Q2 26 EPS
$4.82
BEAT +17.16%
Est. $4.11
Q2 26 Revenue
$23.47B
BEAT +2.94%
Est. $22.80B
vs S&P Since Q2 26
+31.7%
BEATING MARKET
FDX +37.6% vs S&P +5.9%
Market Reaction
Did FDX Beat Earnings? Q2 2026 Results
FedEx delivered a standout fiscal second quarter for 2026, posting adjusted diluted EPS of $4.82 against a Wall Street consensus of $4.11, a beat of 17.16% that reflected both operational momentum and the deepening payoff of the company's ongoing DRI… Read more FedEx delivered a standout fiscal second quarter for 2026, posting adjusted diluted EPS of $4.82 against a Wall Street consensus of $4.11, a beat of 17.16% that reflected both operational momentum and the deepening payoff of the company's ongoing DRIVE efficiency program. Consolidated revenue climbed 6.8% year over year to $23.47 billion, clearing the $22.80 billion estimate by 2.94%, with the Federal Express segment serving as the primary engine; that unit alone generated $20.43 billion in quarterly revenue, up 8% annually, as U.S. Domestic package volume expanded across all service tiers and domestic composite yields rose 5%. Adjusted operating income reached $1.61 billion with a 6.9% margin, up from 6.3% a year prior, underscoring the cost discipline that has drawn growing analyst conviction around FedEx's transformation story. Looking ahead, management raised its full-year revenue growth outlook to 5%-6% and lifted its adjusted EPS range to $17.80-$19.00, signaling confidence even as the planned June 2026 spin-off of FedEx Freight and global trade policy uncertainty remain key variables to watch.
Key Takeaways
- • Strength in U.S. domestic and International Priority package yields
- • Continued structural cost reductions from DRIVE and Network 2.0 transformation initiatives
- • Higher U.S. domestic package volume across all service tiers
- • Lower business optimization costs compared to prior year quarter
- • Share repurchase activity benefiting EPS by $0.05 per diluted share
FDX YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
FDX Revenue by Segment
With YoY comparisons, source: SEC Filings
“FedEx delivered an outstanding second quarter as we successfully executed our growth strategy and advanced our network transformation, while navigating a highly challenging external environment.”
— Raj Subramaniam, Q2 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% |