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Tag: fedex corp

  • Delivery driver charged with the murder of a 7-year-old in Texas faces 3 unrelated sexual assault charges dating back to 2013 | CNN

    Delivery driver charged with the murder of a 7-year-old in Texas faces 3 unrelated sexual assault charges dating back to 2013 | CNN

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    CNN
     — 

    The new sexual assault charges filed against the delivery driver suspected of kidnapping and killing 7-year-old Athena Strand in Texas earlier this month date back to three separate incidents in 2013, charging documents show.

    An investigation by the Fort Worth Police Department determined Tanner Lynn Horner allegedly sexually assaulted children under the age of 17 on three separate occasions in June, August, and December of 2013, according to charging documents filed Wednesday.

    The minor victims were not identified. The charges came out of Tarrant County, records show.

    Horner was arrested earlier this month on capital murder and aggravated kidnapping charges after authorities say he told them he accidentally hit Athena with his vehicle while making a delivery to her home on November 30. Horner allegedly told investigators he put the girl in his van and strangled her because he was scared she would tell someone she was hit by a FedEx truck, according to two arrest warrants obtained by CNN affiliate KTVT.

    Horner, who was already being held on a $1.5 million bond in Wise County jail, now has additional $15,000 surety bonds set against him on each of the three sexual assault charges out of Tarrant County. His initial court appearance is set for January 5, 2023, Tarrant County court records show.

    Wise County Sheriff Lane Akin told CNN the 2013 charges “happened back some time ago” and were separate from the Strand case. Some people have come forward in relation to the 2013 charges following Horner’s arrest, Akin said.

    CNN was not able to determine if Horner has an attorney.

    Strand’s family filed a lawsuit against FedEx and one of its subcontractors this month, accusing them of gross negligence and accusing Horner of assault. The family is seeking more than $1 million in damages from the companies and Horner, according to the suit.

    Horner delivered packages for FedEx Ground but was employed through a subcontractor, Big Topspin, Inc., according to the lawsuit.

    In response to the lawsuit, FedEx said in a statement, “Our thoughts remain with the family of Athena Strand in the wake of this tragedy. We are aware of the complaint filed against FedEx Ground.”

    CNN has previously attempted to reach Big Topspin, Inc. for comment.

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  • Jim Cramer’s Investing Club meeting Wednesday: Santa Claus rally, down-and-out buys, Starbucks call, Sunday Ticket

    Jim Cramer’s Investing Club meeting Wednesday: Santa Claus rally, down-and-out buys, Starbucks call, Sunday Ticket

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  • FedEx’s package volumes keep falling, but it’s still getting more money out of each delivery

    FedEx’s package volumes keep falling, but it’s still getting more money out of each delivery

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    FedEx Corp. on Tuesday said it planned to slash an extra $1 billion in costs beyond what it outlined in September, amid what management called a “weaker demand environment” that led to softer-than-expected sales for its second quarter.

    Still, shares rallied after hours, as investors and analysts focused on the parcel-delivery service’s profit forecast. And the company still managed to squeeze more consumer dollars out of each delivery as package volumes slipped — helped by the surcharges that carriers tack on to bills to offset rising fuel costs.

    The company reported earnings as investors looked for clues about holiday spending in an economy where just about everything is more expensive, and as FedEx
    FDX,
    -2.62%
    prepares to raise shipping prices next month.

    During FedEx’s conference call to discuss its results, executives described an environment where global demand fell further in the second quarter than it did during a particularly harsh first quarter that sank its stock. While they said package volumes, comparatively, would improve later on in the fiscal year, they said they hadn’t seen much of a change in business yet in China, even as the economy there reopens after pandemic-related lockdowns.

    Meanwhile, they said the U.S. was still recalibrating after consumers loaded up on electronics, furniture and other goods bought online during the pandemic.

    “I think the main macro issue in the United States is really the e-commerce reset,” Chief Executive Raj Subramaniam said during the call.

