00:00It's Benzinga, bringing Wall Street to Main Street.
00:02FedEx reported first quarter fiscal 2026 revenue of $22.2 billion,
00:07topping estimates of $21.67 billion, according to Benzinga.
00:11Justin Erdings came in at $3.83 per share, above expectations of $3.62.
00:16Operating results for its express segment improved,
00:19while the freight segment declined due to higher wage costs and weaker revenue.
00:23FedEx confirms its planned freight spinoff for June 2026,
00:26tweeted $500 million in buybacks, and in August was $6.2 billion in cash.
00:31The company expects revenue to grow 4% to 6% this fiscal year
00:34and reaffirm $1 billion in permitted cost reductions.
00:38Shares rose 6.46% and after hours to $241.14.
00:43For all things money, visit Benzinga.com.
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