| Common Stock | Outstanding Shares at March 18, 2025 |
|---|---|
| Common Stock, par value $0.10 per share | 239,598,919 |
INDEX
| PAGE | |
|---|---|
| PART I. FINANCIAL INFORMATION | |
| ITEM 1. Financial Statements | |
| Condensed Consolidated Balance SheetsFebruary 28, 2025 and May 31, 2024 | 3 |
| Condensed Consolidated Statements of IncomeThree and Nine Months Ended February 28, 2025 and February 29, 2024 | 5 |
| Condensed Consolidated Statements of Comprehensive IncomeThree and Nine Months Ended February 28, 2025 and February 29, 2024 | 6 |
| Condensed Consolidated Statements of Cash FlowsNine Months Ended February 28, 2025 and February 29, 2024 | 7 |
| Condensed Consolidated Statements of Changes In Common Stockholders’ InvestmentThree and Nine Months Ended February 28, 2025 and February 29, 2024 | 8 |
| Notes to Condensed Consolidated Financial Statements | 9 |
| Report of Independent Registered Public Accounting Firm | 20 |
| ITEM 2. Management’s Discussion and Analysis of Results of Operations and Financial Condition | 21 |
| ITEM 3. Quantitative and Qualitative Disclosures About Market Risk | 41 |
| ITEM 4. Controls and Procedures | 42 |
| PART II. OTHER INFORMATION | |
| ITEM 1. Legal Proceedings | 42 |
| ITEM 1A. Risk Factors | 42 |
| ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds | 45 |
| ITEM 5. Other Information | 45 |
| ITEM 6. Exhibits | 46 |
| Signature | 49 |
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