Turning to slide six, I will start with a snapshot of the quarter. This focus will support sustained profit improvement in FY ‘24 through an environment that we expect to remain marked by demand challenges, particularly in the first-half. We're entering fiscal 2024 with a continued focus on areas within our control and a commitment to execute swiftly on our priorities. This supported our fiscal year 2023 earnings, which came in above the midpoint of our March outlook, despite continued soft demand and an unplanned year-end tax expense, which negatively impacted our earnings by $0.18 for the quarter. At the same time, we continued to bend the cost curve through our DRIVE initiatives. In the fourth quarter, we introduced and began preparing for one FedEx. Thanks to the hard work of the FedEx team, we have demonstrated continued progress on our journey to transform into the world's most flexible, efficient, and intelligent network. Now let me turn to my remarks for the quarter. Above all, Mike has been a good friend and a colleague of mine, and I wish him all the very best. Due to his tireless work, FedEx is on solid footing as we execute the next phase of our strategy. Mike was named CFO in March of 2020, and I'm grateful for his leadership over the three years since then as we navigated a global pandemic and significant change. Before I start my remarks, I first want to acknowledge the upcoming retirement of Mike and his terrific contributions and accomplishments at FedEx over the last 18-years. Joining us on the call today are Raj Subramaniam, President, and CEO Mike Lenz, Executive Vice President, and CFO and Brie Carere, Executive Vice President, Chief Customer Officer. For a reconciliation of the non-GAAP financial measures discussed on this call to the most directly comparable GAAP measures. Please refer to the investor relations portion of our website at. For additional information on these factors, please refer to our press releases and filings with the SEC. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Certain statements in this conference call such as projections regarding future performance maybe considered forward-looking statements within the meaning of the act. I want to remind all listeners that FedEx Corporation desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act. During our question-and-answer session, callers will be limited to one question in order to allow us to accommodate all those who would like to participate. Joining us on the call today are members of the media. This call and the accompanying slides are being streamed from our website, where the replay and slides will be available for about one year. The fourth quarter earnings release and Stat Book are on our website at. Good afternoon, and welcome to FedEx Corporation’s fourth quarter earnings conference call. I would now like to turn the conference over to Mickey Foster, Vice President of Investor Relations. Please note this event is being recorded. After today's presentation, there will be an opportunity to ask questions. All participants will be in a listen-only mode. Good day, and welcome to the FedEx Fiscal Year 2023 Fourth Quarter Earnings Call. Jeff Kauffman - Vertical Research Partners Mike Lenz - Executive Vice President and Chief Financial Officer Raj Subramaniam - President and Chief Executive Officerīrie Carere - Executive Vice President, Chief Customer Officer Mickey Foster - Vice President, Investor Relations FedEx Corporation ( NYSE: FDX) Q4 2023 Earnings Conference Call J5:00 PM ET
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