FedEx (FDX) Q4 FY26 earnings call

Earnings call· May 2026 (Q4 FY26)· Industrials· Jun 23, 2026

Source: earnings call transcript

FedEx exits FY26 showing its premium-B2B pivot and structural cost-out are compounding — FEC margins expanded to a multi-year high even as fuel, variable comp and the MD-11 grounding cut into flow-through. With Freight spun off June 1 and reporting shifting to a calendar year, management frames the June–December transition as an acceleration year, leaning on disciplined base pricing and network transformation over volume growth while deliberately shedding low-yield freight.

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FDX operating KPIs by quarter

FDX operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Aug 2025 Q1 FY26	Nov 2025 Q2 FY26	Change vs prior quarter
Facilities Network 2.0	~140 We have close to about 140 facilities and integrated 360 stations in the process. Source: earnings call transcript	355 We now have about 24% of our eligible average daily volume flowing through 355 Network 2.0 optimized facilities. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.