| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q4'26 | June 23, 2026 | 7/12 | 1 high, 4 medium, 3 low flags | 7 | 0 | Call sheet → |
| Q3'26 | March 19, 2026 | 11/12 | 2 medium, 6 low flags | 3 | 2 | Call sheet → |
| Q2'26 | 2025-12-18 | 11/12 | 2 medium, 4 low flags | 5 | 0 | Call sheet → |
| Q4'25 | 2025-06-24 | 8/12 | 1 high, 4 medium, 2 low flags | 7 | 0 | Call sheet → |
| Q3'25 | March 20, 2025 | 9/12 | 3 medium, 4 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q4'26 | Pending | 65% through Network 2.0 before peak Reiterated target, on track |
| Q4'26 | Delivered | Freight spin on June 1 Completed on schedule June 1 |
| Q4'26 | Delivered | Exceed $1B transformation savings target Confirmed exceeded but didn't quantify by how much |
| Q4'26 | Exceeded | CapEx no more than $4.1B Came in at $3.8B, $300M below target |
| Q4'26 | Exceeded | Begin returning MD-11 fleet late Q4 Started in May, 4 aircraft already back, ahead of schedule |
| Q4'26 | Delivered | 45% of volume through Network 2.0 by end of March On track for 45% by month-end per prepared remarks |
| Q4'26 | Exceeded | FY26 adjusted EPS $19.30-$20.10 Delivered $20.24, above high end of range |
| Q4'26 | Exceeded | Q4 adjusted EPS of $5.80 (midpoint) Delivered $6.31, beat by $0.51 or 9% |
| Q3'26 | Missed | Q2: FedEx Freight revenue 'approximately flat to slightly down' for FY26 Now expecting 'down low single digits' - worse than flat expectation from Q2. |
| Q3'26 | Delivered | Q2: Peak ADV trending for 'modest year-over-year increase' Peak volumes tracked 'right on our forecast' for mid-single-digit growth. |
| Q3'26 | Exceeded | Q2: MD-11 grounding to create 'meaningful headwinds in second half primarily in Q3' Q3 impact was $120M vs $25M in Q2. Q4 expected 'up to $55M' but return timing uncertain. |
| Q3'26 | Exceeded | Q2: On track to achieve $1 billion transformation-related savings Now expect to 'exceed this year's $1 billion savings target.' |
| Q3'26 | Pending | Q2: Expected Q4 to be 'our strongest adjusted EPS quarter for the fiscal year' Still guiding Q4 as strongest but lowered sequential increase expectations. |
| Q3'26 | Missed | Q2: Expected Q3 adjusted EPS to be 'sequentially lower than Q2' Q3 delivered $4.82 vs Q2's $4.82, essentially flat. They expected decline but held steady. |
| Q2'26 | Delivered | Strong capture from demand surcharges Management confirmed strong capture, year-over-year increase |
| Q2'26 | Delivered | Sequential improvement in Q2 adjusted EPS $4.82 vs $3.83 in Q1, strong beat |
| Q2'26 | Delivered | Modest peak season ADV increase Tracking in line with expectations, one week remaining |
| Q2'26 | Delivered | Continue Network 2.0 rollout Now 24% of eligible volume vs 18% exit Q1, 355 facilities optimized |
| Q2'26 | Exceeded | 4% to 6% consolidated revenue growth Raised to 5% to 6% range - narrowed upward |
| Q2'26 | Pending | Achieve $1 billion transformation-related savings in FY26 On track - achieved targeted $200M in Q2, management confident |
| Q2'26 | Pending | Spin-off FedEx Freight by June 1, 2026 On track - executive team complete, Form 10 submitted, Marshall Witt named CFO |
| Q4'25 | Exceeded | Reduce CapEx to $4.9B in FY25 Actual $4.1B, beat by $800M |
| Q4'25 | Delivered | Achieve $600M DRIVE savings from Europe by end FY25 On track per management, though no specific confirmation |
| Q4'25 | Exceeded | Return $3.8B to shareholders in FY25 Actually returned $4.3B, added $500M opportunistic repurchases |
| Q4'25 | Delivered | Exit FY25 with ~12% of volume through Network 2.0 2.5M daily volume roughly equals 12% target based on their math |
| Q4'25 | Delivered | Complete Canada Network 2.0 by end April Canada optimization completed as promised |
| Q4'25 | Delivered | Optimize 45 US stations in Q4 Completed as planned, plus accelerated June rollout |
| Q4'25 | Delivered | Achieve incremental $2.2B DRIVE savings for FY25 Hit target at $2.2B, consistent sequential building through year |
| Q3'25 | Pending | Add 300+ LTL specialists by separation VP in place, hiring underway, will continue throughout next fiscal year |
| Q3'25 | Delivered | Strong capture on 5.9% January GRI Management confirmed strong capture rate consistent with historical trends |
| Q3'25 | Exceeded | Continued Europe progress Called best European service levels in years, profitable share growth for 7 quarters |
| Q3'25 | Delivered | Revenue to be up slightly YoY in Q3 and Q4 Q3 revenue up 2% YoY, first growth this fiscal year |
| Q3'25 | Pending | Complete Canada rollout by end of April On track per management commentary |
| Q3'25 | Delivered | Network 2.0 rollout to continue post-peak Resumed conversions in Q3, optimized 5 stations since calendar year start |
| Q3'25 | Pending | Achieve $2.2 billion incremental DRIVE savings in FY25 Reaffirmed commitment, now saying 'north of $2.2 billion' annualized run rate by Q4 exit |
| Q3'25 | Delivered | DRIVE savings to build sequentially in Q3 and Q4 $600M in Q3 vs $540M in Q2 - sequential build delivered as promised |
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