FDX
FedEx Corporation282.46
+1.23+0.44%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Q&A details Q4 nuances, calms geo fears
Q&A largely reaffirms prepared remarks' upbeat tone, with management calmly addressing Middle East tensions as minimal revenue drag while expecting Q3 demand trends to hold into Q4. They detailed why Q4 EPS won't step up sharply sequentially—peak profitability is now the new standard. Freight execs confirmed ongoing separation investments and a completed sales team hire, but deferred deeper outlook to April 8 Investor Day. Amazon onboarding adds non-material volume. Peak profits set new bar. Investors will watch Freight spin execution and sustained B2B yields amid LTL weakness.
Key Stats
Market Cap
66.65BP/E (TTM)
16.56Basic EPS (TTM)
17.06Dividend Yield
0.02%Recent Filings
8-K
Strong Q3, raised FY26 EPS
10-Q
Q3 FY2026 results
FedEx revenue climbed 8% y/y to $24B in Q3 FY2026 ended February 28, fueled by 10% Federal Express growth from higher U.S. domestic package volumes and priority yields, yet FedEx Freight shipments dropped 5% on weak industrial demand. Operating income edged up 4% to $1.3B despite $202M separation costs for the planned FedEx Freight spin-off by June 2026 and $65M business optimization expenses, with margins dipping to 5.6%. Cash swelled to $8B plus $3.7B restricted from Freight notes, operating cash flow hit $5.7B (FCF $3.3B derived), total debt $25.3B at 3.76% average rate, revolver fully available. Diluted EPS rose 17% to $4.41 on 239M shares. Spin-off execution dominates.
8-K
FedEx tweaks exec LTI plans
FedEx amended its FY25–FY27 and FY26–FY28 long-term incentive plans on March 9, 2026, to account for the FedEx Freight spin-off on June 1, 2026, and fiscal year-end shift to December 31. Plans now blend actual FY26 performance with target levels for later years—67% actual/33% target for the first, reversed for the second. Payouts hit post-May 2027 or 2028. Adjustments shield NEOs from spin-off disruptions.
8-K
FedEx joins InPost takeover
FedEx, with Advent, A&R Investments, and PPF, announced a conditional all-cash offer for InPost shares at €15.60 each on February 9, 2026. FedEx's 37% stake values its investment at $2.6 billion, funded from cash or liquidity. InPost stays standalone; post-close commercial deals leverage strengths. Regulatory approvals pending.
8-K
FedEx subsidiary issues $3.7B notes
FedEx's wholly owned subsidiary FedEx Freight Holding issued $3.7B in senior notes on February 5, 2026: $1B 4.300% due 2029, $1B 4.650% due 2031, $700M 4.950% due 2033, and $1B 5.250% due 2036. Initially guaranteed by FedEx and FedEx Freight, but FedEx's guarantee releases post Spin-Off distributing 80.1% of Issuer's stock. Notes rank equally with existing debt. Spin-Off success uncertain.
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