English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

FedEx Q1 results hit by TNT cyberattack

MEMPHIS/MIAMI: September 20, 2017. FedEx Corporation has reported adjusted first quarter (Q1) revenue of US$15.3 billion, up from US$14.7 billion year-on-year, and net income of US$683 million, down from US$760 million in Q1 a year ago due to the US$300 million cost of the 'NotPetya' cyberattack in June.

Bunny  Funny"The first quarter posed significant operational challenges due to the TNT Express cyberattack and Hurricane Harvey, and I want to thank our team members for their extraordinary dedication and performance," said Fred Smith, FedEx Corp. chairman and CEO. "We reaffirm our commitment to improve operating income at the FedEx Express segment by US$1.2 billion to US$1.5 billion in fiscal 2020 versus fiscal 2017," he added.

FedEx Express reported a decline in Q1 operating income to US$521 million despite an increase in revenue to US$8.65 billion. The business unit cited the cyberattack and US$88 million in TNT Express integration expenses.

The Integator said that while most TNT Express services resumed during the quarter, volumes, revenue and profit still remain below previous levels.

Meanwhile FedEx has responded to the aftermath of Hurricane Irma by rescuing over 150 shelter dogs and cats from Florida and delivering them to 'no-kill' shelters and potential new homes in California and Washington State.

The donated FedEx MD11 arrived in Miami last week filled with more than US$11 million in hurricane relief aid from Direct Relief and Heart to Heart International which will be used in Florida and the Caribbean. After offloading the supplies, the animals were boarded for the return flight to Oakland, CA.

(Pictured: Three month-old Chihuahua mixes Bunny and Funny prior to their flight from Florida to California.)

U.S. residents interested in adopting a shelter animal can visit: https://www.aspca.org/

News

Written on 17/01/2018, 21:42
seat-builds-spain-s-tallest-logistics-warehouseBARCELONA: January 15, 2018. Car manufacturer SEAT (Sociedad Española de Automóviles de Turismo) is constructing a new automated logistics center to store...
Written on 17/01/2018, 17:44
maersk-and-ibm-form-blockchain-companyCOPENHAGEN/ARMONK, NY: January 16, 2018: A.P. Møller - Mærsk and IBM are to establish a joint venture to leverage blockchain technology for global...
Written on 16/01/2018, 21:36
uk-roro-freight-depends-on-future-eu-accessLONDON: January 16, 2018. The UK short-sea ferry industry is spending over £1 billion on new ships, port and service facilities in the next four years,...
Written on 13/01/2018, 20:38
germany-to-allow-longer-trainsBERLIN: January 09, 2018. German railway operators have welcomed a decision by the federal government to allow more 740-meter trains to operate. Currently...
Written on 13/01/2018, 18:53
boeing-launches-electric-cargo-droneCHICAGO, January 10, 2018. Boeing is developing a 500lbs–payload electric vertical-takeoff-and-landing (eVTOL) drone for future cargo and logistics...
Written on 13/01/2018, 18:49
amazon-expands-at-cincinnati-hubSEATTLE: January 12, 2017. Dave Clark, senior vice president Operations for Amazon Prime Air, says the company has just added 210 acres to its future air...
Written on 10/01/2018, 22:50
disasters-cost-the-u-s-economy-us-306-billion-in-2017DENVER: January 09, 2018. According to the National Oceanic and Atmospheric Administration floods, tornadoes, hurricanes, drought, fires and freezes...
Written on 07/01/2018, 21:45
arizona-plans-bridge-not-wall-with-mexicoPHOENIX, AZ: January 06, 2018: As Donald Trump seeks US$18 billion from the U.S. Congress to build his border wall with Mexico, Arizona's Republican...
Written on 03/01/2018, 20:48
new-rail-line-delivers-first-containers-to-nairobi-from-mombasaNAIROBI: January 01, 2018. The new standard gauge rail (SGR) link between Nairobi and Mombasa saw the start of its first commercial freight service with...
Written on 03/01/2018, 16:57
eurozone-dominates-pmi-manufacturing-index-growthLONDON: January 03, 2018. According to the final IHS Markit Purchasing Managers' Index (PMI) for 2017, eurozone manufacturing reached 60.6 in December,...
Written on 18/12/2017, 23:19
dhl-underwrites-good-shipping-optionBONN: December 18, 2017. DHL Global Forwarding has signed an exclusive MoU with the Good Shipping Program. The company wants to decarbonize the ocean...
Written on 13/12/2017, 22:14
corruption-pervasive-in-trump-white-houseBERLIN: December 13, 2017. A new survey by ethics watchdog Transparency International says 44 percent of Americans now believe that corruption is...
Written on 13/12/2017, 22:07
banks-to-test-blockchain-for-sustainable-supply-chainsLONDON: December 13, 2017. The University of Cambridge Institute for Sustainability Leadership (CISL), supported by Barclays, BNP Paribas, Sainsbury's,...
Written on 13/12/2017, 21:38
shipt-a-target-for-us-550-millionMINNEAPOLIS: December 13, 2017. American bricks-and-mortar retailer Target Corp. is to purchase Shipt, an online same-day domestic delivery platform, for...
Written on 11/12/2017, 18:20
deutsche-bahn-subsidiary-regrets-rastatt-rail-closureDUSSELDORF: December 11, 2017. Speaking at meeting of rail operators last week, DB Netz CEO Frank Sennhenn expressed regret for his company's involvement...
Written on 10/12/2017, 22:44
rolls-royce-to-test-remote-controlled-shippingPARIS: December 06, 2017. The European Space Agency (ESA) and Rolls-Royce have signed an MoU to investigate how space technology can be used to develop...
Written on 08/12/2017, 20:10
beijing-continues-to-cut-carbonNAIROBI: December 06, 2017. According to an Assessment Report on Beijing Capital Airport, released during the third UN Environment Assembly in Nairobi...
Written on 07/12/2017, 20:53
bollore-begins-rail-renovation-between-cote-d-ivoire-and-burkina-fasoABIDJAN, Côte d'Ivoire: December 04, 2017. SITARAIL, a Bolloré Transport & Logistics subsidiary, has begun upgrading the rail link between Abidjan and...
Written on 07/12/2017, 19:53
innovative-dry-bulk-handling-at-port-of-rigaRIGA, Latvia: December 06, 2017. The Baltic port of Riga says it has become the first in Europe to use containerized dry bulk handling technology. Rīgas...
Written on 06/12/2017, 21:57
azerbaijan-railways-gets-us-400-million-upgradeMANILA: December 06, 2017. The Asian Development Bank (ADB) is providing loans to Azerbaijan Railways totaling US$400 million to improve governance and...

- powered by Quickchilli.com -