FedEx (FDX) Tops Q3 EPS by $1.14

FedEx (NYSE: FDX) reported Q3 EPS of $5.25, $1.14 better than the analyst estimate of $4.11. Revenue for the quarter came in at $24 billion versus the consensus estimate of $23.48 billion.

GUIDANCE:

FedEx sees FY2026 EPS of $19.30-$20.10, versus the consensus of $18.71.

A 6.0% to 6.5% revenue growth rate year over year, compared to the prior forecast of 5% to 6% growth;

• Diluted earnings per share of $16.05 to $16.85 before the MTM retirement plans accounting adjustments compared to the prior forecast of $14.80 to $16.00, and $19.30 to $20.10 after also excluding costs related to the planned spin-off of FedEx Freight, business optimization initiatives, the planned change in the company's fiscal year end, and an international regulatory matter, compared to the prior forecast of $17.80 to $19.00;
• Permanent cost reductions of more than $1 billion in transformation-related savings from structural cost reductions and the advancement of Network 2.0, compared to the prior forecast of $1 billion;
• An ETR of approximately 24% prior to the MTM retirement plans accounting adjustments, compared to the prior forecast of approximately 25%;
• Pension contributions of $275 million, compared to the prior forecast of up to $275 million; and
• Capital spending of no more than $4.1 billion, with a priority on investments in network optimization and efficiency improvement, including fleet and facility modernization and automation, compared to the December forecast of $4.5 billion.

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

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