FedEx (FDX) Q4 2026 earnings

FedEx on Tuesday reported earnings that beat Wall Street expectations on the top and bottom lines.

The earnings report marked the last quarter that includes the company’s freight business, which spun off into a separate publicly traded company called FedEx Freight on June 1. The company said FedEx Freight paid a cash dividend of roughly $4.1 billion to FedEx Corporation in connection with the spinoff.

Shares of FedEx dipped roughly 6% in extended trading.

Here’s how the company performed in its fiscal fourth quarter compared with what analysts were expecting, according to a survey by LSEG:

• Earnings per share: $6.31 adjusted vs. $5.96 expected
• Revenue: $25.01 billion vs. $24.04 billion expected

For the period ended May 31, FedEx reported FedEx Express revenue of $21.57 billion, beating StreetAccount estimates of $20.75 billion. The company reported a 3% year-over-year increase in domestic volume and a 3% increase in U.S. priority volume.

In the fourth fiscal quarter, FedEx reported net income of $1.6 billion, or $6.60 per share, compared with $1.65 billion, or $6.88 per share, in the year-ago period. Adjusting for one-time costs, including the spin-off and retirement plan adjustments, the company reported earnings per share of $6.31.

For the full fiscal year, FedEx reported revenue of $94.7 billion, up from $87.9 billion the year prior.

“The momentum you’re seeing across our business is proof that our strategy is working,” CEO Raj Subramaniam said on a call with analysts. “It’s translating to favorable financial outcomes, including very strong free cash flow and FY ’26 results that far exceeded our initial FY ’26 outlook.”

The company also said it will now change its fiscal year end from May 31 to Dec. 31, effective earlier this month.

For the full year, FedEx said it expects 11% year-over-year revenue growth and adjusted diluted earnings per share of between $16.90 to $18.10.

FedEx saw fuel costs rise from $864 million last year to $1.43 billion this year, marking a 66% jump. Company executives said on the call with analysts that FedEx has not seen an impact to demand due to fuel prices.

The company also said it saw U.S. pricing rise 10%.