SA: FedEx due to outline billions in cost savings, ups dividend

© Alexey Novikov

SEEKING ALPHA reports:

FedEx Corp (NYSE:FDX) is set to offer details on its plans to reduce costs by billions of dollars in a DRIVE Program Update on Wednesday.

The program is aimed to cut $4B by the close of 2025 and is a key focus for Raj Subramaniam, who acceded to the role of CEO in 2022. 

“We are right sizing our cost base to match today’s realities and creating a more efficient and agile network,” Subramaniam told analysts in March. “We’re not simply taking out cost, we are simultaneously focused on running our business more efficiently, flexibly and profitably, which will create significant value for our stockholders in the years to come.”

The full post is here.

Also worth a look: “FedEx hikes quarterly dividend by 10% to $1.26“.