FedEx reported adjusted earnings of $6.31 per share on $25.01 billion revenue, exceeding analyst expectations before its freight unit separation.
FedEx delivered fiscal fourth-quarter results above Wall Street forecasts, with adjusted earnings of $6.31 per share and revenue of $25.01 billion. The performance surpassed LSEG estimates of $5.96 per share and $24.04 billion revenue, driven by a 3% year-over-year increase in domestic and U.S. priority volumes.
The quarter marked the final period including FedEx Freight, which spun off as a separate public company on June 1. FedEx Corporation received a $4.1 billion cash dividend from the spinoff. FedEx Express revenue reached $21.57 billion, beating StreetAccount estimates of $20.75 billion. Full-year revenue rose to $94.7 billion from $87.9 billion the prior year.
Shares dipped roughly 4% in extended trading following the release. CEO Raj Subramaniam stated the company is positioned for growth while optimizing its network and reducing costs.