FedEx

FDX

Market cap $74.7B

FDX's cost cuts, B2B shift and upbeat outlook support long-term prospects, but fuel and trade risks make the stock a hold for now.

Global food delivery platform Delivery Hero was a contributor for the quarter. French pay-TV operator Canal+ contributed positively in the quarter. Leading international student placement agency and high stakes English testing service provider IDP Education was a detractor for the quarter. We exited our positions in Delivery Hero, as discussed above, and Menicon, which was a smaller position that had approached fair value.

MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX) (“FedEx”) today announced the pricing terms of its previously announced cash tender offers (each, an “Offer” and, collectively, the “Offers”) to purchase up to $4,150,000,000 aggregate purchase price, not including accrued and unpaid interest (the “Offer Cap”), of FedEx's validly tendered (and not validly withdrawn) notes set forth below (collectively, the “Notes”), using a “waterfall” methodology under which FedEx will accept the Notes i.

MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX) (“FedEx”) today announced the early results of its previously announced cash tender offers (each, an “Offer” and, collectively, the “Offers”) for its validly tendered (and not validly withdrawn) notes set forth below (collectively, the “Notes”). The Offers are being made pursuant to an Offer to Purchase, dated June 25, 2026 (the “Offer to Purchase”), which sets forth a description of the terms of the Offers. The following table summarizes.

Business is getting better for truckers. What stocks to buy now, according to Wall Street.

FedEx currently looks stronger on revenue, showing consistent top-line expansion compared to the more volatile performance seen from United Parcel Service. Over the last eight quarters, United Parcel Service experienced distinct quarter-over-quarter swings, while FedEx maintained a much steadier upward trajectory during the same timeframe.

FedEx Corporation reported a non-GAAP Q4 EPS beat, but GAAP margins compressed and shares declined, signaling deeper concerns. Adjusted EPS growth guidance for 2026 requires margin expansion not yet evident, raising skepticism about the achievability of targets. Valuation models suggest a fair value of $345–$355, implying limited upside and supporting a Hold rating until margin expansion is proven.

FedEx is leaning on DRIVE, Network 2.0 and other efficiency moves to offset soft shipping demand and top-line pressure.

FedEx plans to sell FedEx Supply Chain to CMA CGM Group, a Marseille-based global provider of sea, land, air and logistics solutions, at an enterprise value of $1.4 billion.

CMA CGM will offer ocean transport and carrier services under a nonexclusive agreement with FedEx and the companies will also work together on select air-cargo capacity solutions.