Earnings

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Quote: looks like 5 April will DRIVE us to be happy to have a Job as they announce right sizing the fleet and manning. We need them more than they need us. Truth hurts.
Nah I'll take a furlough before I take a contract that isn't industry leading. Nice try though. FUPM
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Quote: I listened to the entire thing and wrote specific quotes down. Please stop with your fear mongering.
Why would he do that? It’s what he gets paid to do.
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Quote: 3608791[/url]]It’s called “earnings per share” for a reason.


FDX: 252.40 M shares outstanding
UPS: 858.74 M shares outstanding

Thanks for stopping by.
You obviously don’t understand the concept of net income as a % of revenue, which is utilization of your assets to generate money, which Fedex is extremely poor. Guess we are back to fantasy land valuation.
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Quote: did anyone even listen to the earnings call ? Time to update the apps so when this big ugly bid comes out and many are left without a chair, you can at least continue to make income somewhere else. The old heads will get their updated contract at the expense of a massive cut in manning and zero scope. Thanks a lot NMB old heads. Clearly did not listen to my survey in 2018, only aligned it with the need for that freaking retirement .
You are killing me. I haven't laughed this hard in a while. If you are so worried about Purple failing or getting a contract that doesn't fit your exact expectations, I suggest you leave the airline industry. In two to three years the other majors will be complaining how things suck there, its a never ending cycle. Look back at any of the AA, DAL or UAL post from 3-4 years ago and see how rosey things were.
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Quote: Did you listen to the call? I’m hardly a cheerleader here, but it was quite specific and I wrote down what Raj said:

9 aircraft were parked in the 3rd quarter (past tense).

6 more aircraft will be parked in the 4th quarter (future tense).

That’s in the transcripts. This isn’t happy hour at the Swan, so please stay factual and keep the whining to a minimum. I will absolutely walk away from this place after five years, but you do none of us any favors by making stuff up.
That’s what I read as well. So 15 aircraft temporarily parked. We are still delivering the following.
2023
10-76’s
1-77
2024
14-76’s
4-77’s
2025
10-76’s
2-77’s
Correct me if Im wrong…. That’s still growth.
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Quote: That's not what was said. Raj said "temporarily parking aircraft." Then Mike put a number with it of "6 aircraft to be parked."

I know the MDs are the flex fleet and will come and go, but to say the whole fleet is going away is misguided.
from the transcript

This requires many steps, including plans currently being developed to phase out our fleet of MD-11s”

https://seekingalpha.com/article/458...all-transcript
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Quote: from the transcript

This requires many steps, including plans currently being developed to phase out our fleet of MD-11s”

https://seekingalpha.com/article/458...all-transcript
Yes plans to phase it out, that will take years. This has been known since 2019 they are going away and will be replaced in some shape or form of the future fleet. Currently parked 6 and 9 will be parked in last qtr.
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Quote: from the transcript

This requires many steps, including plans currently being developed to phase out our fleet of MD-11s”

https://seekingalpha.com/article/458...all-transcript
Yes. I heard that as well. We know the MD is going away, but "phasing out" the MD could take 5-10 years. And has been said for years already. This is nothing new.
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Quote: from the transcript

This requires many steps, including plans currently being developed to phase out our fleet of MD-11s”

https://seekingalpha.com/article/458...all-transcript
Operator

Our next question is from Jordan Alliger of Goldman Sachs.

Jordan Alliger

I was wondering if you could give a little more color on the cost takeout sort of for the balance of the year. I think the slides had it at around $2.4 billion. I think the total is something like $3.7 billion, with $1 billion being permanent. Can you maybe give some update around that? And is there a way to get a sense for how much so far can be attributable to the Express business in terms of cost takeout, maybe the permanent -- at least the permanent side? Thanks.

Mike Lenz

So okay, Jordan, the -- yes, we will -- the $1 billion of permanent that Raj alluded to, we will realize that this year. The bulk of that is at Express, and we will see more traction on that, particularly in Q4 here. We’ve highlighted the flight frequencies that we’ve been reducing. We have -- we had -- as Raj said, we had nine more aircraft parked during the third quarter, and we’re projecting to park six more during the fourth quarter. So, that is illustrative of the takedowns and reductions underway there. And then also another component of the $1 billion, was taking out investments in that and initiatives and projects that we don’t anticipate picking up.
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The specific question about fleet planning was directly dodged by Raj. I did hear 4.7 billion returned to investors in 2023. We’re definitely making money. And finally, we may be compensated well below our peers, but at least we work for one of the most ethical companies in the world. One of the most admired as well!
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