FedEx raises full-year forecast after quarterly beat — CNBC

FedEx exceeded Wall Street analysts’ expectations for adjusted earnings and revenue for the quarter ended September 30 and raised its outlook for the full fiscal year. CNBC reports.

Quarterly results

The company’s adjusted earnings were $3.74 per share, compared with analysts’ forecast of $3.36, according to LSEG survey data. FedEx’s revenue reached $22.86 billion, versus the expected $22.42 billion.

Net income for the quarter totaled $290 million, or $1.21 per share. By comparison, during the same period a year earlier, the company earned $650 million, or $2.73 per share. The adjusted earnings figure accounts for one-time items, including losses from short-term investments, gains from debt extinguishment and certain restructuring costs.

Updated forecast

FedEx raised its full-year adjusted earnings-per-share forecast to a range of $18 to $18.60. Previously, the company expected earnings of between $16.90 and $18.10 per share.

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The company also revised its 2026 revenue growth forecast to approximately 12% year-on-year, while its previous forecast projected 11% growth. FedEx said operating income at its U.S. express division increased due to higher yields and growing shipment volumes.

This is FedEx’s first financial report following a change in its financial calendar: the company moved its year-end from May 31 to December 31. The report was also released after FedEx Freight was spun off into an independent public company. FedEx shares declined slightly in after-hours trading.

Earlier this week, the company appointed former AutoZone senior executive Jamar Jackson as chief financial officer. He will take office on November 30, replacing Claude Roussa, who had served as acting CFO since June 1.