FedEx reported first-quarter fiscal 2026 revenue of $22.2 billion, topping estimates of $21.67 billion, according to Benzinga. Adjusted earnings came in at $3.83 per share, above expectations of $3.62. Operating results for its Express segment improved, while the Freight segment declined due to higher wage costs and weaker revenue. FedEx confirmed its planned Freight spin-off for June 2026, completed $500 million in buybacks, and ended August with $6.2 billion in cash. The company expects revenue to grow 4% to 6% this fiscal year and reaffirmed $1 billion in permanent cost reductions. Shares rose 6.46% in after-hours to $241.14.