    The extra billion in savings brings FedEx’s total expected cuts to roughly $3.7 billion for the fiscal year, which ends in May. In September, the company announced up to $2.7 billion in cost cuts for the fiscal year ahead as concerns grew about stalled shipping demand in an inflation-scarred economy.

    FedEx also lowered its fiscal 2023 capital spending forecast by $400 million and unveiled a new long-term cost-saving program, called DRIVE, which it hopes will bring more than $4 billion in annualized structural cost savings by fiscal 2025. The company said more details on DRIVE would come during a conference call in the first half of the next calendar year.

    Subramaniam said some of FedEx’s cuts would come from digitization and automation in the U.S. and Europe, and other technology that helps trucks deliver more packages per trailer. FedEx has already grounded jets and reduced flights in its large, internationally-focused Express segment, which offers expedited air and ground deliveries. Cuts elsewhere will come from halting Sunday operations in its ground service, where trucks ship goods in the U.S. and Canada, and closing locations that offer copying and printing services, FedEx said in September.

    Subramaniam on Tuesday also said that service issues that hurt the company’s results in the prior quarter had improved, and that hangups at Charles De Gaulle airport in Paris had been “largely alleviated.”

    For the full year, FedEx forecast earnings per share of $13 to $14. For the full fiscal year, FactSet forecast adjusted earnings of $13.93 a share, with revenue of $94.358 billion.

    “While modestly below consensus at the mid-point . . . our sense is that this is in line with (or maybe a bit better than) buyside expectations,” Stephens analyst Jack Atkins said in a note Tuesday, adding that the outlook included the $3.7 million in reductions.

    “Net, with most investors sitting this quarter out and the company issuing an outlook that was likely better than some feared, we think the stock reacts positively to these results tomorrow,” he continued.

    Shares rose 4.8% in after-hours trade.

    FedEx reported fiscal second-quarter net income of $788 million, or $3.07 a share, compared with $1 billion, or $3.88 a share, in the same quarter last year. Revenue slipped to $22.8 billion, compared with $23.5 billion in the prior-year quarter.

    Adjusted for costs related to “business optimization,” FedEx earned $3.18 a share, compared with $4.83 the same quarter in 2021.

    Analysts polled by FactSet expected FedEx to report adjusted earnings of $2.81 a share on sales of $23.7 billion.

    “The FedEx team moved with urgency to make rapid progress on our ongoing transformation while navigating a weaker demand environment,” Subramaniam said in FedEx’s earnings release. “Our earnings exceeded our expectations in the second quarter, driven by the execution and acceleration of our aggressive cost-reduction plans.”

    Management said that its Express segment suffered a 64% decline in operating income, as global package volumes fell. But yields — or sales per package, and a measure of how high a price FedEx can charge — rose 8%. Higher fuel surcharges helped that yield figure.

    The company’s Ground division, where trucks ship packages in the U.S. and Canada, got a 24% boost in operating income. Cost cuts and a 13% increase in yields helped there, even as package also volumes slipped.

    FedEx stock has fallen 35% this year. By comparison, the S&P 500 Index
    SPX,
    +0.10%
    is down around 19%.

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  • FedEx earnings sink as soft demand persists

    FedEx earnings sink as soft demand persists

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    FedEx Cargo Plane

    Leslie Josephs | CNBC

    FedEx said Tuesday that its quarterly earnings and sales fell from a year ago and warned of ongoing weakened demand, but said its “aggressive” cost-cutting measures were softening the blow.

    The package delivery giant’s net income fell to $788 million in the three months ended Nov. 30 from $1.04 billion a year earlier. Sales fell to $22.8 billion in that period, down from $23.5 billion a year earlier, falling short of estimates.

    Adjusting for one-time items, FedEx posted per share earnings of $3.18, ahead of analyst estimates but below the $4.83 a share it reported during the same period of last year.

    FedEx forecast earnings-per-share of between $13 and $14, shy of analysts’ expectations for $14.08 per share for the fiscal year.

