OpenNashEarnings

Transportation · NYSE: FDX

FedEx earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends May · next results expected around 17 Dec 2026

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

FedEx reported third-quarter revenue of $22.9 billion, diluted EPS of $1.21 and adjusted diluted EPS of $3.74, and raised its calendar 2026 earnings outlook.

FedEx grew revenue 12% to $22.9 billion in the quarter ended September 30, 2026. Higher package prices and volumes, plus cost savings from its transformation program, lifted operating income to $1.07 billion. GAAP diluted EPS was $1.21, held down by a $1.2 billion loss on the 19.9% stake kept in FedEx Freight after the spin-off. Adjusted EPS was $3.74, which excludes that loss and a gain on retiring debt. FedEx also repurchased $2.0 billion of stock.

Read the Q3 2026 summary →Q3 2026 slides (PDF) ↗Official transcript (PDF) ↗

Quarters

KPI history

Revenue$22.9B+3.1% y/yQ3 FY26
Q1 FY25: $21.6BQ1 25$21.6BQ2 FY25: $22.0BQ2 25$22.0BQ3 FY25: $22.2BQ3 25$22.2BQ4 FY25: $22.2B (worked out from the annual figure)Q4 25$22.2BQ1 FY26: $22.2BQ1 26$22.2BQ2 FY26: $23.5BQ2 26$23.5BQ3 FY26: $22.9BQ3 26$22.9BQ4 FY26: $25.0B (worked out from the annual figure)Q4 26$25.0B

Fourth quarter worked out from the annual figure.

Data
Q1 FY25$21.6B
Q2 FY25$22.0B
Q3 FY25$22.2B
Q4 FY25$22.2B *
Q1 FY26$22.2B
Q2 FY26$23.5B
Q3 FY26$22.9B
Q4 FY26$25.0B *
Diluted EPS (GAAP)$1.21−67.8% y/yQ3 FY26
Q1 FY25: $3.21Q1 25$3.21Q2 FY25: $3.03Q2 25$3.03Q3 FY25: $3.76Q3 25$3.76Q1 FY26: $3.46Q1 26$3.46Q2 FY26: $4.04Q2 26$4.04Q3 FY26: $1.21Q3 26$1.21
Data
Q1 FY25$3.21
Q2 FY25$3.03
Q3 FY25$3.76
Q1 FY26$3.46
Q2 FY26$4.04
Q3 FY26$1.21

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin4.7%−1.1 pts y/yQ3 FY26
Q1 FY25: 5.0%Q1 255.0%Q2 FY25: 4.8%Q2 254.8%Q3 FY25: 5.8%Q3 255.8%Q4 FY25: 8.1%Q4 258.1%Q1 FY26: 5.3%Q1 265.3%Q2 FY26: 5.9%Q2 265.9%Q3 FY26: 4.7%Q3 264.7%Q4 FY26: 6.2%Q4 266.2%
Data
Q1 FY255.0%
Q2 FY254.8%
Q3 FY255.8%
Q4 FY258.1%
Q1 FY265.3%
Q2 FY265.9%
Q3 FY264.7%
Q4 FY266.2%
Free cash flow$1.0B+2.3% y/yQ3 FY26
Q1 FY25: $420.0MQ1 25$420.0MQ2 FY25: $500.0MQ2 25$500.0MQ3 FY25: $1.0BQ3 25$1.0BQ4 FY25: $1.0BQ4 25$1.0BQ1 FY26: $1.1BQ1 26$1.1BQ3 FY26: $1.0BQ3 26$1.0BQ4 FY26: $1.8BQ4 26$1.8B
Data
Q1 FY25$420.0M
Q2 FY25$500.0M
Q3 FY25$1.0B
Q4 FY25$1.0B
Q1 FY26$1.1B
Q3 FY26$1.0B
Q4 FY26$1.8B

Operating cash flow minus capital expenditure, from cash flow statements.

Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26
Revenue$21.6B$22.0B$22.2B$22.2Bd$22.2B$23.5B$22.9B$25.0Bd
Operating income$1.1B$1.1B$1.3B$1.8Bd$1.2B$1.4B$1.1B$1.6Bd
Operating margin5.0%4.8%5.8%8.1%5.3%5.9%4.7%6.2%
Net income$794.0M$741.0M$909.0M$1.6Bd$824.0M$956.0M$290.0M$1.6Bd
Diluted EPS$3.21$3.03$3.76—$3.46$4.04$1.21—
Operating cash flow$1.2B$1.3Bd$2.0Bd$2.5Bd$1.7B—$2.0Bd$3.3Bd
Capital expenditure$767.0M$818.0Md$997.0Md$1.5Bd$623.0M—$955.0Md$1.5Bd
Free cash flow$420.0M$500.0M$1.0B$1.0B$1.1B—$1.0B$1.8B

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings