FedEx Corporation · FDX · FY2026 Q1 · Calendar Q3 2025

FedEx posts solid Q1 as domestic parcels offset freight pressure

FedEx's quarter supports a constructive but qualified view: domestic parcel demand, cost savings and network initiatives were positive, while freight weakness, trade-related headwinds and limited operating leverage remain important constraints.

Reported After market closeNYSEIndustrials $68.69B market cap
90quality score

Earnings scorecard

Reported versus consensus
Reported EPS $3.83 Consensus $3.60
EPS surprise +6.4% Reported versus consensus
Reported revenue $22.20B Consensus $21.65B
Revenue surprise +2.6% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +2.3% Event window
SPY move +0.2% Same window
Abnormal move +2.1% Stock minus SPY
Volume 4.3× Versus trailing sessions
Subsequent drift +2.6% Up to 20 sessions
FDXSPY benchmark

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Transcript intelligence

What changed

FedEx delivered 3% year-over-year revenue growth and $200 million of transformation savings, while maintaining FY2026 EPS guidance. The call also highlighted the planned Freight spin-off, data-platform monetization and new commercial initiatives, alongside a $1 billion trade-related headwind.

Guidance delta

FY2026 adjusted EPS guidance was maintained at $17.20-$19.00 per share.

Key takeaways

  • Revenue grew 3% year over year, led by U.S. domestic parcel services
  • Transformation initiatives delivered $200 million in savings
  • Freight faces industrial weakness, while its spin-off remains on track
  • FedEx highlighted its data platform and AI-enabled monetization plans
  • Management maintained FY2026 adjusted EPS guidance of $17.20-$19.00

Management priorities

  • Continue the Network 2.0 rollout and U.S. station optimization
  • Complete the FedEx Freight spin-off and related systems integration
  • Monetize the data platform through AI-driven revenue models
  • Onboard remaining Amazon business and expand large-customer wins
  • Launch the Dublin-Indianapolis flight for health-care and high-value shipments

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Earnings History

Estimate Beat Miss Match
FDX REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $23B Q2 '24 actual $22B, miss Q3 '24 estimate $22B Q3 '24 actual $22B, miss Q4 '24 estimate $22B Q4 '24 actual $22B, beat Q1 '25 estimate $22B Q1 '25 actual $22B, miss Q4 '25 estimate $22B Q4 '25 actual $22B, beat Q1 '26 estimate $22B Q1 '26 actual $22B, beat Q2 '26 estimate $23B Q2 '26 actual $24B, beat Q3 '26 estimate $23B Q3 '26 actual $24B, beat Q4 '26 estimate $23B Q4 '26 actual $25B, beat Q1 '27 estimate $23B Q2 '27 estimate $25B Q3 '27 estimate $22B Q4 '27 estimate $23B
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Analyst Consensus ?

ConsensusBuy47 ratings
Bullish2859.6%
Neutral1634.0%
Bearish36.4%

1 unmapped firm rating excluded from the percentages.

Analyst 52W Price Targets

$290.36Previous close
$140Low
$284.64Average
$479High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 5, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Evercore ISI Group In Line In LineMaintainSep 28, 2026
JP Morgan Overweight OverweightMaintainSep 8, 2026
Truist Securities Buy BuyMaintainJun 25, 2026
UBS Buy BuyMaintainJun 24, 2026
Stifel Buy BuyMaintainJun 24, 2026
Show 43 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $290.36. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Wells FargoAnalyst unavailable$140$289.65 -51.8%Sep 29, 2026
Evercore ISIJonathan Chappell$350$314.13 +20.5%Sep 9, 2026
Raymond JamesPatrick Tyler Brown$330$331.41 +13.7%Aug 28, 2026
Evercore ISIAnalyst unavailable$165$329.44 -43.2%Jun 26, 2026
Truist FinancialAnalyst unavailable$365$316.83 +25.7%Jun 25, 2026
See 139 more

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Company context

Snapshot as of publication

FedEx Corporation is a prominent global entity that delivers an extensive array of services encompassing transportation, e-commerce solutions, and diverse business support, catering to clients both within the United States and across international borders. Its operational structure is divided into several key segments: The FedEx Express division specializes in expedited shipping, offering rapid package and freight delivery, crucial time-sensitive logistics, and comprehensive cross-border, technological, and e-commerce transportation services. FedEx Ground focuses on reliable, scheduled delivery services for both commercial clients and individual households.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-10-05T09:50:43.629626+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-05T09:50:43.626943+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-05. For educational purposes only; not investment advice.