FedEx Tops Q3 Estimates, Freight Spin-Off Remains On Track

FedEx Corp (NYSE: FDX) reported third-quarter revenue of $24 billion, surpassing analyst estimates of $23.42 billion, with adjusted earnings of $5.25 per share, exceeding expectations of $4.13 per share. The company noted improvements in its Federal Express segment but a decline in its Freight segment due to increased costs and lower shipments. FedEx is on track for a planned spin-off of its Freight business on June 1 and has raised its fiscal 2026 revenue growth outlook to 6% to 6.5%. Following the earnings report, FedEx shares rose 2.78% in after-hours trading, reaching $367.