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FedEx FDX Q2 2026 earnings

Reported December 18, 2025 · After market close

Revenue$23.5BBeat by $686.2M
EPS$4.82Beat by $0.70
Revenue estimate$22.8B
EPS estimate$4.12

Next report

Oct 28, 2026 (In 3 weeks)
Revenue estimate$22.6B
EPS estimate$3.45

Financials

Q2 2026

Income statement

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Revenue$23.5B+6.8%
Operating income$1.4B+31.0%
Net income$956.0M+29.0%
EPS (diluted)$4.04+33.3%

Balance sheet

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Cash & equivalents$6.6B+30.6%
Total debt$38.6B+2.5%
Total equity$28.1B+6.3%
Total assets$89.2B+4.3%

Cash flow

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Operating cash flow$2.0B+48.0%
CapEx$757.0M-7.5%
Free cash flow$1.2B+139%

Valuation & ratios

Valuation

as of 11/30/25
See full
Market cap$65.05B-12.0%
Enterprise value$97.12B-8.9%
P/E15×-4.0×
P/S0.7×-0.1×

Profitability

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Operating margin6.3%+0.6pp
Net margin4.8%+0.4pp
FCF margin4.8%+1.8pp

Returns & leverage

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Return on equity15.9%+1.3pp
Debt / equity1.4×-0.1×
Current ratio1.3×0.0×

Segments

By product

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U.S. ground$9.2B+11.1%
U.S. priority$2.8B+10.9%
International priority$2.4B+6.8%
International economy$1.5B-4.8%
U.S. deferred$1.4B+16.4%

By segment

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Total Federal Express segment$20.4B+8.4%
FedEx Freight segment$2.1B-1.7%

FAQ

When did FedEx report Q2 2026 earnings?
FedEx (FDX) reported Q2 2026 earnings on December 18, 2025 after market close.
What were FedEx's Q2 2026 revenue and EPS?
FedEx reported revenue of $23.5B and eps of $4.82 for Q2 2026.
Did FedEx beat estimates in Q2 2026?
Revenue beat the consensus estimate of $22.8B by $686.2M. EPS beat the consensus estimate of $4.12 by $0.70.
How did FedEx's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.8% from $22.0B a year earlier and eps grew 19.0% from $4.05.
Where can I find FedEx's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001048911-25-000076) and the 10-Q periodic report (0001048911-25-000078) directly on SEC EDGAR. The filing index links above go to sec.gov.