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Share Name | Share Symbol | Market | Type |
---|---|---|---|
FedEx Corp | NYSE:FDX | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-1.38 | -0.53% | 260.65 | 265.57 | 259.845 | 263.50 | 1,085,245 | 01:00:00 |
By Will Feuer
FedEx Corp. outlined a slate of new 2025 financial targets as recently named Chief Executive Raj Subramaniam lays out his vision for the company.
Mr. Subramaniam, who took over June 1 as CEO from co-founder Fred Smith, is expected to share more details Wednesday at an investor meeting. Mr. Smith remains the company's executive chairman and one of its largest shareholders.
"Our strategy is focused on driving yields, expanding margins, and elevating returns through profitable growth and capital efficiency. We have tremendous momentum and a committed leadership team focused on delivering today, while innovating for tomorrow," Mr. Subramaniam said in a statement.
The company said it is targeting 4% to 6% compound annual revenue growth through fiscal 2025, with an 18% to 22% annualized shareholder return over that same period.
FedEx is also aiming for a compound annual growth rate for adjusted earnings of 14% to 19% through fiscal 2025, and an adjusted dividend payout ratio of at least 25%. The company is targeting fiscal 2025 adjusted operating income improvement of $3 billion to $4.5 billion compared with fiscal 2022 adjusted operating income.
Shares rose 1% in premarket trading to $242.50 a share. The stock is down 7% so far this year, outperforming the S&P 500's nearly 20% decline over the same period.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
June 29, 2022 08:24 ET (12:24 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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