Form 10-Q · Quarterly report
FedEx 10-Q, filed Oct 28, 2026
- Filed
- CIK
- 0001048911
- Accession no.
- 0001048911-26-000131
Summary
FedEx reported 12% revenue growth and 10% higher operating income for the three months ended September 30, 2026, while net income fell 55% to $290 million amid a $1.2 billion non-deductible loss on its 19.9% ownership interest in FedEx Freight; for the four-month period, net income rose to $5.33 billion on a $3.3 billion non-taxable gain tied to that stake. FedEx also repurchased $2.0 billion of stock over four months, said it expects continued year-over-year revenue and operating profit growth for the rest of calendar 2026, and is awaiting a Sixth Circuit decision in its Tax Cuts and Jobs Act transition-tax dispute with the U.S. government.
Key points
- Three-month revenue was $22.855 billion and four-month revenue was $30.642 billion; consolidated operating income was $1.067 billion and $1.611 billion, respectively.
- Three-month diluted EPS was $1.21, down from $2.73 a year earlier; four-month diluted EPS was $22.21, up from $3.14.
- FedEx repurchased 6.3 million shares for $2.0 billion, averaging $319.68 per share, in the four months ended September 30, 2026, including $0.7 billion in the three-month period.
- FedEx said it targets $1.0 billion in structural cost reductions by the end of calendar 2026 through Network 2.0 and One FedEx, and expects costs from new international operational transformation programs to total $230 million to $260 million.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT’S DISCUSSION RESULTS OF OPERATIONS Many of our operating expenses are directly affected by revenue and volume levels, and we expect these operating expenses to fluctuate on a year-over-year basis consistent with changes in revenue and volumes. Therefore, the discussion of operating expenses focuses on the key drivers and trends affecting expenses other than those factors strictly related to changes in revenue and volumes. …
An excerpt of the text as filed with the SEC, cut for length.
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