FedEx Corporation (FDX) Presents at Baird 2022 Global Industrial Conference (Transcript)

FedEx Corporation (NYSE:FDX) Baird 2022 Global Industrial Conference November 8, 2022 2:00 PM ET

Company Participants

Mike Lenz - CFO

Conference Call Participants

Garrett Holland - Baird

Garrett Holland

All right. We'll go ahead and get started. My name is Garrett Holland, senior analyst covering transportation and logistics at Baird. We're thrilled to have FedEx participate in our industrials conference this year. Joining us from the Company, Mike Lenz, Chief Financial Officer. Management is going to review a few opening comments, and then we'll get into some Q&A. So look forward to that.

But right now, I'll turn it over to Mike. Thank you.

Mike Lenz

All right. Well, thanks, Garrett, and thank you, everybody, for joining us here this afternoon. We've certainly spent a great deal of time in the last several weeks, subsequent to our Q1 earnings release, meeting with investors and hearing your perspectives on that and sharing the things we're doing to react to a changed environment for our business and the broader landscape that we operate in.

So if anything, it has absolutely redoubled our urgency and efforts to adapt to change and implement our strategies that we announced and rolled out at our Investor Day that a number of you, I believe, were able to join us for back in June, where we unveiled our Deliver Today, Innovate for Tomorrow strategy. And within that framework was financial targets that we outlined for our fiscal FY '25, so 3-year plan, which was indicative of the evolution of FedEx from nearly 50 years of building and putting together the networks that sustain our competitive differentiation to an era of driving improved efficiencies and returns with better operating margins, lower capital efficiency, improved return on invested capital and increased returns to shareholders.

So while the environment has