[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What risks, uncertainties, and other factors are mentioned in relation to forward-looking statements?
### Assistant: The text mentions that forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Where can additional information on these factors be found?
### Assistant: Additional information on these factors can be found in FedEx's press releases and filings with the SEC, as well as in the Investor Relations portion of their website at fedex.com.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Who are the executives joining the call from FedEx?
### Assistant: The executives joining the call from FedEx are Raj Subramaniam (President and CEO), Mike Lenz (Executive Vice President and CFO), and Brie Carere (Executive Vice President, Chief Customer Officer).


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Who is retiring from FedEx and what position did they hold?
### Assistant: Mike Lenz is retiring from FedEx. He held the position of CFO.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How long has Mike been the CFO of FedEx?
### Assistant: Mike has been the CFO of FedEx for three years since March 2020.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What phase of their strategy is FedEx currently executing?
### Assistant: FedEx is currently executing the next phase of their strategy.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the goal of FedEx's transformation journey?
### Assistant: The goal of FedEx's transformation journey is to become the world's most flexible, efficient, and intelligent network.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What initiatives have helped bend the cost curve for FedEx?
### Assistant: The text mentions that FedEx has bent the cost curve through their DRIVE initiatives, although specific details about these initiatives are not provided.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did FedEx's fiscal year 2023 earnings perform compared to their March outlook?
### Assistant: FedEx's fiscal year 2023 earnings came in above the midpoint of their March outlook.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the significance of the introduction of "one FedEx"?
### Assistant: The introduction of "one FedEx" is significant as it marks a step in their transformation journey towards becoming the world's most flexible, efficient, and intelligent network.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the role of the DRIVE initiatives in FedEx's cost curve reduction?
### Assistant: The DRIVE initiatives have helped bend the cost curve for FedEx, although specific details about these initiatives are not provided.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has the FedEx team demonstrated progress in their transformation journey?
### Assistant: The FedEx team has demonstrated progress in their transformation journey through the introduction of "one FedEx" and their efforts to bend the cost curve through the DRIVE initiatives.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the purpose of the FedEx Q4 2023 earnings call?
### Assistant: The purpose of the FedEx Q4 2023 earnings call is to discuss and present the company's financial performance and outlook for the fourth quarter of fiscal year 2023.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the role of Mickey Foster in the earnings call?
### Assistant: Mickey Foster's role in the earnings call is Vice President of Investor Relations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the role of Raj Subramaniam in the earnings call?
### Assistant: Raj Subramaniam's role in the earnings call is President and CEO of FedEx.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the role of Brie Carere in the earnings call?
### Assistant: Brie Carere's role in the earnings call is Executive Vice President, Chief Customer Officer.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the role of Mike Lenz in the earnings call?
### Assistant: Mike Lenz's role in the earnings call is Executive Vice President and CFO.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the role of the media in the earnings call?
### Assistant: The media is joining the call to participate and ask questions during the question-and-answer session.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many questions will callers be limited to during the question-and-answer session?
### Assistant: Callers will be limited to one question during the question-and-answer session to accommodate all those who would like to participate.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the purpose of the Investor Relations portion of the FedEx website?
### Assistant: The purpose of the Investor Relations portion of the FedEx website is to provide information and resources for investors, including financial reports, presentations, and other relevant materials.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How long has Mike been with FedEx and what are his contributions and accomplishments?
### Assistant: Mike has been with FedEx for 18 years and has made terrific contributions and accomplishments during his tenure. He was named CFO in March 2020 and has provided leadership during significant changes and challenges, including navigating a global pandemic.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did an unplanned year-end tax expense impact FedEx's earnings?
### Assistant: The unplanned year-end tax expense negatively impacted FedEx's earnings by $0.18 for the quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx's focus for fiscal year 2024?
### Assistant: FedEx's focus for fiscal year 2024 is on areas within their control and a commitment to execute swiftly on their priorities.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did total revenue in the fourth quarter compare to the previous year for FedEx?
### Assistant: Total revenue in the fourth quarter was down 10% year over year for FedEx.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What caused the decline in volumes for FedEx?