    Here’s how FedEx performed in its fiscal second quarter of 2023 based on Refinitiv consensus estimates:

    • Earnings per share: $3.18 adjusted vs. $2.82 expected
    • Revenue: $22.8 billion vs. $23.74 billion expected

    In September, FedEx announced cost-cutting measures that included parking planes and closing some offices. It also raised package-delivery rates. The company at the time withdrew guidance, and CEO Raj Subramaniam said he expects the economy to enter a “worldwide recession.” 

    “Our teams have an unwavering focus on rapidly implementing cost savings to improve profitability,” FedEx’s CFO Michael Lenz said in an earnings release. “As we look to the second half of our fiscal year, we are accelerating our progress on cost actions, helping to offset continued global volume softness.”

    FedEx shares are down about 36% for the year as of Tuesday’s close, compared with the S&P 500’s roughly 20% decline.

    FedEx executives will hold a call with analysts to discuss results at 5:30 p.m. ET. They are likely to face questions about the global economy, holiday travel demand and reliability, and its costs for the coming year.

    This is breaking news. Check back for updates.

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  • FedEx driver charged in 7-year-old Athena Strand’s death delivered her Christmas present before abducting her, mother says | CNN

    FedEx driver charged in 7-year-old Athena Strand’s death delivered her Christmas present before abducting her, mother says | CNN

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    CNN
     — 

    The FedEx driver accused of kidnapping and killing 7-year-old Athena Strand delivered her Christmas present –Barbie dolls – before the girl’s disappearance, her mother said Thursday.

    Maitlyn Gandy called for stricter screening policies for delivery drivers at a news conference.

    On an easel beside her was the package, a box of “You can be anything” Barbie dolls. It was the first time she’d seen the present, she said.

    “Athena was robbed (of) the opportunity to be anything she wanted to be,” a tearful Gandy said. “I was robbed of watching her grow up, by a man that everyone was supposed to be able to trust to do just one simple task – deliver a Christmas present and leave.”

    Athena disappeared from the driveway of her home in Wise County, Texas, on November 30. After a county-wide search, her body was recovered Friday evening, according to Wise County Sheriff Lane Akin. Authorities believe she was killed within an hour of her alleged kidnapping, but her cause of death is still under investigation, Akin said Friday.

    The suspect, identified by authorities as a contract driver for FedEx, is 31-year-old Tanner Lynn Horner, Akin said. He allegedly delivered a package to Athena’s father’s home when she disappeared, authorities said.

    Horner is being held in Wise County jail on capital murder and aggravated kidnapping charges, according to its website. Bond was set at $1.5 million, Akin said. CNN has repeatedly tried to locate an attorney for Horner, to no avail.

    Horner told investigators he had accidentally hit Athena as he was backing up his delivery truck and although she was not seriously injured, he panicked and put her in the van before allegedly killing her, according to two arrest warrants obtained by CNN affiliate KTVT.

    According to the warrants, one issued for each charge, Horner told authorities that he strangled the child because “she was going to tell her father about being hit by the Fed Ex truck.”

    Horner was tracked down by his employer, a subcontractor of FedEx, after authorities learned Athena went missing around the time a FedEx delivery was made to the home, according to the warrants. Surveillance video from the truck showed the child inside, talking to the driver, according to the warrants.

    After he was questioned, Horner led investigators to the child’s body and surrendered without incident, according to a warrant.

    Akin, the sheriff, did not respond to CNN’s messages Thursday afternoon.

    Authorities said Horner did not know the family or the child, Akin previously said.

    Gandy said her goal is to affect change in hiring policies “so that monsters wearing delivery uniforms don’t show up on our children’s doorsteps.”

    Her attorney Benson Varghese said he is still in the “investigation phase” of Athena’s case. Varghese said his office has put people they “think might be responsible” on notice, asking them to preserve any evidence related to the investigation.

    Varghese said he plans to hold any person or corporation accountable “whose actions or inactions could have prevented this little girl’s tragic death,” but said he is not in a rush to file a lawsuit.

