Q4 2026 FedEx Corp Earnings Call Transcript

Jun 23, 2026 / 09:00PM GMT

Release Date Price: €284.5 (-1.25%)

Transcript 8-K

Key Points

Positve

FedEx Corp (FDX) exceeded its $1 billion transformation-related savings target for FY26, demonstrating effective cost management.
The company reported a 13% increase in Q4 revenue, driven by yield and volume strength across almost all services.
FedEx Corp (FDX) achieved a 7.7% adjusted operating margin, the highest in four years, reflecting structural improvements.
The spin-off of FedEx Freight positions both companies for success as separate focused industry leaders.
FedEx Corp (FDX) reported strong free cash flow and adjusted earnings per share growth for seven consecutive quarters.

Negative

FedEx Freight's adjusted operating income declined, impacting overall financial results.
The grounding of the MD-11 aircraft fleet posed significant operational challenges.
Higher fuel costs and variable compensation expenses offset revenue gains in Q4.
The company faces ongoing headwinds from global trade policy changes and geopolitical unrest.
FedEx Corp (FDX) anticipates a low-single-digit volume decline within ground economy services.

Operator

Good day, and welcome to the FedEx fourth quarter and fiscal 2026 earnings call. (Operator Instructions) Please note, this event is being recorded.

I would now like to turn the conference over to FedEx Vice President of Investor Relations, Jeni Hollander.

Jenifer Hollander

FedEx Corp - Vice President - Investor Relations

Good afternoon and welcome to FedEx Corporation's fourth quarter earnings conference call. The fourth quarter earnings release and stat books are on our website at investors.fedex.com. This call and the accompanying slides are being streamed from our website.

Today's earnings release includes segment results for FedEx Freight given the separation occurred on June 1 after Q4 FY26 ended. Additionally, as a result of the spinoff, we will not cover FedEx Freight results in detail in our prepared remarks or Q&A session. FedEx Freight will host a separate earnings call on June 25.

(Event Instructions)

Certain statements in this conference call may be considered forward-looking statements as defined in the

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