### Assistant: The decline in volumes for FedEx was caused by continued soft demand across the market.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How have yield trends been affected in international markets for FedEx?
### Assistant: Yield trends in international markets for FedEx have been pressured due to changes in supply-demand balances.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx's approach to pricing?
### Assistant: FedEx has a disciplined pricing approach focused on the long term.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did FedEx's adjusted operating profit for the fourth quarter compare to expectations?
### Assistant: FedEx's adjusted operating profit for the fourth quarter was $1.8 billion, which met expectations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was FedEx's adjusted operating margin for the year?
### Assistant: FedEx's adjusted operating margin for the year was 6%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has FedEx's flow-through performance improved?
### Assistant: FedEx's flow-through performance has continued to improve and is believed to be the best in the industry in the first quarter of the calendar year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What progress has FedEx made on its transformation efforts?
### Assistant: FedEx has made progress on its transformation efforts, including cost-out efforts and operational improvements.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has picture proof of delivery benefited FedEx's customers?
### Assistant: Picture proof of delivery has benefited FedEx's customers by providing visibility to their delivered shipment at the click of a button.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What reduction in disputed delivery cases has picture proof of delivery led to?
### Assistant: Picture proof of delivery has led to a 14% reduction in disputed delivery cases for FedEx.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has FedEx's estimated delivery time window improved the customer experience?
### Assistant: FedEx's estimated delivery time window has improved the customer experience by providing a four-hour window for delivery.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What efforts has FedEx made to enhance productivity at Ground?
### Assistant: FedEx has enhanced productivity at Ground through dock modernization efforts and the use of new technology and data insights.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has Ground's operating income performed despite lower volumes?
### Assistant: Ground's operating income for FedEx performed well despite lower volumes, expanding margins in the second half.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did cost per package increase for FedEx this quarter?
### Assistant: Cost per package for FedEx increased only 1.9% this quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did FedEx reduce operating expenses by $350 million?
### Assistant: FedEx reduced operating expenses by $350 million through effective staffing management, store closures and consolidations, and reduced Sunday operations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was Ground's operating margin for the fourth quarter?
### Assistant: Ground's operating margin for the fourth quarter was 12.1%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has Express aligned costs with underlying demand?
### Assistant: Express has aligned costs with underlying demand by implementing cost and productivity efforts.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did Express's revenue perform in the face of demand dynamics and yield pressure?
### Assistant: Express's revenue declined by 13% due to demand dynamics and yield pressure.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did the Express team reduce total flight hours and retire aircraft?
### Assistant: The Express team reduced total flight hours by 12% year over year and permanently retired 18 aircraft, including 12 MD-11s.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What cost savings initiatives has FedEx implemented beyond flights?
### Assistant: FedEx has implemented cost savings initiatives beyond flights, including a single daily dispatch of couriers and accelerated hub productivity measures.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has operational execution improved in Europe for FedEx?
### Assistant: Operational execution has improved in Europe for FedEx across the region.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What announcement did FedEx make regarding its operations in Europe?
### Assistant: FedEx announced the implementation of market-leading picture proof of delivery for 90% of global residential deliveries in Europe.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to improve operational execution across the region?
### Assistant: FedEx plans to improve operational execution across the region through ongoing operational improvements and cost savings initiatives.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What two hubs did FedEx open this quarter?
### Assistant: FedEx opened two hubs this quarter: the international road hub in Duiven, Netherlands, and the state-of-the-art road hub in Novara, Italy.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How have the two new hubs enhanced FedEx's capabilities?
### Assistant: The two new hubs have enhanced FedEx's capabilities by enabling more efficient routing and improving their service on the continent.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much were operating expenses at Express down in the quarter?
### Assistant: Operating expenses at Express were down $1.1 billion in the quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the magnitude of the operating margin decline?
### Assistant: The magnitude of the operating margin decline has continued to narrow sequentially as FedEx's initiatives take hold.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the Freight team focused on?
### Assistant: The Freight team is focused on maintaining pricing discipline while flexing costs to protect profitability.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much were operating expenses reduced by in the fourth quarter?
