Q3 26 EPS
$5.25
Q3 26 Revenue
$24.00B
BEAT +2.20%
Est. $23.48B
vs S&P Since Q3 26
+1.8%
BEATING MARKET
FDX +13.0% vs S&P +11.1%
Market Reaction
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 prim… Read more 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 considerable skepticism from some investors. 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
FDX 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, source: SEC Filings
FDX Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Raj Subramaniam, Q3 2026 Earnings Press Release
FDX Earnings Trends
FDX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FDX EPS Trend
Earnings per share: estimate vs actual
FDX Revenue Trend
Quarterly revenue: estimate vs actual
FDX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 | — | $5.25 | — | $24.00B | +2.20% |
| Q2 26 BEAT | $4.11 | $4.82 | +17.16% | $23.47B | +2.94% |
| Q1 26 BEAT | $3.62 | $3.83 | +5.76% | $22.24B | +2.69% |
| Q4 25 BEAT FY | $5.80 | $6.07 | +4.66% | $22.22B | +2.16% |
| FY Full Year | $18.01 | $18.19 | +1.02% | $87.93B | +0.54% |
| Q3 25 MISS | $4.63 | $4.51 | -2.65% | $22.16B | +1.26% |