FEDEX (FDX) Company Report

Revenue for FY2025 was $2.7 million, a 9.1% increase year-over-year
Net loss widened to $2.2 million from $0.4 million in FY2024
Gross profit improved to $18,211 from $15,897, while G&A expenses rose to $1.6 million (+286%) and R&D expenses reached $0.9 million
Originated $10.0 million in loans receivable, generating $191,475 in interest income during FY2025

5 days ago

Press Release

FedEx investor Lyten finalises Northvolt Sweden acquisition and establishes industrial hub

FDX

M&A

New Projects/Investments

Hiring

Lyten completes $5 billion acquisition of Northvolt Sweden, including Northvolt Ett, Ett Expansion and Northvolt Labs, adding 16 GWh battery capacity and over 160 hectares of industrial assets.
Launches Lyten Industrial Hub in Skellefteå to integrate battery manufacturing with data centers and strategic industrial operations powered by clean hydroelectric energy.
EdgeConneX to acquire Lyten’s Skellefteå data center site with up to 1 GW potential capacity, creating one of Europe’s largest data center campuses.
Plans to restart Northvolt Ett and Labs, with NMC lithium-ion cell production slated for H2 2026 to supply Lyten’s BESS facility in Poland.
Aims to hire 600+ employees over the next 12 months to support production ramp-up in Skellefteå and Västerås.

6 days ago

Press Release

Lyten completes acquisition of Northvolt Sweden, establishes industrial hub

FDX

M&A

New Projects/Investments

Hiring

Lyten has completed the $5 billion acquisition of Northvolt Sweden’s battery assets, including 16 GWh manufacturing capacity and Europe’s largest battery R&D center.
The Lyten Industrial Hub at Skellefteå will co-locate battery manufacturing with AI data centers (site sold to EdgeConneX for up to 1 GW capacity) and complementary industrial operations.
Operations at Northvolt Ett (NMC batteries) and Northvolt Labs (long-life NMC development and lithium-sulfur scale-up) will resume, with cell deliveries expected in 2H 2026.
Lyten plans to hire 600+ employees in Sweden over the next 12 months and is advancing acquisitions in Gdańsk, Poland and Heide, Germany.

6 days ago

Press Release

FedEx Freight incoming CEO John Smith to keynote ACT Expo 2026

FDX

Management Change

John Smith, incoming president & CEO of FedEx Freight, will deliver the opening keynote at ACT Expo 2026 on May 4, 2026 in Las Vegas.
FedEx Freight, North America’s largest LTL network, generated $8.9 billion in revenue in 2025 under Smith’s oversight.
The division will become a separate public company on June 1, 2026, marking a key corporate spin-off.

7 days ago

Press Release

FedEx sues US government over IEEPA tariff refunds

FDX

Legal Proceedings

FedEx filed suit in the U.S. Court of International Trade seeking a full refund and interest for duties paid under Trump-era IEEPA tariffs, which the Supreme Court ruled unlawful.
The complaint names U.S. Customs and Border Protection, its commissioner Rodney Scott, and the United States as defendants.
Law firms warn recovering roughly $175 billion in tariff revenues could be a multi-year process, complicating liquidation status and refund timelines.
FedEx estimated the IEEPA tariffs would dent earnings by about $1 billion in fiscal 2026; in fiscal 2025, revenue was approximately $90.09 billion, with the core FedEx segment at 86% and Freight at 10%.

Feb 23, 2026, 10:57 PM

CNBC

FedEx outlines 2026–2029 strategic plan at Investor Day 2026

FDX

Guidance Update

Takeover Bid

FedEx detailed a three-part transformation—network redesign, digital and AI integration, and ongoing efficiency gains—and set targets of 4% revenue CAGR, 200 bps adjusted operating margin expansion, 14% adjusted operating income CAGR, and $6 billion in adjusted free cash flow by 2029 (ex-Freight).
The company will spin off FedEx Freight in June 2026, leaving FedEx Corp with two reporting segments: U.S. Domestic (≈70% of revenue) and International (≈30%).
FedEx joined a consortium to bid for InPost, a European parcel locker operator, expecting the deal to be accretive to earnings in the first year post-close (targeted H2 2026) while remaining competitor-separate.
Network initiatives include “Tri-Color” air redesign and “Network 2.0” surface integration, already delivering ~10% lower pickup & delivery costs in U.S. and ~20% higher hub productivity in Europe.
2029 financial targets include $8 billion in operating income, an 8% operating margin, and $25 GAAP EPS (ex-Freight), up from a FY 2026 baseline of $5 billion income, 6% margin, and $15 EPS.