### Assistant: Operating expenses were reduced by over $330 million in the fourth quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: When will the plan to close and consolidate 29 locations be completed?
### Assistant: The plan to close and consolidate 29 locations will be completed by August.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How will consolidation improve service levels?
### Assistant: Consolidation will improve service levels by creating significant efficiencies throughout the business from first to last mile and across support teams.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What measures has FedEx taken to match staffing with volume levels?
### Assistant: FedEx has conducted furloughs to match staffing with volume levels and is limiting hiring of salaried employees.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much reduction in operating costs did FedEx achieve in the fourth quarter of FY '23?
### Assistant: FedEx achieved a $2 billion year-over-year reduction in operating costs in the fourth quarter of FY '23.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has FedEx effectively matched flying with demand?
### Assistant: FedEx has effectively matched flying with demand by more effectively managing flight hours to align with underlying volumes.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much has U.S. headcount decreased by in FY '23?
### Assistant: U.S. headcount decreased by about 29,000 in FY '23.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the goal for cost reduction benefits from DRIVE this fiscal year?
### Assistant: The goal for cost reduction benefits from DRIVE this fiscal year is about $1.8 billion.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much permanent cost reductions does FedEx aim for in fiscal year 2025?
### Assistant: FedEx aims for $4 billion of permanent cost reductions in fiscal year 2025.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: When will FedEx consolidate its operating companies into one unified organization?
### Assistant: FedEx will consolidate its operating companies into one unified organization between now and June of 2024.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the purpose of One FedEx?
### Assistant: The purpose of One FedEx is to align the organization to one corporate structure that will facilitate the execution of the DRIVE transformation and enable the work in Network 2.0.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the first large-scale implementation of Network 2.0?
### Assistant: The first large-scale implementation of Network 2.0 is the transformation of FedEx's Canadian operations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the expected annualized benefit of the change in Canada?
### Assistant: The change in Canada is expected to generate an annualized benefit of over $100 million upon completion in FY '25.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many transitions have been announced in total?
### Assistant: FedEx has announced transitions in 20 markets.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What approach is FedEx taking to its Network 2.0 strategy?
### Assistant: FedEx is not taking a one-size-fits-all approach to its Network 2.0 strategy and is using a mix of models, including employees and contracting with service providers.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is likely to pressure revenue growth in the near term?
### Assistant: The dynamic nature of the underlying environment across geographies is likely to pressure revenue growth in the near term.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to reduce capital intensity?
### Assistant: FedEx plans to reduce capital intensity by focusing on the highest-return operational opportunities in an efficient manner.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx's expected aircraft-related capex in FY '26?
### Assistant: FedEx's expected aircraft-related capex in FY '26 is approximately $1 billion.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx's capital allocation strategy?
### Assistant: FedEx's capital allocation strategy represents an approach to a more efficient and nimble network.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What opportunities is FedEx looking for as it proceeds with its aircraft?
### Assistant: FedEx is looking for additional opportunities as it proceeds with its aircraft.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx's modernization strategy?
### Assistant: FedEx's modernization strategy is to bring discipline, improved flexibility, and agility to their operations in order to ensure success in the uncertain external environment.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to ensure success in the uncertain external environment?
### Assistant: FedEx plans to ensure success in the uncertain external environment by implementing their modernization strategy and focusing on revenue quality, creating meaningful differentiation, and managing through market dynamics.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What improvements does FedEx expect to see in margins, returns, and cash flow throughout the year?
### Assistant: FedEx expects to see improved margins, returns, and cash flow throughout the year as a result of their transformation efforts.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to enhance the customer experience through operational improvement?
### Assistant: FedEx plans to enhance the customer experience through operational improvement by delivering better service and outcomes, creating deep relationships, and providing incremental revenue for FedEx.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Who is the chief customer officer of FedEx?
### Assistant: The chief customer officer of FedEx is Brie Carere.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the operating conditions like in the fourth quarter for FedEx?
### Assistant: The operating conditions in the fourth quarter for FedEx remained pressured, with year-over-year volume declines and sequential moderation in yields across all transportation segments.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did the fourth-quarter revenue for FedEx Ground compare to the previous year?
