FedEx Corporation
FDX.US Full Coverage
Last updated:
Volume
52W avg
Day Range
52W High
52W Low
Market Cap
Div Yield
Forward P/E
P/B
Headlines
FY2026 Q4
FedEx posted Q4 adjusted EPS of $6.31 and full‑year FY26 adjusted EPS of $20.24, topping the high end of its revised guidance while completing the June 1 spin‑off of FedEx Freight and exceeding its $1 billion savings target. Consolidated revenue grew 12.5% in the quarter and the Federal Express segment’s adjusted operating income rose 13%. Management now projects calendar‑2026 revenue growth of roughly 11% and adjusted EPS of $16.90‑$18.10, implying about 20% EPS acceleration through the June‑December transition.
FY26 Adjusted EPS
$20.24
+11.3%
Q4 Revenue
$25.0B
+12.5%
Q4 FEC Adj. Op. Margin
8.9%
-10 bps
CY26 Adj. EPS Guidance
$16.90 - $18.10
+16.7% at Midpoint
FY26 Adj. Free Cash Flow
$4.7B
+$800M
What We're Watching
Operational
MD-11 Fleet Reintegration
📅
Before Peak Season CY2026
What to Monitor
Confirmation that the full fleet is operational before peak season and commentary on the corresponding reduction in operational costs or network inefficiencies that were incurred during the grounding.
Why It Matters
The grounding was a significant profit headwind in FY26. A successful and timely reintegration should provide a direct tailwind to FEC margins and network efficiency.
Strategic
Stranded Cost Elimination Post-Freight Spin-Off
📅
CY2026 / CY2027
What to Monitor
Progress toward the $100 million cost removal target for CY2026 and any updates on the plan to address the remaining ~$250 million by the end of CY2027.
Why It Matters
Efficiently eliminating these costs is critical to realizing the full margin benefits of the Freight spin-off and validating the strategic rationale for the separation.
Risk
Impact of Global Trade Policy Volatility
📅
Ongoing
What to Monitor
Management commentary on volume and yield trends on key international lanes and the effectiveness of the Tricolor strategy in flexing network capacity in response to trade shifts.
Why It Matters
This is the primary external risk cited by management. The company's ability to navigate trade volatility will be a key determinant of international segment profitability.
Opportunity
AI & Data Center Vertical Growth
📅
Ongoing
What to Monitor
Any quantitative or qualitative updates on the revenue growth rate from this ecosystem and specific examples of converting initial time-critical shipments into larger, repeatable revenue streams.
Why It Matters
This represents a new, high-growth B2B market that plays to FedEx's strengths in premium, time-critical logistics. Sustained momentum could provide a material, high-margin revenue tailwind.
Operational
U.S. Domestic Growth Deceleration
📅
June-Dec '26 Transition
What to Monitor
The rate of deceleration in U.S. domestic volume growth to ensure it aligns with management's expectations of lapping tough comps, versus a more severe slowdown.
Why It Matters
The U.S. domestic market is a core profit driver. A managed slowdown is expected, but a sharper-than-anticipated decline could pressure overall revenue and profit growth.
