Earnings Releases·Oct 28, 2026, 4:05 PM ET

FedEx Corporation — Q1 & Q2 2026 (Transition Period) Earnings Summary

**Financial Performance:** Revenue and net income surged in Q2 2026 ($22.9B and $6.1B, respectively) compared to Q1 ($20.8B and $776M), driven primarily by a $4.5B gain on retained FedEx Freight investment and discontinued operations, while organic operating income rose from $919M to $1.3B.
**Strategic Transactions:** Completed the June 1, 2026, spin-off of FedEx Freight (retaining 19.9% interest) and the October 1, 2026, sale of FedEx Supply Chain to CMA CGM for $1.4B, resulting in the reclassification of these units as discontinued operations.
**Structural Changes:** Transitioned to a calendar-year fiscal basis ending December 31, 2027, and realigned reporting segments to separate Express U.S. Domestic and Express International, with no impact on consolidated financial results.
**Future Outlook:** Management targets carbon-neutral operations by 2040 and anticipates cost reductions from stranded cost eliminations and transition services agreements following the freight spin-off.