Overview

• FedEx reported fiscal Q1 adjusted EPS of $3.83 on revenue of about $22.2 billion, beating Wall Street expectations.
• Management reinstated a fiscal 2026 outlook calling for 4% to 6% revenue growth and adjusted EPS of $17.20 to $19.00.
• Executives warned U.S. removal of de minimis tariff exemptions is weighing on volumes and yields, with commentary indicating roughly a $1 billion full‑year headwind.
• The company is targeting $1 billion of cost savings this fiscal year, completed $500 million of share repurchases, and ended the quarter with about $6.2 billion in cash.
• FedEx reiterated plans to spin off FedEx Freight by June 2026, and shares rose about 5%–7% after hours with UPS advancing in sympathy.