Sept 18 (Reuters) - FedEx ( FDX ) reported a higher

quarterly profit but forecast 2026 earnings per share that was

largely below analysts' estimates, as it anticipates a hit from

the U.S. decision to end tariff exemptions on low value

direct-to-consumer shipments.

The Memphis-based package delivery company said on Thursday

it expects full-year adjusted earnings in the range of $17.20 to

$19.00 per share, mid-point of which is marginally below

analysts' estimates of $18.21, according to data compiled by

LSEG.

FedEx ( FDX ) since 2023 has worked to slash billions of dollars in

operating costs by parking planes, closing facilities and

merging units. It has a $1 billion cost-savings plan for fiscal

year ended May 2026.

Investors and analysts are watching to see if that will be

enough to offset threats posed by U.S. trade policy and global

economic uncertainties.

The company reported an adjusted profit of $0.91 billion, or

$3.83 per share, for the first quarter ended August 31, up from

$0.89 billion, or $3.60 per share a year earlier.

(Reporting by Lisa Baertlein in Los Angeles and Abhinav Parmar

in Bengaluru; Editing by Shinjini Ganguli)