### Assistant: The fourth-quarter revenue for FedEx Ground was down 2% year over year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What factors contributed to the decline in volume for FedEx Ground?
### Assistant: The decline in volume for FedEx Ground was driven by a 6% decline in volume, partially offset by a 5% increase in yield due to surcharges and product mix.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did the revenue at FedEx Express compare to the previous year?
### Assistant: The revenue at FedEx Express was down 13% year over year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the reasons for the decline in parcel volume for FedEx Express?
### Assistant: The decline in parcel volume for FedEx Express was most pronounced in the United States, and U.S. freight pounds were down over 25% due to a change in strategy from a very large customer. International export volumes were about 4% lower year over year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did the decline in market and high inventory levels affect FedEx Freight revenue?
### Assistant: The decline in the market and high inventory levels affected FedEx Freight revenue, which was down 18% driven by an 18% decline in volumes with revenue per shipment flat.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has the pricing environment affected FedEx's pricing discipline?
### Assistant: Although the pricing environment is moderating, FedEx's pricing discipline remains strong.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has customer demand rebalanced between priority and economy services in the Asian markets?
### Assistant: Customer demand has rebalanced between priority and economy services in the Asian markets due to capacity availability and changes in customer preferences.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has yield improved for Ground and U.S. Domestic Express compared to the previous year?
### Assistant: Yield has improved for Ground and U.S. Domestic Express compared to the previous year, but at a moderating rate versus the previous three quarters. Freight and freight yield were flat.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What efforts is FedEx making to create a flexible, efficient, and intelligent network?
### Assistant: FedEx is making efforts to create a flexible, efficient, and intelligent network by making their network the most flexible, efficient, and intelligent network in the world.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How are these efforts benefiting FedEx's customers?
### Assistant: These efforts are benefiting FedEx's customers by delivering better service and outcomes, creating deep relationships, and providing incremental revenue for FedEx.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What new services and enhancements has FedEx introduced to improve customer experience?
### Assistant: FedEx has introduced new services and enhancements such as picture proof of delivery, estimated time delivery window, FedEx Consolidated Returns, and FedEx Sustainability Insights to improve the customer experience.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx's new returns program, and where is it available?
### Assistant: FedEx's new returns program, FedEx Consolidated Returns, is available at FedEx office locations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does the returns program benefit merchants and shoppers?
### Assistant: The returns program benefits merchants by providing a low-cost e-commerce solution for lightweight apparel returns with end-to-end visibility. For shoppers, it offers a convenient, no-label, no-box drop-off experience using a QR code.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx Sustainability Insights, and how does it help customers?
### Assistant: FedEx Sustainability Insights is a cloud-based tool that enables customers to view estimated carbon emissions for both individual tracking numbers and all their FedEx accounts.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How can customers transfer their carbon data using FedEx's new platform?
### Assistant: Customers can transfer their carbon data using FedEx's new platform to their own internal systems via an API.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx use AI and machine learning to provide information to customers?
### Assistant: FedEx uses AI and machine learning capabilities to provide information to customers in a meaningful and actionable manner based on the vast shipment data they have.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Why does FedEx believe that a supply chain powered by them is a competitive advantage for customers?
### Assistant: FedEx believes that a supply chain powered by them is a competitive advantage for customers because it enables better service, outcomes, and deep relationships, while also providing incremental revenue.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the team at FedEx commended for?
### Assistant: The team at FedEx is commended for their unwavering commitment to service and for delivering innovative solutions.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to continue delivering innovative solutions in the future?
### Assistant: FedEx plans to continue delivering innovative solutions in the future by scaling their new returns program, introducing new portfolio expansions, and leveraging their AI and machine learning capabilities.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the operating income increase for Ground in the fourth quarter?
### Assistant: The operating income increase for Ground in the fourth quarter was not mentioned in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did the operating margin expand for Ground in the fourth quarter?
### Assistant: The operating margin expanded 210 basis points to 12.1% for Ground in the fourth quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the reasons for the margin expansion in Ground?
### Assistant: The reasons for the margin expansion in Ground were yield growth of 5% and strong cost controls driven by lower-line haul expense.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did adjusted operating income decline for Express?
