Earnings release
Page 1
FedEx® FedEx Corp. Reports Higher Second Quarter Operating Income Operating Income of $ 1.6 Billion , Up 9 % Year Over Year ; Up 11 % on an Adjusted Basis New $ 5 Billion Share Repurchase Program Authorized , Including $ 1.5 Billion Accelerated Share Repurchase Program MEMPHIS , Tenn . , December 16 , 2021 ... FedEx Corp. ( NYSE : FDX ) today reported financial results for the quarter ended November 30 . " Our operating income increased during the quarter , thanks to the enormous efforts of our team members . We are nearing the finish line of another robust peak shipping season , and we salute our more than 600,000 team members worldwide for their dedication in delivering the lidays to our customers , " said Frederick W. Smith FedEx Corp. chairman and chief executive officer . FedEx reported ( adjusted measures exclude the items listed below for the applicable fiscal year ) : Revenue Operating income Operating margin Fiscal 2022 Net income Diluted EPS As Reported ( GAAP ) $ 23.5 billion Adjusted ( non - GAAP ) $ 20.6 billion $ 1.51 billion 7.4 % $ 1.60 billion 6.8 % $ 1.04 billion $ 3.88 $ 1.30 billion $ 4.83 This year's and last year's quarterly consolidated results have been adjusted for : Fiscal 2021 Impact per diluted share Mark - to - market ( MTM ) retirement Adjusted ( non - GAAP ) plans accounting adjustments Business realignment costs TNT Express integration expenses $ 23.5 billion $ 1.68 billion 7.1 % $ 1.30 billion $ 4.83 - more $ 1 Fiscal 2021 As Reported ( GAAP ) $ 20.6 billion $ 1.47 billion 7.1 % $ 1.23 billion $ 4.55 Fiscal 2022 0.73 0.13 0.10 0.15 " FedEx operating income grew in our second quarter , driven by strong revenue growth and effective management of our cost and expected labor availability challenges , " said Michael C. Lenz , FedEx Corp. executive vice president and chief financial officer . " While adjusted earnings per share was unchanged year over year , this year's effective tax rate was significantly higher , as last year's earnings included a $ 0.71 per share tax benefit . " 0.13