FedEx Corporation (NYSE:FDX) Q3 2018 Earnings Conference Call - Final Transcript

Mar 20, 2018 • 05:00 pm ET


FedEx Corporation (NYSE:FDX) Q3 2018 Earnings Conference Call - Final Transcript


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Good day, everyone, and welcome to the FedEx Corporation Third Quarter Fiscal Year 2018 Earnings Conference Call. Today's call is being recorded. If you have any questions for the conference call, please e-mail them to Only questions submitted by e-mail will be discussed on the call today.

At this time, I will turn the call over to Mickey Foster, Vice President of Investor Relations for FedEx Corporation. Please go ahead.

Mickey Foster

Good afternoon, and welcome to FedEx Corporation's third quarter earnings conference call. Third quarter earnings release, 31-page stat book and earnings presentation slides are on our website at This call and the accompanying slides are being streamed from our website where the replay and slides will be available for about one year. Questions are welcome through our e-mail address, which is When you send your questions, please include your full name and contact information. Preference will be given to inquiries of a long-term, strategic nature.

I want to remind all listeners that FedEx Corporation desires to take advantage of the Safe Harbor provisions of the Private Securities Litigation Reform Act. Certain statements in this conference call such as projections regarding future performance may be considered forward-looking statements within the meaning of the Act. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. For additional information on these factors, please refer to our press releases and filings with the SEC. Please refer to the investor relations portion of our website at for a reconciliation of the non-GAAP financial measures discussed on this call to the most directly comparable GAAP measures.

Joining us on the call today are Fred Smith, Chairman; Dave Bronczek, President and Chief Operating Officer; Alan Graf, Executive VP and CFO; Mark Allen, Executive VP, General Counsel and Secretary; Rob Carter, Executive VP, FedEx Information Services and CIO; Don Colleran, Executive VP, Chief Sales Officer, FedEx Corporation; Raj Subramaniam, Executive VP, Chief Marketing and Communications Officer, FedEx Corporation; David Cunningham, President and CEO of FedEx Express; Henry Maier, President and CEO of FedEx Ground; and Mike Ducker, President and CEO of FedEx Freight.

And, now, Fred Smith will share his views.

Frederick W. Smith

Thank you, Mickey. Welcome to our discussion of third quarter earnings. First and most importantly, by far, we are very thankful there were no serious injuries from the package that was detonated earlier at our San Antonio FedEx Ground facility. FedEx has provided law enforcement extensive evidence from our advanced technology security systems designed to protect the safety of our teammates, our customers and the communities we serve. We continue to assist authorities.

Now moving to the business at hand, and specifically turning to the earnings. Execution of long-term growth strategies, customer demand for the unique value of our broad portfolio of solutions and healthy growth in the global economy are driving our performance. We expect strong operating performance in that regard during the fourth quarter