FedEx CorporationNYSE: FDX
Industrials · Air Freight & Logistics
$394.19
-2.26%
Vol: 773K
Research Digest
Friday, May 1, 2026
FedEx Q3 FY26 EPS beat by 27%, raised FY26 outlook; June 1 FedEx Freight spin-off on track.
FedEx reported strong Q3 FY26 (March 19) with adjusted EPS of $5.25 (+27% beat), revenue +8.3% YoY to $24B. Raised FY26 EPS guidance to $19.30-$20.10, driven by $2.2B in DRIVE restructuring savings. FedEx Freight spin-off into separately traded company (FDXF) on track for June 1, 2026. CFO John Dietrich stepping down post-spinoff, Claude Russ interim CFO. Conditional all-cash offer to take InPost private at EUR15.60 per share. Consensus Buy, $376.67 PT.
Previous Market Intelligence
13 daysApr 30FedEx raised fiscal 2026 outlook to 6.0%-6.5% revenue growth; planning June 1 FedEx Freight spin-off and MD-11 aircraft reactivation in May.Positive▶
FedEx reported Q3 revenue of $24.0B with adjusted EPS of $5.25 and raised fiscal 2026 guidance, projecting 6.0%-6.5% revenue growth with >$1B permanent cost reductions. The company is on track to spin off FedEx Freight on June 1, 2026 and plans to reactivate MD-11 freighter aircraft in May pending regulatory approval. A weather disruption at Memphis hub caused potential delivery delays for commitments of April 29. FedEx and UPS committed to returning tariff refunds to customers. Analyst consensus is Buy with $376.67 price target.
Apr 16FedEx CFO John Dietrich steps down June 1 upon completion of Freight spin-offPositive▶
FedEx announced CFO John Dietrich will step down June 1, 2026 upon successful completion of FedEx Freight spin-off (on track for June 1, 2026). Company reported strong Q3 fiscal 2026 results and raised full-year earnings outlook, forecasting 6.0%-6.5% revenue growth. FedEx launched new SameDay Local service with two-hour delivery windows. Pilots tentative contract agreement could raise pay by nearly 40%. Contingency measures implemented for Middle East shipments due to geopolitical tensions.
Apr 15FedEx CFO John Dietrich stepping down June 1 following strong Q3 beat and freight spinoff guidance.Positive▶
FedEx reported strong Q3 2026 results on March 19, beating expectations with adjusted EPS of $5.25 vs. $4.09 expected and revenue of $24B vs. $23.43B. The company raised fiscal 2026 guidance to $19.30-$20.10 EPS. FedEx Freight spinoff is on track for June 1 with targeted 12% operating margin. CFO John Dietrich will step down June 1, with Claude Russ serving as interim CFO.
Apr 14FedEx Freight spinoff on track for June 1, 2026 under ticker FDXF; stock rallied 4.1% on geopolitical de-escalation.Mixed▶
FedEx rallied 4.1% on April 8 following U.S.-Iran ceasefire reopening Strait of Hormuz, easing fuel surcharges. Planned FedEx Freight spinoff remains on schedule for June 1, 2026 as largest North American LTL carrier. Wall Street Zen downgraded from Strong Buy to Buy on April 12. Average analyst rating is Buy with $376.67 price target.
Apr 13FedEx raises FY26 guidance on Q3 beat, reaches tentative pilot contract, and confirms June 1 FedEx Freight spinoff.Positive▶
FedEx reported Q3 revenue of $24B (beat $23.42B estimate) and raised FY26 adjusted EPS guidance. Company projects 6.0-6.5% revenue growth, >$1B permanent cost reductions. Pilots reached tentative 5-year deal with 40% pay increase after federal mediation. FedEx Freight spinoff confirmed for June 1, 2026. Bernstein raised target to $470 from $457.
Apr 10FedEx Freight targets June 2026 spinoff with 12% operating margin and 4-6% revenue growth guidance.Positive▶
FedEx Freight, separating June 1, 2026, projects 12% operating margin for 2026 with $8.7B revenue and $1.1B adjusted operating income. Stock rallied 4.1% after U.S.-Iran ceasefire reduced shipping costs. FedEx completed Form 10 registration filing. FDX up 2.54% on spinoff strategy announcement despite contractor liability concerns.
Apr 9FedEx Freight spinoff set for June 1 with 10-12% projected profit growth and geopolitical tensions easing boost logistics costs.Positive▶
FedEx Freight held inaugural Investor Day ahead of planned June 1 spinoff, projecting 10-12% average profit growth and 6% revenue growth with over $1B free cash flow. FedEx shares jumped 4.1% as U.S.-Iran ceasefire caused WTI crude to drop below $94/barrel, reducing global logistics operating costs significantly. Company is prioritizing premium growth in high-margin verticals and scaling digital/AI capabilities. FedEx raised full-year profit forecast as network restructuring gains traction. Spinoff is subject to board approval and customary conditions.
