Overview

• FedEx posted adjusted earnings of $3.83 per share on revenue of about $22.2 billion, exceeding LSEG consensus on both profit and sales.
• The company guided fiscal 2026 adjusted EPS to $17.20–$19.00 with revenue growth of 4%–6%, and shares rose roughly 5%–6% after the report.
• Executives said the end of de minimis and other trade policies cut first‑quarter revenue by around $150 million and are expected to be a roughly $1 billion headwind for the year.
• U.S. average daily volumes increased about 5% as international export volumes fell 3%, while a $1 billion structural cost‑savings plan progressed through network consolidation and other actions.
• Management reaffirmed the plan to spin off FedEx Freight by mid‑2026 and reported $500 million of share repurchases, highlighting the company’s data and AI capabilities as a competitive asset.