economy
FedEx beats on top and bottom lines, raises guidance on strong performance
FedEx posted strong fiscal third quarter results on Thursday and raised its guidance following a strong performance.
TL;DR
- FedEx exceeded Wall Street's expectations for fiscal third-quarter earnings and revenue.
- The company raised its revenue growth guidance for fiscal 2026 to 6%-6.5%.
- FedEx reported adjusted earnings per share of $5.25, surpassing the expected $4.09.
- Revenue for the quarter reached $24 billion, exceeding the $23.43 billion estimate.
- The company anticipates cost reductions from its 'Network 2.0' initiative to exceed $1 billion.
- FedEx Freight is on track to be spun off as a separate company on June 1.