Overview

• FedEx reported adjusted EPS of $3.83 on revenue of about $22.2 billion, with operating margin improving to 6% from 5.2% a year ago.
• For fiscal 2026, the company guided to adjusted EPS of $17.20 to $19.00 and projected 4% to 6% revenue growth, underpinned by $1 billion in structural cost savings.
• Management said the end of the de minimis duty exemption and other trade shifts cut Q1 revenue by $150 million and are expected to total roughly a $1 billion headwind this year.
• U.S. domestic average daily volumes rose around 5% as international export volumes fell 3%, helped by ongoing cost actions including parked aircraft and facility consolidation.
• The FedEx Freight spinoff remains on track for June 2026, with about $600 million earmarked for IT and systems preparation, and shares gained roughly 5% in after-hours and premarket trading.