Overview

• Adjusted earnings were $3.83 per share on $22.2 billion in revenue, topping Wall Street expectations on both metrics.
• FedEx reinstated fiscal 2026 guidance, projecting 4% to 6% revenue growth and adjusted EPS of $17.20 to $19.00.
• The company quantified the end of the de minimis exemption as a roughly $150 million hit to first-quarter revenue and about a $1 billion headwind for FY26.
• U.S. package demand strengthened, with domestic average daily volume up around 5% and operating margin improving to 6%, while international exports fell 3% and FedEx Freight performance softened.
• FedEx is targeting $1 billion of cost savings and expects to complete the FedEx Freight spin-off by June 2026, as shares rose roughly 5% in premarket trading.