AI-extracted from the 10-K filed 2026-07-20 — FY2026 (year ended May 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
FedEx reported $94.7B revenue (+8% YoY) with consolidated operating income of $5.5B (+5% YoY), while executing spin-off of FedEx Freight completed June 1, 2026.
Biggest Revenue Drivers
FedEx Freight segment$8.8B-1% YoY
Lower volume from macroeconomic conditions, partially offset by higher fuel surcharges and base yield improvement.
Corporate, other, and eliminations$3.8B-2% YoY
Lower demand at FedEx Logistics and reduced FedEx Office activity.
Biggest Revenue Drivers
Total revenue: $94.7B+8% YoY
FedEx Freight segment$8.8B-1% YoY
Lower volume from macroeconomic conditions, partially offset by higher fuel surcharges and base yield improvement.
Corporate, other, and eliminations$3.8B-2% YoY
Lower demand at FedEx Logistics and reduced FedEx Office activity.
Volume-related costs to support higher package volume and contracted service provider rate increases.
Fuel$4.1B+7% YoY
Higher fuel prices, partially mitigated by indexed fuel surcharges linked to market prices.
Other operating expenses$14.0B+8% YoY
Increased credit losses, higher outside service contracts and professional fees, and unfavorable exchange rates.
Margins: Consolidated operating margin declined 10 basis points to 5.8% in 2026 despite 8% revenue growth, as higher salaries, employee benefits, and purchased transportation expenses offset improved yields and fuel surcharges. Federal Express margin expanded 70 basis points to 7.2% on operational improvements, while FedEx Freight margin contracted sharply 970 basis points to 7.0% due to lower volumes from macroeconomic headwinds.
Watch Items from the Filing
Spin-Off completed June 1, 2026; FedEx retained 19.9% equity stake in FedEx Freight and committed to divest within 24 months. Uncertainty regarding divestiture timing, proceeds, and trading price of FedEx Freight shares.
Tariff refund claims: FedEx filed $3.3B in IEEPA tariff refund claims through CBP; received $800M cash refunds as of May 31, 2026. Recorded $749M customer refund liability. Timing and ultimate amount of remaining refunds uncertain.
MD-11 aircraft grounding: FAA emergency airworthiness directive in November 2025 grounded entire MD-11 fleet, causing operational disruptions during fiscal 2026. Fleet expected fully operational by end of calendar 2026.
Macroeconomic headwinds: Decline in U.S. consumer goods imports since late 2022, elevated inflation, and elevated interest rates continue to negatively affect volumes and business conditions through remainder of calendar 2026.
Pilot CBA ratified June 9, 2026; took effect June 29, 2026; amendable December 2030. Higher pilot compensation expected to increase costs in remainder of calendar 2026 and beyond.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Edmunds Mark ADirectorGrant or award · Jun 25, 2026
Martin R BradExecutive ChairmanGrant or award · Jun 25, 2026
Congress trading in FDX
45 transactions in FDX reported by 16 members of Congress under the STOCK Act, most recent trade Oct 8, 2026. Reported transactions, not recommendations.
About FEDEX CORP (FDX): stock profile, AI score and financials
FEDEX CORP (FDX) stock profile, AI quality score, and SEC EDGAR financial data, a Industrials sector company. 13F Pro's AI-powered ranking engine scores FDX at 60.2/100 on a composite quality score built from its SEC filings, placing it at rank #876 of 2,925 stocks — the top half of the AI-ranked universe. FDX scores in the top quartile across revenue scale (98.4). Areas of concern include revenue growth (39.0), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q4 2026), FEDEX CORP reports quarterly revenue of $25.0B, net income of $1.6B, an operating margin of 6.2%. Top institutional holders of FDX by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. FDX trades on the NYSE exchange and files with the SEC under CIK 1048911. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FDX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FEDEX CORP directly from SEC EDGAR.