FedEx Corporation reported its financial results for the fiscal quarter ended September 30, 2026, in an 8-K filing. The company announced a revision to its full-year 2026 earnings outlook, citing strong operating results and increased adjusted free cash flow.
For the third quarter, FedEx reported revenue of $22.9 billion, which remained flat year-over-year. Adjusted operating income was $1.20 billion, representing an adjusted operating margin of 5.3%. Adjusted net income was $0.90 billion, and adjusted diluted earnings per share (EPS) were $3.74. These figures compare to adjusted net income of $0.69 billion and adjusted diluted EPS of $2.93 in the prior year.
During the quarter, FedEx completed the spin-off of its FedEx Freight subsidiary on June 1, 2026, retaining a 19.9% ownership interest. The company also completed the sale of its FedEx Supply Chain subsidiary to CMA CGM Group on October 1, 2026, for a purchase price of approximately $1.4 billion.
In terms of capital returns, FedEx completed $2.0 billion in stock repurchases during the June-September period. As of September 30, 2026, the company held $8 billion in cash and had $4.3 billion remaining available for repurchases under its 2026 authorization.
FedEx also announced a 5.9% average increase in parcel shipping rates effective January 4, 2027.
Regarding the 2026 outlook, FedEx revised its forecast for revenue growth to approximately 12% year-over-year, up from the previous forecast of approximately 11%. The company raised its forecast for diluted EPS (continuing operations) to a range of $35.30 to $35.90. This compares to the previous forecast of $16.55 to $17.75 per diluted share, which excluded certain impacts related to the FedEx Freight investment and gain on debt extinguishment. The company also updated its forecast for adjusted diluted EPS (continuing operations) to a range of $18.00 to $18.60.
