Compared to Estimates, FedEx (FDX) Q3 Earnings: A Look at Key Metrics

Core Viewpoint - FedEx reported strong financial results for the quarter ended February 2026, with revenue and earnings per share (EPS) exceeding expectations, indicating robust underlying performance despite recent stock price declines [1][3]. Financial Performance - Revenue for the quarter was $24 billion, reflecting an 8.3% increase year-over-year and a surprise of +1.75% over the Zacks Consensus Estimate of $23.59 billion [1]. - EPS was reported at $5.25, up from $4.51 in the same quarter last year, resulting in a surprise of +26.81% compared to the consensus estimate of $4.14 [1]. Key Metrics - Average daily package volume for international economy was 599 thousand, surpassing the average estimate of 577.83 thousand [4]. - Total international export average daily volume (ADV) was 1.17 million, exceeding the estimate of 1.13 million [4]. - Revenue per package for international export composite was $52.44, slightly above the estimate of $52.04 [4]. - Revenue from the Federal Express Package International economy segment was $1.49 billion, compared to the estimate of $1.45 billion, marking a +1.6% change year-over-year [4]. - Total international export package revenue reached $3.85 billion, exceeding the estimate of $3.7 billion, with an +8.1% year-over-year change [4]. - U.S. priority revenue was $2.9 billion, close to the estimate of $2.89 billion, while U.S. ground revenue was $9.86 billion, slightly above the estimate of $9.8 billion [4]. - The Federal Express segment revenue was $21.15 billion, surpassing the estimate of $20.68 billion, representing a +10.3% year-over-year increase [4]. - FedEx Freight segment revenue was $1.99 billion, below the estimate of $2.04 billion, indicating a -4.7% year-over-year change [4]. - Revenue from other and eliminations was $855 million, slightly below the estimate of $859.38 million, reflecting a -3.9% year-over-year change [4]. - International priority freight revenue was $627 million, exceeding the estimate of $569.9 million, with a +13.8% year-over-year increase [4]. Stock Performance - FedEx shares have returned -8.7% over the past month, compared to a -3.6% change in the Zacks S&P 500 composite [3]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3].