Q1 26 EPS
$3.83
BEAT +5.76%
Est. $3.62
Q1 26 Revenue
$22.24B
BEAT +2.69%
Est. $21.66B
vs S&P Since Q1 26
+57.7%
BEATING MARKET
FDX +66.3% vs S&P +8.6%
Market Reaction
Did FDX Beat Earnings? Q1 2026 Results
FedEx opened its fiscal 2026 on a strong note, posting first-quarter adjusted EPS of $3.83 against the $3.62 consensus estimate, a 5.76% beat, while consolidated revenue climbed 3.1% year-over-year to $22.24 billion, topping analyst expectations by 2… Read more FedEx opened its fiscal 2026 on a strong note, posting first-quarter adjusted EPS of $3.83 against the $3.62 consensus estimate, a 5.76% beat, while consolidated revenue climbed 3.1% year-over-year to $22.24 billion, topping analyst expectations by 2.69%. The standout driver was the Federal Express segment, where U.S. Domestic package revenue surged 8% to $12.69 billion on higher yields and a 5% increase in average daily volume, reflecting the tangible payoff from the company's ongoing transformation cost-reduction program. Those gains were partially tempered by a 47% plunge in U.S. Freight revenue following the expiration of the USPS contract and a 25% reduction in transpacific freighter capacity as tariffs weighed on China-to-U.S. Shipment volumes, a headwind management estimates will cost approximately $1 billion this fiscal year. Looking ahead, FedEx guided for full-year revenue growth of 4% to 6% and adjusted EPS of $17.20 to $19.00, with a 5.9% rate increase taking effect in January, signaling measured confidence even as broader market conditions remain in focus.
Key Takeaways
- • Higher U.S. domestic and international priority package yields
- • Continued cost savings from transformation initiatives
- • Increased U.S. domestic package volume, with total U.S. domestic ADV up 5%
- • U.S. ground home delivery/economy volume growth of 7%
- • Composite package yield increased 2% year-over-year
- • Lower fuel costs down 19% year-over-year
- • Business optimization costs reduced 48% year-over-year
FDX YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
FDX Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our earnings growth underscores the success of our strategic initiatives, as we are flexing our network and reducing our cost-to-serve, while further enhancing our value proposition and customer experience.”
— Raj Subramaniam, Q1 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% |