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FedEx (FDX) Q3-26 earnings: Historic peak profit & a $120M grounded fleet hit
Description
FedEx achieved its most profitable holiday season on record in Q3 2026, defying volume pressures through massive structural network efficiency. 📦
In ~10 minutes:
• How Network 2.0 delivered a historically profitable peak season.
• The emergency FAA MD-11 grounding that vaporized $120M.
• Why the impending Freight spin-off carries a new $3.7B debt load.
• "Scoop," the new autonomous robotic arm taking over trailer unloading.
Management is showing fierce capital discipline, aggressively slashing full-year CapEx to $4.1 billion while optimizing headcounts. However, between an unadjusted $60M structural spin-off charge and a surprise $99M Brazilian tax windfall padding the bottom line, the underlying financial mechanics of this quarter demand a much closer look.
FedEx Corporation (FDX) | Q3 FY2026
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