FedEx Corporation (FDX.DE) Q3 2025 Earnings Report

FedEx QQ3 2025 delivered modest top-line growth with a continued focus on cost discipline and network efficiency. Revenue of $22.16 billion rose 1.94% year over year and 0.88% sequentially, while gross profit of $4.731 billion yielded a gross margin of 21.35%. Operating income reached $1.292 billion for an operating margin of 5.83%, and net income was $0.909 billion, translating to $3.79 per share (GAAP) and $3.73 per share (diluted). The quarter reflects a combination of revenue growth, ongoing operating leverage, and continued capital expenditure to support capacity, which contributed to solid free cash flow generation of $1.015 billion on $2.012 billion of operating cash flow.

FedEx also returned capital to shareholders via a $332 million dividend and $497 million of share repurchases, while the balance sheet remains leverage-sensitive given total debt of $37.0 billion and net debt of $31.9 billion. Liquidity stood at $5.14 billion in cash and equivalents, and working capital dynamics remained constructive as the company generated positive cash flow despite a high capital-intensity profile. The quarter’s metrics imply a company that is growing modestly while managing costs and capital allocation in a challenging macro and competitive environment.

Management commentary is not included in the provided data, so the forward-looking view relies on disclosed results and typical industry dynamics: continued focus on price realization, productivity improvements, and network optimization to sustain margins and cash flow amid fuel-cost volatility and demand variability.