### Assistant: The adjusted operating income declined 47% for Express.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the reason for the decline in adjusted operating income for Express?
### Assistant: The reason for the decline in adjusted operating income for Express was package volumes being down 7% and yields declining 3% due to international package yield pressure.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did package volumes decline for Express?
### Assistant: The package volumes declined 7% for Express.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the reason for the decline in yields for Express?
### Assistant: The reason for the decline in yields for Express was international package yield pressure.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did operating income decrease for Freight?
### Assistant: The operating income decreased 26% for Freight.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What was the reason for the decline in operating income for Freight?
### Assistant: The reason for the decline in operating income for Freight was shipments declining 18% and yield moderating.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much did shipments decline for Freight?
### Assistant: The shipments declined 18% for Freight.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the noncash items recorded in the fourth-quarter results?
### Assistant: The noncash items recorded in the fourth-quarter results were an impairment charge of $70 million related to the retirement of aircraft and engines, $47 million of goodwill and other asset impairment charges related to the ShopRunner acquisition, and an unplanned tax expense of $46 million from a revaluation of certain foreign tax assets.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much was the impairment charge related to the retirement of aircraft and engines?
### Assistant: The impairment charge related to the retirement of aircraft and engines was $70 million.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much were the goodwill and other asset impairment charges related to the ShopRunner acquisition?
### Assistant: The goodwill and other asset impairment charges related to the ShopRunner acquisition were $47 million.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much was the unplanned tax expense incurred?
### Assistant: The unplanned tax expense incurred was $46 million.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the recent demand trends for the major service categories?
### Assistant: The recent demand trends for the major service categories showed volume declines continuing in the quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did Ground and U.S. Domestic Express package volume trends improve in May?
### Assistant: Ground and U.S. Domestic Express package volume trends improved into May on a sequential basis.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are the volume decline expectations for Express and Ground in the first quarter of FY '24?
### Assistant: The volume decline expectations for Express and Ground in the first quarter of FY '24 were not mentioned in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the earnings outlook range for fiscal 2024?
### Assistant: The earnings outlook range for fiscal 2024 is $16.50 to $18.50 adjusted earnings per share.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are the key external factors that will determine the FY '24 outcome?
### Assistant: The key external factors that will determine the FY '24 outcome are broader economic activity in North America, Europe, and trans-Pacific trade, inventory restocking, and the development of e-commerce activity as FedEx continues to differentiate its offerings.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the expected adjusted margin improvement for Express and Ground in FY '24?
### Assistant: The expected adjusted margin improvement for Express and Ground in FY '24 was not mentioned in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How will Freight margins compare to FY '23 in FY '24?
### Assistant: Freight margins will remain strong in FY '24 but lower than FY '23 given significant volume reductions and yield pressure.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the projected net noncash pension headwind for FY '24?
### Assistant: The projected net noncash pension headwind for FY '24 is $230 million.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the projected interest income on cash balances for FY '24?
### Assistant: The projected interest income on cash balances for FY '24 is higher.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the projected tax rate for the full year?
### Assistant: The projected tax rate for the full year is approximately 25% prior to the.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to differentiate its offerings in relation to e-commerce activity?
### Assistant: FedEx plans to differentiate its offerings in relation to e-commerce activity by continuing to prioritize revenue quality, driving profitability improvement through efficiency initiatives supported by DRIVE, and aligning their cost base with demand to increase the flexibility of their network.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the projected business optimization cost for FY '24 associated with FedEx's transformation?
### Assistant: The projected business optimization cost for FY '24 associated with FedEx's transformation is $500 million.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much pre-tax spend is expected through FY '25?
### Assistant: The pre-tax spend expected through FY '25 is 2 billion.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How might the timing and amount of business optimization expenses change?
### Assistant: The timing and amount of business optimization expenses may change as FedEx revises and implements its plans.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the adjusted EPS used for illustrative purposes?
### Assistant: The adjusted EPS used for illustrative purposes is $17.50, the midpoint of the outlook range.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the expected international export yield pressure?
### Assistant: The expected international export yield pressure is approximately $800 million.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much increase in variable compensation is included in FedEx's plans?
