U.S. — FedEx reported revenue of $25.01 billion and adjusted earnings per share of $6.31 for the fiscal fourth quarter of 2026, exceeding analyst estimates. Following the earnings report, FedEx shares decreased approximately 4% in after-hours trading.

LSEG consensus estimates had forecast FedEx revenue of $24.04 billion and earnings per share of $5.96 for the fiscal fourth quarter of 2026. The company reported an operating margin of 8.35% for the quarter, compared to a consensus estimate of 8.44%. FedEx also announced a $1 billion stock buyback.

FedEx Freight began trading as a separate publicly traded company on June 1. In connection with the spinoff, FedEx Freight paid a cash dividend of approximately $4.1 billion to FedEx Corporation. FedEx changed its fiscal year end from May 31 to December 31, effective earlier in June.

For the full fiscal year, FedEx reported total revenue of $94.7 billion. This represents an increase from $87.9 billion in the prior year. The company forecasts full year adjusted diluted earnings per share to be between $16.90 and $18.10, and projects 11% year-over-year revenue growth for the full year.

Raj Subramaniam, CEO of FedEx, said, "Our profitable growth strategy is working." He added, "We are building momentum across our global industrial network, driving structural improvements and winning in high-value growth markets." Subramaniam also stated, "With the successful spin-off of FedEx Freight, we are entering this next chapter positioned to grow while further optimizing our network, lowering our cost to serve, creating meaningful long-term value, and driving robust free cash flow."

FedEx Express reported revenue of $21.57 billion for the period ended May 31, surpassing StreetAccount estimates of $20.75 billion. The company saw a 3% year-over-year increase in both domestic and U.S. priority volume. Fuel costs for FedEx increased to $1.43 billion from $864 million in the prior year, while U.S. pricing increased by 10%.

FedEx Express U.S. revenue increased nearly 13% year-over-year, with U.S. priority revenue up 14% and U.S. deferred revenue up 13%. U.S. ground revenue for FedEx Express increased 12%. International export priority shipments increased nearly 20% year-over-year, and international export economy shipping grew almost 9%. International domestic revenues increased by nearly 6%.

Brie Carere, Chief Customer Officer, said, "The AI and data center space is an emerging and rapidly scaling growth engine for us, delivering double-digit revenue growth." Carere also stated, "Rather than a narrow vertical, this space represents a horizontal ecosystem." She added, "We are capturing demand across the entire value chain from traditional hyperscalers to the industrial and power infrastructure that support these massive build-outs." FedEx Freight U.S. revenue grew 17% year-over-year. Additionally, FedEx Freight international priority business grew 20% year-over-year, and its international economy business grew 16%. FedEx Life Science was formally launched to provide specialized transportation services for the health-care industry.