FedEx (NYSE: FDX) reported Q1 EPS of $3.83, $0.15 better than the analyst estimate of $3.68. Revenue for the quarter came in at $22.2 billion versus the consensus estimate of $21.69 billion.

GUIDANCE:

FedEx sees FY2026 EPS of $17.20-$19.00, versus the consensus of $18.25.

For fiscal 2026, FedEx is forecasting:

• A 4% to 6% revenue growth rate year over year;
• Diluted earnings per share of $14.20 to $16.00 before the MTM retirement plans accounting adjustments, and $17.20 to $19.00 after also excluding costs related to business optimization initiatives, the planned spin-off of FedEx Freight, and the planned change in the company's fiscal year end;
• An ETR of approximately 25% prior to the MTM retirement plans accounting adjustments; and
• Pension contributions of up to $400 million, compared to the prior forecast of up to $600 million.
• FedEx is reaffirming its fiscal 2026 forecast of:
• Permanent cost reductions of $1 billion in transformation-related savings from structural cost reductions and the advancement of Network 2.0; and
• Capital spending of $4.5 billion, with a priority on investments in network optimization and efficiency improvement, including fleet and facility modernization and automation.
• These forecasts assume the company's current economic forecast and fuel price expectations, and no additional adverse economic, geopolitical, or international trade-related developments. FedEx’s ETR and EPS forecasts are based on current law and related regulations and guidance.
• “Our first quarter results demonstrate our commitment to improving stockholder returns while executing on our strategic initiatives,” said John Dietrich, FedEx Corp. executive vice president and chief financial officer. “Looking ahead, we are prepared to navigate a range of scenarios, while remaining focused on value creation and maintaining a disciplined approach to capital allocation.”

For earnings history and earnings-related data on FedEx (FDX) click here.