Feb 12, 2026, 2:00 PM

Transcript

FedEx unveils long-term financial plan and transformation strategy at Investor Day 2026

FDX

Guidance Update

M&A

FedEx outlined four strategic priorities (growth in high-margin verticals, digital & AI, network transformation, ongoing efficiency) to drive 4% revenue CAGR, 200 bps margin expansion, 14% adjusted operating income CAGR, and generate $6 billion in free cash flow by FY 2029.
Joined a consortium to make a takeover bid for InPost, targeting accretive earnings in year one post-completion in H2 2026, while maintaining operational independence.
Emphasized FedEx Dataworks’ scale—2 petabytes of daily data—to deliver predictive insights, SaaS products (e.g., RouteSmart), and supply chain orchestration services, aiming to move up the value chain.
Europe transformation has delivered $600 million in cost reductions through FY 2025, reorganized operations under DRIVE & One FedEx, and targets $650 million of operating income improvement by 2029.
FY 2029 financial targets include $98 billion consolidated revenue, $8 billion operating income (8% margin), U.S. domestic margin 10% on $64 billion revenue, international margin 8% on $29 billion revenue, and a 4% CapEx-to-revenue ratio.

Feb 12, 2026, 2:00 PM

Transcript

FedEx unveils 2026–29 strategic and financial roadmap at Investor Day

FDX

Guidance Update

M&A

Delivered $4 billion in structural savings in FY 2023–25 and plans an additional $2 billion by end of 2027 through DRIVE, Network 2.0, and One FedEx initiatives.
Defined four strategic priorities through 2029: grow high-margin B2B/B2C and premium air freight; scale digital and AI capabilities; transform air (Tri-Color) and surface (Network 2.0) networks globally, with Europe as a key value unlock; and embed ongoing efficiency gains.
Joined a consortium to acquire InPost, a profitable European parcel-locker operator, targeting close in H2 2026; the deal is expected to be accretive in year one post-completion, while FedEx and InPost remain independent competitors.
Issued FY 2029 targets of 4% revenue CAGR, 200 bps adjusted operating-margin expansion, 14% adjusted operating-income CAGR, and $6 billion of adjusted free cash flow, aiming for $98 billion in revenue, $8 billion in operating income (8% margin), and $25 EPS (vs. $85 billion revenue, $5 billion operating income, and $15 EPS in FY 2026).
Reinforced capital discipline with a planned CapEx-to-revenue ratio of ~4% by 2029, down from 4.6% in FY 2025, to boost ROIC and free cash flow.

Feb 12, 2026, 2:00 PM

Transcript

FedEx outlines Investor Day 2026 strategy and targets

FDX

Guidance Update

New Projects/Investments

FedEx detailed a four-pillar strategy—grow high-margin verticals, transform the network, build on data/tech, and sustain efficiency via the DRIVE framework—to power its integrated industrial network.
Set FY26–29 targets of ~4% revenue CAGR, ~14% adjusted operating income CAGR (driving 200 bps margin expansion), and ~$6 B adjusted free cash flow in 2029.
Announced Network 2.0 and One FedEx surface integration will deliver $2 B in savings by end-2027, with ~25% of U.S. and Canada ADV markets optimized to date.
Emphasized a digital backbone with standardized processes, digitized workflows, and 200+ AI use cases, targeting full data consolidation in 2027 to enhance decision-making.
Europe transformation to drive ~$650 M operating income improvement by 2029, building on $600 M of structural cost savings achieved in FY23–25.

Feb 12, 2026, 2:00 PM

Presentation

FedEx hosts 2026 Investor Day

FDX

Guidance Update

Debt Issuance

FedEx hosted its 2026 Investor Day, detailing a strategy centered on four strategic priorities: growing in high-margin verticals, building digital and AI capabilities, transforming its network, and delivering ongoing efficiency gains.
The company introduced 2029 financial targets, including ≈$98 billion in revenue, ≈$8 billion in operating income, ~8% operating margin, ~11% ROIC, ~4% CapEx to revenue, and ~$6 billion in adjusted free cash flow.
The planned spin-off of FedEx Freight remains on track for June 1, 2026, following a $3.7 billion senior notes issuance on February 5, 2026.
FedEx now expects its third fiscal quarter adjusted EPS to exceed consensus, driven by strong Peak season performance.