### Assistant: A $500 million increase in variable compensation is included in FedEx's plans.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much cost savings are expected from DRIVE?
### Assistant: The cost savings expected from DRIVE are $1.8 billion.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the projected adjusted operating profit for FY '24?
### Assistant: The projected adjusted operating profit for FY '24 is approximately $6.2 billion at the midpoint of the outlook.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much cash did FedEx end the year with?
### Assistant: FedEx ended the year with 6.8 billion in cash.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How did FedEx accomplish maintaining cash despite the challenging business environment?
### Assistant: FedEx maintained cash despite the challenging business environment through continued improvement in cash conversion cycles and net working capital, along with reduced capital expenditures.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What were the capital expenditures for fiscal 2022?
### Assistant: The capital expenditures for fiscal 2022 were 6.2 billion, representing 6.8% of revenue.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Why were FY '23 capex slightly higher than projected?
### Assistant: FY '23 capex was slightly higher than projected due largely to timing as easing supply chain constraints accelerated the delivery of equipment and other projects.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the projected capex for FY '24?
### Assistant: The projected capex for FY '24 is 5.7 billion.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much adjusted free cash flow did FedEx have in fiscal 2023?
### Assistant: FedEx had 3.5 billion in adjusted free cash flow in fiscal 2023.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much stock did FedEx repurchase and at what average share price?
### Assistant: FedEx repurchased approximately $1.5 billion in stock at an average share price of approximately $163 a share.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much in dividends did FedEx pay?
### Assistant: FedEx paid 1.2 billion in dividends.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much voluntary pension contributions did FedEx fund?
### Assistant: FedEx funded 800 million in voluntary pension contributions.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What are FedEx's plans for capacity investments at Ground?
### Assistant: FedEx's plans for capacity investments at Ground will decline.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much stock does FedEx plan to repurchase in fiscal 2024?
### Assistant: FedEx plans to repurchase an additional $2 billion of stock in fiscal 2024.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much is FedEx raising its dividend by?
### Assistant: FedEx is raising its dividend by 10%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much voluntary pension contributions is FedEx planning for its U.S. plans?
### Assistant: FedEx is planning for $800 million of voluntary pension contributions to its U.S. plans.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx's focus in its transformation?
### Assistant: FedEx's focus in its transformation is on delivering shareholder value by driving improved profitability and lowering capital intensity.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to deliver shareholder value?
### Assistant: FedEx plans to deliver shareholder value by driving improved profitability, lowering capital intensity, and continuing to deliver strong return of excess cash to shareholders.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx's adjusted payout ratio after the dividend increase?
### Assistant: After the dividend increase, FedEx's adjusted payout ratio will be over 30%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How funded were FedEx's U.S. plans at year-end?
### Assistant: FedEx's U.S. plans were 94.5% funded at year-end.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the reason for FedEx's decision to consolidate everything under Express in Canada?
### Assistant: The reason for FedEx's decision to consolidate everything under Express in Canada is because the Canadian population is heavily concentrated in a few key geographies, and the volume is split roughly 50-50 between Express and Ground. Consolidating everything under Express allows for improved portfolio and service differentiation, as well as reducing costs by about $100 million.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: When will the consolidation in Canada begin and end?
### Assistant: The consolidation in Canada will begin in April 2024 and complete by September of 2024.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much will the consolidation in Canada reduce FedEx's costs by?
### Assistant: The consolidation in Canada is expected to reduce FedEx's costs by about $100 million.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the expected impact of the consolidation in Canada on FedEx's portfolio and service differentiation?
### Assistant: The consolidation in Canada is expected to improve FedEx's portfolio and service differentiation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the projected EPS range for FedEx?
### Assistant: The projected EPS range for FedEx is between $16.50 and $18.50.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How would an acceleration in the macro environment impact FedEx's revenue?
### Assistant: An acceleration in the macro environment would have a positive impact on FedEx's revenue.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Can you provide a sense of the proportion of EBIT in the first half and second half of the fiscal year?
