FedEx Tops Forecasts and Lifts Full-Year Outlook in First Report Under New Fiscal Calendar

FedEx reported quarterly results on Wednesday that came in ahead of Wall Street expectations on both revenue and profit, and the company raised its forecast for the full year. Shares edged lower in extended trading after the announcement.

For the period ended Sept. 30, FedEx posted adjusted earnings of $3.74 per share. Analysts surveyed by LSEG had expected $3.36. Revenue reached $22.86 billion, compared with a consensus estimate of $22.42 billion.

On a reported basis, net income for the quarter was $290 million, or $1.21 per share. A year earlier, the company earned $650 million, or $2.73 per share. The adjusted figure excludes one-time items, including losses tied to short-term investments, gains from the extinguishment of debt and certain restructuring costs.

The report is the first for FedEx since it changed its fiscal year, moving the end of its calendar from May 31 to Dec. 31. It also follows the company's successful spinoff of FedEx Freight into a separate publicly traded business.

Within the company's operations, operating income in the express U.S. segment rose during the quarter. FedEx attributed the increase mainly to higher package yields and greater volume.

"As our strong operating results and adjusted free cash flow demonstrate, FedEx is winning across high-value market segments while we optimize our network, driving an increase to our full-year outlook," CEO Raj Subramaniam said in a statement.

FedEx now expects adjusted earnings per share for the full year of between $18 and $18.60. That compares with its earlier range of $16.90 to $18.10. The company also lifted its 2026 revenue growth expectation to roughly 12% year over year, up from the 11% increase it had previously projected.

Separately, FedEx named Jamere Jackson, a former AutoZone executive, as its new chief financial officer earlier this week. He will start Nov. 30 and succeeds Claude Russ, who has been serving as interim CFO since June 1. John Dietrich was announced in April as stepping down from the role.