FedEx Corp. (NYSE:FDX) on Thursday reported better-than-expected third-quarter financial results and raised its FY26 adjusted EPS guidance above estimates.
The company reported third-quarter revenue of $24 billion, beating analyst estimates of $23.42 billion, according to Benzinga Pro. The company posted third-quarter adjusted earnings of $5.25 per share, beating estimates of $4.13 per share.
"Team FedEx delivered another quarter of strong financial results and excellent service for our customers, powered by disciplined operational execution, the resilience of our global network, and the accelerating impact of our advanced digital solutions," said Raj Subramaniam, president and CEO of FedEx.
FedEx now expects revenue to be up 6% to 6.5% in fiscal 2026, versus prior guidance for growth of 5% to 6%. The company also reaffirmed plans for permanent cost reductions of $1 billion from structural cost reductions and the advancement of Network 2.0.
FedEx expects fiscal 2026 adjusted earnings to be in the range of $19.30 to $20.10 per share, versus estimates of $18.70 per share.
FedEx shares rose 1.7% to trade at $362.20 on Friday.
These analysts made changes to their price targets on FedEx following earnings announcement.
- B of A Securities analyst Ken Hoexter maintained FedEx with a Buy and raised the price target from $431 to $440.
- Wells Fargo analyst Christian Wetherbee maintained the stock with an Overweight rating and raised the price target from $430 to $450.
- Stephens & Co. analyst Reed Seay maintained FedEx with an Overweight rating and raised the price target from $405 to $435.
Considering buying FDX stock? Here’s what analysts think:
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