### Assistant: The proportion of EBIT in the first half and second half of the fiscal year will depend on various factors, including demand projections and cost considerations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What factors should be considered when analyzing the first half of the fiscal year?
### Assistant: When analyzing the first half of the fiscal year, factors such as the significant inflection seen last year in the first quarter and the trail-off in freight volume later in the calendar year should be considered.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Is FedEx projecting any material inflection in the demand environment?
### Assistant: FedEx is not projecting any material inflection in the demand environment.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much of the $300 million in revenue net of cost increases is driven by volume versus price?
### Assistant: The breakdown of the $300 million in revenue net of cost increases between volume and price is not specified in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much of the $2.7 billion in variable costs taken out this year will be added back in fiscal '24?
### Assistant: The amount of the $2.7 billion in variable costs taken out this year that will be added back in fiscal '24 is not specified in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is FedEx's expectation for underlying inflation?
### Assistant: FedEx's expectation for underlying inflation is for continued but moderating inflation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx anticipate positive contribution beyond inflation in a muted demand growth scenario?
### Assistant: FedEx anticipates positive contribution beyond inflation in a muted demand growth scenario through DRIVE savings that are greater than nonrecurring headwinds.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the outlook for volume declines and yield increases for FedEx?
### Assistant: The outlook for volume declines is expected to be moderating as the year progresses, while the degree of yield increases seen last year is not expected to continue into this year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Are there any signs of demand destruction or trade-down in the current uncertain environment?
### Assistant: The given text does not provide any specific signs of demand destruction or trade-down in the current uncertain environment.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Can you provide more information about the customer who made a change?
### Assistant: The given text does not provide any specific information about the customer who made a change.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has the COVID-19 pandemic affected FedEx's operations?
### Assistant: The COVID-19 pandemic has affected FedEx's operations, but the specific impact is not mentioned in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What measures has FedEx taken to adapt to the changing market conditions?
### Assistant: FedEx has taken measures to adapt to the changing market conditions, but the specific measures are not mentioned in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has FedEx's financial performance been impacted by the pandemic?
### Assistant: The given text does not provide information about how FedEx's financial performance has been impacted by the pandemic.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What strategies is FedEx implementing to drive cost savings?
### Assistant: FedEx is implementing strategies to drive cost savings, but the specific strategies are not mentioned in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to differentiate its services from competitors?
### Assistant: The given text does not provide information about how FedEx plans to differentiate its services from competitors.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the outlook for international shipping for FedEx?
### Assistant: The outlook for international shipping for FedEx is not mentioned in the given text.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to address any potential disruptions in the supply chain?
### Assistant: The given text does not provide information about how FedEx plans to address potential disruptions in the supply chain.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What investments is FedEx making in technology and infrastructure?
### Assistant: The given text does not provide information about the investments FedEx is making in technology and infrastructure.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx plan to maintain customer satisfaction and loyalty in a competitive market?
### Assistant: The given text does not provide information about how FedEx plans to maintain customer satisfaction and loyalty in a competitive market.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the role of Brie Carere in FedEx?
### Assistant: Brie Carere is the Executive Vice President and Chief Customer Officer at FedEx.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Did FedEx see any benefit from the UPS labor negotiation in Q4?
### Assistant: No, FedEx did not see any benefit from the UPS labor negotiation in Q4.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Is FedEx planning for any benefit from the UPS labor negotiation in fiscal year '24?
### Assistant: No, FedEx is not planning for any benefit from the UPS labor negotiation in fiscal year '24.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Are there any diversions from the UPS network driving incremental gains at FedEx?
### Assistant: There are no diversions from the UPS network driving incremental gains at FedEx.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx's value proposition compare to its primary competitor, UPS?
### Assistant: FedEx's value proposition is strong compared to its primary competitor, UPS.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: In which region has FedEx seen the biggest shift in customer trades within its portfolio?
### Assistant: FedEx has seen the biggest shift in customer trades within its portfolio in the Asia region.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has the performance of the Asia-Pacific team at FedEx been?
### Assistant: The performance of the Asia-Pacific team at FedEx has been pleasing and their sales pipeline is strong.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Who is the analyst from Stephens, Inc. asking the next question?
