FedEx Corp ( FDX ) delivered its financial results for the first quarter of fiscal 2026 on Thursday after the bell. Here’s a look at the key details from the report.

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Q1 Highlights: FedEx ( FDX ) reported first-quarter revenue of $22.2 billion, beating analyst estimates of $21.67 billion, according to Benzinga Pro. The company reported first-quarter adjusted earnings of $3.83 per share, beating estimates of $3.62 per share.

Operating results for the company’s Federal Express segment improved during the quarter, driven by higher U.S. domestic and international priority package yields, continued cost savings and increased U.S. domestic package volume. 

Meanwhile, the company’s Freight segment decreased due to lower revenue, higher wage rates and the hiring of additional dedicated LTL sales professionals. FedEx ( FDX ) said its planned spin-off of FedEx Freight is expected to be executed by June 2026.

FedEx ( FDX ) said it completed $500 million of share repurchases during the quarter. The company had $1.6 billion remaining on its buyback as of the end of August. The company had approximately $6.2 billion of total cash on hand as of Aug. 31.

“Our strategic initiatives, paired with our unique operational data platform from moving 17 million packages through our network daily, position us well to serve our customers in any environment and to create long-term value for our stockholders,” said Raj Subramaniam, president and CEO of FedEx ( FDX ).

What’s Next: FedEx ( FDX ) expects revenue to be up 4% to 6% on a year-over-year basis in fiscal 2026. The company also reaffirmed plans for permanent cost reductions of $1 billion from structural cost reductions and the advancement of Network 2.0.

FedEx’s management team will further discuss the quarter on an earnings call with investors and analysts at 5:30 p.m. ET.

FDX Price Action: FedEx ( FDX ) shares were up 6.46% in after-hours Thursday, trading at $241.14 at the time of publication, according to Benzinga Pro.

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