Companies /Industrials

Fedex Corp

NYSE: FDX Integrated Freight & Logistics
$333.17
▼ $2.82 (−0.84%) today
Markets open · 1:33pm ET

Q3 2026 Earnings

Reported Mar 19, 2026, 4:10pm ET · SEC source
$5.25
Beat +26.98%
EPS · est. $4.13
$24.0B
Beat +2.20%
Revenue · est. $23.5B
+4.1%
Beating market
FDX vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%+8%Mar 19Mar 20report 4:10pm ETearnings−1.1%−0.1%
−4%0+4%+8%Mar 19Mar 20earnings−1.1%−0.1%
FDX −0.1%S&P 500 −1.1%
−4%0+4%+8%Mar 19Mar 20report 4:10pm ETearnings−1.2%−0.1%
−4%0+4%+8%Mar 19Mar 20earnings−1.2%−0.1%
FDX −0.1%NASDAQ −1.2%
−12%−8%−4%0Mar 18Mar 27report 4:10pm ETearnings−4.2%−11.3%
−12%−8%−4%0Mar 18Mar 27earnings−4.2%−11.3%
FDX −11.3%S&P 500 −4.2%
−12%−8%−4%0Mar 18Mar 27report 4:10pm ETearnings−5.5%−11.3%
−12%−8%−4%0Mar 18Mar 27earnings−5.5%−11.3%
FDX −11.3%NASDAQ −5.5%
+1.82%
Day of report
+0.77%
Next session
−1.84%
One week
+10.81%
30 days

S&P 500 over the same 30 days: +6.71%.

Did FDX Beat Earnings? Q3 2026 Results

FedEx delivered a blowout fiscal third quarter for 2026, with adjusted diluted EPS of $5.25 clearing the $4.13 Wall Street consensus by nearly 27% and revenue of $24.00 billion rising 8.3% year over year while edging past estimates by 2.20%. The primary engine was the Federal Express segment, where disciplined yield management and transformation cost savings drove a 10% revenue gain to $21.15 billion, with U.S. domestic package volume up 5% and International Priority revenue surging 13% on robust yields. The FedEx Freight segment told a sharply contrasting story, with revenue slipping 5% to $1.99 billion and operating income nearly wiped out by $126.00 million in separation costs tied to the planned June 1, 2026 spin-off, a transaction that has drawn <a href="https://247wallst.com/investing/2026/03/16/fedex-is-up-22-this-year-but-reddit-traders-are-betting-against-the-freight-spin-off/">considerable skepticism from some investors</a>. Buoyed by operational momentum, FedEx raised its full-year adjusted EPS guidance to $16.05–$16.85 and lifted its revenue growth outlook to 6.0%–6.5%, while trimming capital spending to no more than $4.10 billion.

Key Takeaways
  • Strength in U.S. domestic and International Priority package yields
  • Continued cost savings from transformation initiatives including DRIVE and Network 2.0
  • Increased U.S. domestic package volume with 5% higher average daily volume
  • Tax benefit of $99 million from recognition of foreign tax loss carryforwards
  • Composite package yield improved 6% year-over-year
  • International Priority package yield improved 11% to $66.16 per package

“Team FedEx delivered another quarter of strong financial results and excellent service for our customers, powered by disciplined operational execution, the resilience of our global network, and the accelerating impact of our advanced digital solutions.”

FedEx CEO, on the earnings call

Forward Guidance & Outlook

FedEx raised its fiscal 2026 outlook: revenue growth of 6.0%–6.5% YoY (up from 5%–6%); adjusted diluted EPS of $16.05–$16.85 before MTM retirement plan adjustments (up from $14.80–$16.00), and $19.30–$20.10 after also excluding spin-off, optimization, fiscal year change, and regulatory costs (up from $17.80–$19.00); permanent transformation cost reductions of more than $1 billion (previously $1 billion); effective tax rate of approximately 24% (down from ~25%); pension contributions of $275 million; and capital spending of no more than $4.1 billion (down from $4.5 billion). Forecasts assume current economic outlook and fuel prices with no additional adverse economic, geopolitical, or trade developments.

FDX YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$7.0B$14.0B$21.0B$22.2B$24.0BRevenue$1.5B$1.3BOperating Income$909.0M$1.1BNet Income
$0$7.0B$14.0B$21.0BRevenueOperating IncomeNet Income

FDX Revenue by Segment

Federal Express$21.2B+10.0%
U.S. Domestic Package
U.S. Domestic Package (Federal Express)
U.S. Ground$9.9B+10.0%
U.S. Ground Package
International Export Package
International Export Package (Federal Express)
U.S. Priority Package$2.9B+10.0%

Figures from SEC filings and company reports. Not investment advice.