### Assistant: The analyst from Stephens, Inc. asking the next question is Jack Atkins.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Does the guidance from FedEx contemplate any changes in the operating environment?
### Assistant: Yes, the guidance from FedEx contemplates the operating environment remaining as is.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Is FedEx prepared to pull forward some of the DRIVE savings if customer demand deteriorates?
### Assistant: Yes, FedEx is prepared to pull forward some of the DRIVE savings if customer demand deteriorates.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Will the $800 million international export yield pressure fully capture pre-COVID levels?
### Assistant: The $800 million international export yield pressure is expected to fully capture pre-COVID levels.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the low end of FedEx's revenue expectation?
### Assistant: The low end of FedEx's revenue expectation is characterized as flattish year over year.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has FedEx managed to improve margins and profitability despite material volume declines at Ground?
### Assistant: FedEx has managed to improve margins and profitability despite material volume declines at Ground through the flexibility incorporated into the network.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has Express mitigated the flow-through from reduced demand at FedEx?
### Assistant: Express has mitigated the flow-through from reduced demand at FedEx.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What flexibility has FedEx incorporated into its network to react to changes in customer demand?
### Assistant: FedEx has incorporated flexibility into its network to react and adjust to changes in customer demand.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the revenue growth range for FedEx?
### Assistant: The revenue growth range for FedEx is 1% to 3%.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Does FedEx have the ability to pull additional levers beyond 3% revenue growth?
### Assistant: Yes, FedEx has the ability to pull additional levers beyond 3% revenue growth.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much impact does FedEx plan for this fiscal year due to international export yield pressure?
### Assistant: FedEx plans for an $800 million impact this fiscal year due to international export yield pressure.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Will FedEx be able to build back after lapping the $800 million impact?
### Assistant: Yes, FedEx will be able to build back after lapping the $800 million impact.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has the sales pipeline at FedEx been affected by the UPS labor negotiation?
### Assistant: The sales pipeline at FedEx has been positively affected by the UPS labor negotiation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Are there any doors that have been opened for FedEx due to the UPS labor negotiation?
### Assistant: The UPS labor negotiation has opened doors for FedEx.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Are there any legacy UPS customers that FedEx is currently in conversation with?
### Assistant: FedEx is currently in conversation with legacy UPS customers.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How has capacity in Asia relative to demand affected FedEx's operations?
### Assistant: The capacity in Asia relative to demand has affected FedEx's operations.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Did FedEx reopen its ID product in the fourth quarter?
### Assistant: Yes, FedEx reopened its ID product in the fourth quarter.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How does FedEx's sales pipeline look in terms of legacy UPS customers?
### Assistant: FedEx's sales pipeline looks strong in terms of legacy UPS customers.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What is the amount of cost savings that FedEx is aiming for?
### Assistant: FedEx is aiming for 1.8 billion dollars of cost savings.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How will the cost savings be implemented over time?
### Assistant: The cost savings will be implemented sequentially over time.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: When will FedEx reach the full run rate of the cost savings?
### Assistant: FedEx will reach the full run rate of the cost savings by FY '25.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How many markets has FedEx already transitioned to one operation?
### Assistant: FedEx has already transitioned 20 markets to one operation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: Are all markets the same in terms of the transition to one operation?
### Assistant: Not all markets are the same in terms of the transition to one operation.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How will the hybrid model work in states with overlapping contractors and employee drivers?
### Assistant: The hybrid model will be determined based on data and will be worked through with the PSP philosophy.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What factors will determine whether a market will have couriers or contractors?
### Assistant: Factors such as data and the PSP philosophy will determine whether a market will have couriers or contractors.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: What philosophy will guide the decision-making process for the hybrid model?
### Assistant: The PSP philosophy, which stands for people-first, will guide the decision-making process for the hybrid model.


[INST] <<SYS>>
Use the provided conversation to generate a relevant answer. If the new question is related to the prior context, use that information to provide a more detailed answer. If the new question is not related to prior context, provide a standalone answer.
<<\/SYS>>

### Human: How much progress has FedEx made in the transition process?
### Assistant: FedEx has made significant progress in the transition process.