FedEx said daily US package volumes grew 6%, helping overall results
FedEx beat Wall Street’s expectations in its latest quarterly earnings, lifting its stock more than 5% in after-hours trading on Thursday.
The company posted adjusted earnings of $3.83 per share, higher than the $3.59 expected, and revenue of $22.24 billion, topping the $21.66 billion forecast.
Net income rose to $820 million from $790 million a year ago, while adjusted profit stood at $910 million.
FedEx said daily US package volumes grew 6%, helping overall results. However, its freight unit struggled due to higher wages and lower revenue.
CEO Raj Subramaniam said the company faced $150 million in challenges from global trade changes, including the end of a duty-free rule known as the “de minimis” exemption, which led to slightly higher shipping fees.
Looking ahead, FedEx expects full-year earnings of $17.20–$19 per share and still plans to spin off its freight unit by June 2026.