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Today at a glance:
🚚 FedEx: Parcel Demand Relief
🍪 General Mills: Sales Slump Continues
🫒 Darden: Inflation Bites
⚽️ Man United: Record Off The Pitch
1. 🚚 FedEx: Parcel Demand Relief
FedEx started FY26 on a strong note, with Q1 revenue rising 3% Y/Y to $22.2 billion ($550 million beat) and adjusted EPS of $3.83 ($0.22 beat).
The Express segment again drove results, with higher yields on priority packages and increased US domestic volume offsetting ongoing weakness in the Freight segment. Cost-cutting programs continued to lift operating margin.
The key development was the reinstatement of full-year guidance, which had been withheld last quarter due to trade uncertainty. Management now forecasts revenue growth of 4% to 6% for FY26—well ahead of expectations—and adjusted EPS of $17.20 to $19.00. The confident outlook suggests a rebound in parcel demand and eased investor fears, sending the stock higher.
FedEx reaffirmed its plan to deliver another $1 billion in permanent cost savings this year and is advancing the planned spin-off of its Freight division, which is expected to be completed by June 2026. While tariff impacts on global trade remain a headwind, the FY26 guidance marks a significant reversal from last quarter’s uncertainty.
2. 🍪 General Mills: Sales Slump Continues
General Mills’ reset year is underway with Q1 revenue falling 7% Y/Y to $4.5 billion ($20 million miss), a decline that includes a 4-point headwind from its US yogurt business divestiture.