Fedex Corp
Q4 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.80%.
Did FDX Beat Earnings? Q4 2026 Results
FedEx Corporation delivered a decisive earnings beat in its fiscal fourth quarter of 2026, posting adjusted diluted EPS of $6.31 against a consensus estimate of $5.95, a 6.01% beat that extended the company's streak of topping Wall Street expectations to four consecutive quarters. Revenue of $25.01 billion climbed 12.5% year over year and cleared the $24.03 billion consensus by 4.08%, with the Federal Express segment serving as the primary engine, generating $21.57 billion in quarterly revenue, up 14%, on the back of strong U.S. domestic and international priority package yields and volume growth. The results also reflected the fruits of FedEx's ongoing transformation effort, which delivered more than $1.00 billion in cost savings for the full fiscal year, helping push full-year adjusted diluted EPS to $20.24 from $18.19 a year earlier. Analysts had been closely watching post-separation financials following the June 1 spin-off of FedEx Freight. Looking ahead, FedEx guided for approximately 11% revenue growth in calendar year 2026 and adjusted diluted EPS of $16.90 to $18.10, with planned share repurchases of up to $1 billion.
- Strength in U.S. Domestic and International Priority package yields
- Cost savings from transformation initiatives exceeding $1 billion goal
- Increased U.S. domestic and international export package volume
- Capital spending as percentage of revenue declined to 4.0%, lowest in company history
- U.S. priority package yield increased 10% to $28.41
- International priority package yield increased 16% to $71.12
- Composite package yield increased 11% to $17.90
- FedEx Freight composite revenue per shipment increased 11% to $415.22
- FedEx Freight revenue per hundredweight increased 8% to $43.79
“Team FedEx delivered an impressive finish to a strong fiscal year, providing excellent service to our customers and successfully executing on our transformation initiatives. Our profitable growth strategy is working. We are building momentum across our global industrial network, driving structural improvements and winning in high-value growth markets. With the successful spin-off of FedEx Freight, we are entering this next chapter positioned to grow while further optimizing our network, lowering our cost to serve, creating meaningful long-term value, and driving robust free cash flow.”
FedEx CEO, on the earnings call
Forward Guidance & Outlook
For calendar year 2026 (the transition year), FedEx forecasts approximately 11% year-over-year revenue growth, GAAP diluted EPS from continuing operations of $16.55 to $17.75, and adjusted diluted EPS from continuing operations of $16.90 to $18.10. The effective tax rate is expected to be approximately 23%. Pension contributions are forecast at $475 million and capital spending at $3.9 billion, prioritizing network optimization, fleet and facility modernization, and automation. Forecasts assume current economic conditions, fuel price expectations, successful stock repurchase completion, and no additional adverse economic, geopolitical, or international trade-related developments. The company intends to repurchase up to $1 billion in shares opportunistically.
FDX YoY Financials
FDX Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.