Apr 8FedEx faces brand reputational risk as former driver pleads guilty in 2022 child murder caseNegative▶
Former FedEx driver Tanner Horner entered a guilty plea in the 2022 killing of 7-year-old Athena Strand in Texas, creating reputational concerns for the brand. The case elevates questions around driver oversight and safety practices. FedEx is also managing operational challenges including fuel surcharges amid rising costs and a lawsuit against the Trump administration over illegal tariffs. The company is undertaking network optimization and premium mix strategies, with 13.9% revenue growth and $4.82 EPS. Despite reputational headwinds, analyst sentiment remains bullish with Argus raising price target to $400 from $350.
Apr 7FedEx raises FY2026 revenue guidance to 6-6.5%; Freight spinoff on track for June 1Positive▶
FedEx revised FY2026 guidance upward to 6.0-6.5% revenue growth (from 5-6%) and raised adjusted EPS to $19.30-20.10. FedEx Freight spinoff confirmed for June 1, 2026 with Investor Day in NYC April 8. However, FedEx Freight unit guidance lowered due to challenging conditions. Company launching FedEx SameDay Local service for time-definite delivery. InPost acquisition: consortium (FedEx, Advent International, A&R Investments, PPF Group) reached conditional all-cash offer at €15.60/share, closing expected H2 2026. Argus Research raised FDX PT 14.29% to $400.
Apr 6FedEx raises FY2026 guidance with strong Q3 results; Freight spin-off on track for June 1Positive▶
FedEx reported strong Q3 FY2026 results with 8% YoY revenue increase, adjusted operating income of $1.68B (beat $1.39B est.), and raised full-year adjusted EPS guidance to $19.30-20.10 from $17.80-19. The company revised FY2026 revenue growth guidance to 6.0-6.5% YoY. FedEx Freight spin-off remains on track for June 1, 2026, with $3.7B senior notes issued Feb 5. At 2026 Investor Day, FedEx announced $2B cumulative Network 2.0 and One FedEx savings target by end of 2027. The company also completed conditional agreement to take InPost private at €15.60/share with Advent International and others. FedEx launched FedEx SameDay Local for 2-hour delivery windows. Stock trades at $361.63. The operational transformation and spin-off execution demonstrate strong execution and improving profitability trajectory.
Apr 3FedEx raises FY 2026 EPS guidance to $19.30-20.10 after strong Q3 results; Freight spin-off on track for June 1, 2026.Positive▶
FedEx delivered strong Q3 results with 8% revenue growth to $24.0B and raised fiscal 2026 adjusted EPS guidance from $17.80-19.00 to $19.30-20.10. Company is executing Network 2.0 transformation with $2B cumulative savings achieved. Launched FedEx SameDay Local. FedEx Freight spin-off remains on track for June 1, 2026.
Apr 2FedEx raises FY2026 guidance to $19.30-20.10 EPS after strong Q3 beating estimates as Network 2.0 integration accelerates cost savings.Positive▶
FedEx reported Q3 2026 adjusted EPS $5.25 (beat $4.09 consensus) and revenue $24B (beat $23.43B) with 8% YoY revenue growth. Company raised full-year guidance to $19.30-20.10 EPS from $17.80-19 and projects 6-6.5% revenue growth. Network 2.0 cost savings now expected to exceed $1B. FedEx Freight spin-off on track for June 1, 2026. FedEx SameDay Local launched for 2-hour delivery windows. InPost privatization conditional agreement at EUR 15.60/share announced Feb 9.
Apr 1FedEx filing Form 10 for planned FedEx Freight spin-off on June 1, 2026; raised fiscal 2026 guidance with strong Q3 earnings growth.Positive▶
FedEx announced filing of Form 10 for planned spin-off of FedEx Freight, expected June 1, 2026. Freight investor day scheduled April 8. FedEx reported fiscal Q3 revenue of $24.0B (up 8.3% YoY) and adjusted EPS of $5.25. Strategic initiatives include same-day delivery launch with OneRail.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| FDXFEDEX | $394.19 | -2.26% | +12.4% | 18.0x | 1.29 | $96.2B |
| UPSUNITED | $107.46 | -1.23% | +12.0% | 13.7x | 1.10 | $92.4B |
| CHRWC.H. | $177.16 | -2.56% | +7.6% | 25.1x | 0.94 | $21.6B |
| EXPDEXPEDITORS | $147.06 | -0.56% | +1.7% | 22.9x | 1.08 | $19.7B |
| CATCATERPILLAR | $890.93 | +0.09% | +23.4% | 31.8x | 1.52 | $414.2B |
| GEGENERAL | $287.56 | -0.82% | +0.4% | 33.4x | 1.43 | $302.9B |
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