FedEx Corp

FDX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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FedEx Earnings: Fuel and Base Yields Lift Revenue, but US Domestic Margin Slips

Matthew Young

Oct 29, 2026

Excluding FedEx Freight (spun off on June 1), FedEx's total pro forma revenue grew 12% in third-quarter 2026 (ended September), on surging fuel surcharges, core pricing gains, and higher domestic volumes. This is the firm's first earnings release since shifting to calendar-year reporting.

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FedEx Corp

FedEx Earnings: Fuel and Base Yields Lift Revenue, but US Domestic Margin Slips

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