FedEx reported third-quarter revenue of $22.9 billion, a 12% increase from the prior year period, driven by higher package volumes and yields. Adjusted diluted earnings per share were $3.74, compared to $2.93 in the previous year. The company completed the sale of FedEx Supply Chain for approximately $1.4 billion and utilized proceeds from a $4.1 billion dividend received from its FedEx Freight spin-off to repurchase $4.9 billion in debt securities, generating a pre-tax gain of $627 million. Additionally, FedEx executed $2.0 billion in share buybacks during the quarter. Management raised its full-year adjusted diluted EPS forecast to $18.00–$18.60 from the previous range of $16.90–$18.10. The company operates a global transportation and e-commerce network providing integrated business solutions.
