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A FedEx delivery van photographed in London, England, on May 27, 2026.
Photo credit: Peter Dazeley, Getty Images.
FedEx announced on Tuesday that its earnings surpassed Wall Street expectations on both the top and bottom lines.
The earnings report covered the final quarter that includes the company’s freight business, which was spun off into the publicly traded entity FedEx Freight on June 1. FedEx said FedEx Freight transferred a cash dividend of approximately $4.1 billion to FedEx Corporation as part of the spinoff.
FedEx stock fell about 5% in after‑hours trading.
Below is a comparison of FedEx’s fourth‑quarter results against analyst expectations, based on an LSEG survey:
- Earnings per share: $6.31 adjusted versus the $5.96 analysts projected
- Revenue: $25.01 billion versus the $24.04 billion analysts expected
For the quarter ending May 31, FedEx Express generated $21.57 billion in revenue, exceeding StreetAccount’s $20.75 billion estimate. The company noted a 3% year‑over‑year rise in domestic volume and a 3% increase in U.S. priority volume.
In the fourth fiscal quarter, FedEx reported net income of $1.6 billion, or $6.60 per share, compared with $1.65 billion, or $6.88 per share, in the prior year. Excluding one‑time items such as the spinoff and retirement‑plan adjustments, adjusted earnings per share were $6.31.
For the full fiscal year, FedEx recorded $94.7 billion in revenue, up from $87.9 billion in the previous year.
“The momentum evident across our business confirms that our strategy is working,” CEO Raj Subramaniam told analysts. “This translates into strong free cash flow and FY ’26 results that significantly surpassed our original outlook.”
The company announced that it will shift its fiscal year‑end from May 31 to December 31, effective immediately.
For the upcoming year, FedEx projects an 11% year‑over‑year revenue increase and forecasts adjusted diluted earnings per share between $16.90 and $18.10.
Fuel expenses increased from $864 million in the prior year to $1.43 billion this year, a 66% rise. Additionally, U.S. pricing climbed 10%.
