FedEx Corporation (FDX) Earnings Call Transcripts

FedEx Corporation's Latest Earnings Call - Q3 FY2026

In the third quarter of calendar year 2026, FedEx Corporation reported a 12% year-over-year revenue growth, reaching $22.4 billion, and a 28% increase in adjusted earnings per share (EPS) to $3.74. The company raised its full-year adjusted EPS guidance to a range of $18 to $18.60, reflecting a strong performance driven by B2B and premium B2C segments. Management highlighted ongoing network optimization and strategic actions that are expected to enhance profitability and free cash flow, with an outlook of approximately $4 billion in adjusted free cash flow for the year.

Reported metrics

Guidance from management

FedEx expects full-year revenue growth of approximately 12%, with Q4 projected to show 10% revenue growth. The adjusted EPS outlook has been raised to a range of $18 to $18.60, reflecting strong operational performance.

What management said

I appreciate it, Raj. As we said before, to preserve the tax-efficient status of the separation, we're required to monetize the stake within 24 months of the spin date. And we're, as Raj said, we're going to deploy that capital to maximize shareholder value. As I said last quarter, really that Raj's leadership, we're bringing the same level of discipline and rigor to the balance sheet and shareholder returns that we'...

Yes, I'll start and then turn it over to Brie. I've talked about a lot of the items. A couple of additional items that I'll add is -- you got to remember, we'll still have the pilot contract in the first half of CY '27. So that headwind will abate in the second half. Also, if you look all the way to Q4 of next year, we'll have one less operating day, so that will be another $150 million-plus headwind. And then, like ...

What analysts pressed on

Analysts expressed concerns regarding the sustainability of U.S. Domestic margins amid rising transportation costs and the impact of the new pilot agreement. They questioned how these factors would affect future earnings growth and margin expansion.

Main topics on the call

• Revenue Growth and Performance — FedEx achieved a 12% revenue increase in Q3, supported by strong base yields and volume growth in both U.S. Domestic and International segments. Management stated, "We grew revenue by 12%, supported by strong base yields...
• Adjusted EPS Guidance Raised — The company raised its adjusted EPS guidance for the full year to a range of $18 to $18.60, indicating a projected 23% growth year-over-year. Raj Subramaniam noted, "We are raising and tightening our CY 26 outlook to $18...
• Strong Free Cash Flow Generation — FedEx is on track to generate approximately $4 billion in adjusted free cash flow for the calendar year, reflecting disciplined capital allocation and operational efficiency. Claude Russ mentioned, "We continue to expect...
• Network Optimization Initiatives — Management highlighted significant progress in their Network 2.0 initiative, with nearly 65% of eligible volume flowing through optimized stations. They expect this to lead to nearly $1 billion in savings by the end of t...

Read the full FedEx Corporation transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 42 FedEx Corporation earnings call transcripts on record, spanning March 17, 2020 to October 28, 2026. Based on this history, FedEx Corporation reports quarterly. The most recent call on file is dated October 28, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

FDX

Exchange

NYSE

Country

US

Sector

Industrials

Industry

Air Freight and Logistics

Calls on record

42

First call

March 17, 2020

Most recent

October 28, 2026

Reporting cadence

quarterly