FedEx reported third-quarter earnings that surpassed Wall Street expectations on both revenue and earnings per share, marking the company’s first results since shifting its fiscal year end from May 31 to December 31. For the quarter ending September 30, adjusted earnings per share came in at $3.74, compared with the anticipated $3.36, and revenue reached $22.86 billion versus the forecasted $22.42 billion. Despite a net income of $290 million, down from $650 million a year earlier, the adjusted figures reflected strong operational improvements.

This earnings release follows FedEx’s recent move to spin off its FedEx Freight segment into an independent publicly traded company. The company highlighted gains in its Express U.S. segment, attributing the improved operating income to higher package yields and increased volume. CEO Raj Subramaniam expressed confidence in FedEx’s strategy, noting that the firm is performing well in high-value market segments while optimizing its network, which has led to an improved full-year forecast.

FedEx raised its full-year adjusted earnings per share guidance to a range of $18 to $18.60, up from the previous $16.90 to $18.10 range. The company also boosted its revenue growth expectation for 2026 to approximately 12% year-over-year, an increase from the earlier forecast of 11%. These adjustments signal FedEx’s optimistic outlook for continued growth despite prior challenges.

In addition to the financial update, FedEx announced a leadership change, appointing former AutoZone executive Jamere Jackson as its new chief financial officer, effective November 30. Jackson replaces Claude Russ, who has served as interim CFO since June 1, after John Dietrich stepped down earlier this year. This transition is expected to support FedEx’s ongoing efforts to strengthen its financial performance and strategic direction.