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Get filing alertsFedEx reports 13% Q4 revenue growth, completes Freight spin-off with $4.1B dividend
Filed June 23, 2026 · Period ending June 23, 2026 · ~1 min read
Key Changes
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Q4 FY2026 revenue rose 13% YoY to $25.0B; adjusted diluted EPS $6.31 vs. $6.07 prior year, driven by higher package yields, cost savings, and volume growth. Full-year revenue up 8% to $94.7B.
Exhibit 99.1 view on EDGAR → -
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FedEx Freight spin-off completed June 1, 2026; FedEx Corp received $4.1B cash dividend funded by Freight's debt issuances. Ending cash balance $13.3B includes this dividend.
Exhibit 99.1 view on EDGAR → -
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CY2026 guidance (7-month transition): ~11% revenue growth, adjusted diluted EPS $16.90–$18.10, $3.9B capex focused on network optimization and automation.
Exhibit 99.1 view on EDGAR → -
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Fiscal year end changed from May 31 to December 31, effective June 1, 2026, aligning FedEx with calendar-year reporting.
Exhibit 99.1 view on EDGAR → -
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FY2026 capital return: $2.2B via $776M buybacks and $1.4B dividends. CY2026 plans: 5% dividend increase (spin-adjusted) and up to $1B opportunistic buybacks.
Exhibit 99.1 view on EDGAR →
Summary
FedEx delivered strong fourth-quarter results with revenue up 13% year-over-year to $25.0 billion and adjusted EPS of $6.31, reflecting operational improvements and volume gains. The company simultaneously completed its long-anticipated FedEx Freight spin-off on June 1, 2026, receiving a $4.1 billion cash dividend that bolsters its balance sheet to $13.3 billion in cash.
This capital will be deployed in a manner preserving the transaction's tax-free status, likely supporting the announced $1 billion buyback authorization and 5% dividend increase for calendar 2026. The fiscal year change from May 31 to December 31 creates a seven-month transition period (June–December 2026) for which management issued guidance: approximately 11% revenue growth and adjusted EPS of $16.90–$18.10.
Capital spending of $3.9 billion will prioritize network optimization, fleet modernization, and automation—investments aimed at sustaining margin expansion post-spin. With Freight now a separate entity, FedEx's continuing operations focus on express and ground logistics, where yield improvements and transformation initiatives drove the strong FY2026 performance. The guidance assumes no further economic or geopolitical shocks and successful execution of the buyback program.
Section-by-Section Diff
Event · Exhibit 99.1
FedEx reported Q4 FY2026 results with 13% revenue growth, completed FedEx Freight spin-off receiving $4.1B dividend, and issued CY2026 guidance.
Added in current filing · view on EDGAR →
Revenue $25.0 billion $25.0 billion $22.2 billion $22.2 billion Operating income $1.55 billion $2.09 billion $1.79 billion $2.02 billion Operating margin6.2%8.4%8.1%9.1% Net income $1.60 billion $1.53 billion $1.65 billion $1.46 billion Diluted EPS $6.60$6.31$6.88$6.07
FedEx reported fourth quarter fiscal 2026 revenue of $25.0 billion, up 13% year-over-year from $22.2 billion. Adjusted diluted EPS was $6.31 versus $6.07 prior year, reflecting higher U.S. Domestic and International Priority package yields, cost savings from transformation initiatives, and increased package volumes. Full-year fiscal 2026 revenue reached $94.7 billion, up 8% from $87.9 billion, with adjusted diluted EPS of $20.24 versus $18.19 prior year.
Added in current filing · view on EDGAR →
In January 2025, the FedEx Board of Directors approved a change in the company’s fiscal year end from May 31 to December 31. The fiscal year change became effective for the period beginning June 1, 2026.
FedEx changed its fiscal year end from May 31 to December 31, effective June 1, 2026. This creates a seven-month transition period (June through December 2026) for which the company has issued separate guidance. The change aligns FedEx with a calendar-year reporting cycle.
Added in current filing · view on EDGAR →
Revenue Growth~11% YoY Diluted EPS (Continuing Operations) $16.55 to $17.75Prior to CY 2026 additional MTM adjustments for retirement plan accounting, and adjustments related to MTM accounting for the FedEx Freight investment and utilization of the FedEx Freight spin-off dividend. Adjusted Diluted EPS (Continuing Operations) $16.90 to $18.10 Also excludes MTM adjustments for retirement plan accounting, estimated costs related to the spin-off of FedEx Freight and business optimization initiatives, asset impairment charges, and costs related to the fiscal year change. Effective Tax Rate (ETR)~23%Prior to CY 2026 additional MTM adjustments for retirement plan accounting, and adjustments related to MTM accounting for the FedEx Freight investment and utilization of the FedEx Freight spin-off dividend. Pension Contributions $475 million Capital Spending $3.9 billionPrioritizes investments in network optimization and efficiency improvement, including fleet and facility modernization and automation.
For calendar year 2026 (the seven-month transition period), FedEx forecasts approximately 11% revenue growth year-over-year, adjusted diluted EPS from continuing operations of $16.90 to $18.10, an effective tax rate of approximately 23%, and capital spending of $3.9 billion. The guidance reflects FedEx Freight as discontinued operations and assumes successful completion of planned stock repurchases and no additional adverse economic or geopolitical developments.
Event · Item 2.02 — Results of Operations and Financial Condition
FedEx disclosed Q4 and full-year FY2026 financial results via press release dated June 23, 2026.
Added in current filing · verify on EDGAR →
Attached as Exhibit 99.1 and incorporated herein by reference is a copy of FedEx Corporation’s press release, dated June 23, 2026, announcing its financial results for the fiscal quarter and year ended May 31, 2026.
FedEx announced financial results for its fourth fiscal quarter and full fiscal year ended May 31, 2026. The 8-K itself does not contain the actual financial figures; those are in the attached press release (Exhibit 99.1), which is not included in this filing body.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 23, 2026 · How we verify