FedEx Corporation (NYSE:FDX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On April 23, 2013, FedEx Corporation’s wholly owned subsidiary Federal Express Corporation (“FedEx Express”) entered into a seven-year transportation agreement (the “Agreement”) with the United States Postal Service (the “USPS”) under which FedEx Express provides airport-to-airport transportation of USPS Priority Mail Express and Priority Mail within the United States. On February 22, 2017, the parties entered into an amendment to the Agreement whereby the initial renewal period provided in the Agreement was exercised in part and the Agreement’s period of performance was extended through September 29, 2024. The amended Agreement is expected to generate approximately $1.5 billion per year in revenue for FedEx Express over its term, which began on October 1, 2013, and ends on September 29, 2024. A copy of the amended Agreement will be filed as an exhibit to FedEx’s quarterly report on Form 10-Q for the quarter ending February 28, 2017.
Certain statements in this report, including the above statement regarding expected revenues from the amended Agreement, are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to future events and financial performance. These forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated (expressed or implied) by such forward-looking statements, because of, among other things, the risks and uncertainties you can find in our press releases and other SEC filings, including the risk factors identified under the heading “Risk Factors” in “Management’s Discussion and Analysis of Results of Operations and Financial Condition” in our most recent annual report on Form 10-K, as updated by our quarterly reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About FedEx Corporation (NYSE:FDX)
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services. The FedEx Express segment offers a range of the United States domestic and international shipping services for delivery of packages and freight. TNT Express segment collects, transports and delivers documents, parcels and freight on a day-definite or time-definite basis. The FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services. The FedEx Freight segment offers less-than-truckload (LTL) freight services. The FedEx Services segment provides its other companies with sales, marketing, information technology, communications, customer service and other back-office support. FedEx Corporation (NYSE:FDX) Recent Trading Information
FedEx Corporation (NYSE:FDX) closed its last trading session up +1.93 at 193.11 with 1,806,466 shares trading hands.