FedEx News Updates

In the latest of a series of recent worker-status rulings, a federal appeals court upheld a Kansas Supreme Court decision last year that classified about 500 FedEx Ground drivers as employees rather than independent contractors under that state’s law.

FedEx Corp.’s decision to settle a California driver-status case for $228 million likely will trigger more attacks on the independent contractor model nationwide, experts predicted.

FedEx Corp. said net income was $753 million, or $2.66 per share, excluding one-time costs, for its fiscal fourth quarter ended May 31, reflecting stronger results at the Express, Ground and Freight units.

FedEx Corp. reported net income, excluding one-time costs, of $753 million, or $2.66 per share, for its fiscal fourth quarter ending May 31 that included improved results at the Express, Ground and Freight units.

FedEx Corp. has agreed to pay $228 million to settle long-running lawsuits in California that challenged the status of workers at its Ground unit, who are classified as contractors by the company.

FedEx Corp. announced a 25% increase in its dividend to 25 cents per share.

FedEx Corp. said it has retired 15 aircraft and 21 engines and that it recorded a non-cash impairment charge of $246 million in May.

FedEx Corp. said it shouldn’t be prosecuted for delivering drugs dispensed through Internet sales without prescription because its actions are protected under federal law.

FedEx Corp. improved fiscal third-quarter net income by 53% to $580 million, or $2.01 per share, fueled by earnings gains across the Express, Ground and Freight units.

Two of the nation’s largest trucking companies won legal victories in Massachusetts when a U.S. District Court judge overturned two of his earlier decisions on independent contractor cases so they would line up with an appeals court decision.