    “The ultimate goal here is to ensure that no parent, or grandparent, or family member feels the loss that Maitlyn’s going through right now,” Varghese said.

    In a statement to CNN last week, FedEx expressed its sympathies and directed further questions to law enforcement.

    “Words cannot describe our shock and sorrow at the reports surrounding this tragic event. First and foremost, our thoughts are with the family during this most difficult time, and we continue to cooperate fully with the investigating authorities,” the statement reads.

    Earlier this week, several school districts across Texas wore pink in honor of Athena.

    Gandy, who appeared at Thursday’s news conference sporting bright pink hair, said she was grateful for the community’s outpouring of love and support.

    “I have felt your prayers, I have read your messages and your letters and I see your pink everywhere.”

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  • FedEx driver is arrested in the kidnapping and killing of a 7-year-old girl who went missing outside her home this week, police say | CNN

    FedEx driver is arrested in the kidnapping and killing of a 7-year-old girl who went missing outside her home this week, police say | CNN

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    CNN
     — 

    A driver working for FedEx was arrested and charged Friday in the kidnapping and killing of a 7-year-old girl who had disappeared from her home’s driveway in Texas earlier this week, police said.

    Athena Strand’s body was recovered Friday evening, Wise County Sheriff Lane Akin said at a news conference.

    “It hurts our hearts to know that child died,” Akin said Friday.

    “It’s one of the toughest investigations that I’ve been involved in because it’s a child. And anytime there’s a child that dies, it just hits you in your heart,” he said.

    Athena was reported missing Wednesday and authorities launched a search for her across Wise County, located northwest of Fort Worth. Authorities believe the young girl was killed within an hour after her kidnapping from her family’s driveway, which is about 200 yards from her home.

    Tanner Lynn Horner, 31, is being held in Wise County jail on capital murder and aggravated kidnapping charges, according to its website. Bond was set at $1.5 million, Akin said. It was unclear whether Horner had an attorney Friday.

    Horner, identified by authorities as a contract driver for FedEx, was allegedly making a delivery to Athena’s home at the time she disappeared.

    Earlier Friday, police say they received a tip that helped investigators determine Horner abducted the child from her driveway.

    Strand’s mother, Maitlyn Presley Gandy, said her daughter was taken from her by “a sick, cruel monster for absolutely no reason,” she wrote in a Facebook post on Saturday morning.

    “I cannot describe the pain and absolute anger I feel. Missing her doesn’t cover how I feel,” Gandy said in the post accompanying a video of Athena, then age 3. “I want the world to know my baby, my first baby, my first true love, the reason I breathe.”

    “Athena is innocent, beautiful, kind, intelligent, and just the brightest, happiest soul you could ever meet. I don’t want her to be the girl known as the one murdered and discarded by a monster,” she added. “I want everyone to know, every single person in this world, that this is my baby and my baby was taken from me. I want everyone to know her face and her voice and just how wonderful of a person she is.”

    Athena will be remembered for so much, like her dream of growing up to be a Viking princess with tattoos just like her dad’s, how much she loved her two little sisters, and her love for anything pink, her mother wrote.

    Authorities did not indicate a possible motive and said Horner did not know the family or the child, according to Akin.

    Athena’s cause of death remains under investigation and her body was transferred to the medical examiner’s office Friday, Akin said.

    Gandy shared another Facebook post dedicated to thanking “the hundreds if not thousands of volunteers” and the authorities who helped look for her daughter.

    “As a mother, I know no one is as broken as I am…” she wrote, adding that the official agencies who assisted in the investigation “have all cried with me.”

    “It takes a special kind of person and whether a child is yours or not, working crime scenes involving children are hard,” she added. “Thank you for finding my baby. I know everyone wishes this would have ended differently.”

    In a statement to CNN, FedEx expressed its sympathies and directed further questions to law enforcement.

    “Words cannot describe our shock and sorrow at the reports surrounding this tragic event. First and foremost, our thoughts are with the family during this most difficult time, and we continue to cooperate fully with the investigating authorities,” the statement reads.

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