<p>联邦快递公司（NYSE: FDX）第二季度报告强调了其在需求不均、关税紧张和竞争加剧的挑战市场环境中的韧性。管理层发布了谨慎的指引，指出在网络优化和成本控制方面取得了进展，尽管货运市场疲软和运营阻力对某些部门造成了压力。尽管货运需求仍然令人担忧，联邦快递预计通过重组和数字投资实现长期收益。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/12/FedEx-Q2-2026-Earnings.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1280" height="700" original-src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/12/FedEx-Q2-2026-Earnings.jpg"/></p>
<h2>第二季度结果</h2>
<p>这家货运巨头的第二季度每股收益（不包括特殊项目）从去年同期的 4.05 美元增加至 4.82 美元，超出了华尔街的预期。按报告计算，11 月季度的净收入为 9.56 亿美元，或每股 4.04 美元，而 2025 年第二季度为 7.41 亿美元，或每股 3.03 美元。<strong>底线增长得益于收入增长 7%，达到 235 亿美元，超出分析师的预测。</strong></p>
<p>公司在公告后周四股价上涨，但随后回落，且下跌趋势延续至周五的盘前交易。管理层对当前季度的谨慎利润预测因增量成本而抑制了投资者情绪。在 2025 年以低迷的状态开局并在早期几个月失去进一步动能后，FDX 反弹并一直处于恢复模式。过去六个月股价上涨约 28%。</p>
<p><strong><em>另请阅读：</em> 联邦快递报告第二季度收入和利润上升</strong></p>
<h2>混合观点</h2>
<p>联邦快递管理层表示，预计当前季度的盈利能力将受到与 MD-11 机队因安全问题意外停飞相关的额外成本的影响。尽管面临全国航空交通限制、工业经济疲软和全球贸易不确定性等阻力，公司仍提高了 2026 财年的预测中值。<strong>预计 2026 财年的收入将增长 5-6%。</strong> 2026 年的未调整每股收益指引为 14.80 美元至 16.00 美元，调整后的每股收益预计在 17.80 美元至 19.00 美元之间。</p>
<p><strong>来自联邦快递 2026 年第二季度财报电话会议：</strong></p>
<p><em>“高单位数的收入增长、利润率扩张和高十位数的调整后每股收益增长。值得注意的是，我们在应对多重外部阻力的同时实现了这一目标，包括 MD-11 机队的意外停飞、全国航空交通限制、工业经济疲软，以及全球贸易政策变化的影响。我们对第二季度的表现感到非常满意，尤其是在面对这些挑战时。这是我们在过去几年中融入文化的严格管理的直接结果，以及通过数据和技术实现的网络 2.0、三色和结构性成本降低的转型。”</em></p>
<h2>分拆</h2>
<p>与此同时，联邦快递货运业务在持续的运输压力下仍然拖累整体表现。管理层正准备将这一表现不佳的部门分拆为一家独立上市的公司。<strong>在最近一个季度，联邦快递货运的收入因日均运输量下降而下降 2%。</strong></p>
<p>联邦快递过去十二个月的平均股价为 242.13 美元。周五下午股价低于开盘水平，较上个月上涨了 9%。</p>
<p>联邦快递（FDX）在货运市场放缓的情况下保持稳定的文章首次出现在 AlphaStreet 上。</p>

联邦快递

<p>联邦快递公司第二季度报告突显了在需求不均、关税紧张和竞争加剧的情况下的韧性。每股收益上升至 4.82 美元，超出预期，净收入为 9.56 亿美元。收入增长 7%，达到 235 亿美元。尽管前景谨慎且货运市场疲软，联邦快递仍然看到了通过重组和数字投资实现长期收益的机会。该股票在六个月内上涨了 28%，但由于利润预测谨慎而面临下滑。联邦快递计划剥离其表现不佳的货运部门</p>

<p>FedEx Corporation’s (NYSE: FDX) second-quarter report underscored its resilience in a challenging market environment characterized by uneven demand, tariff tensions, and rising competition. Management issued cautious guidance, citing progress in network optimization and cost discipline, even as freight market weakness and operational headwinds weighed on certain segments. Although freight demand remains a concern, FedEx sees long-term gains from restructuring and digital investments.</p>
<div class="lb-trans"><p>联邦快递公司（NYSE: FDX）第二季度报告强调了其在需求不均、关税紧张和竞争加剧的挑战市场环境中的韧性。管理层发布了谨慎的指引，指出在网络优化和成本控制方面取得了进展，尽管货运市场疲软和运营阻力对某些部门造成了压力。尽管货运需求仍然令人担忧，联邦快递预计通过重组和数字投资实现长期收益。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2025/12/FedEx-Q2-2026-Earnings.jpg" alt="" original-src="https://cdn.news.alphastreet.com/wp-content/uploads/2025/12/FedEx-Q2-2026-Earnings.jpg"/></p>
<h2>Q2 Outcome</h2>
<div class="lb-trans"><h2>第二季度结果</h2>
</div><p>The cargo giant’s second-quarter earnings, excluding special items, increased to $4.82 per share from $4.05 per share in the year-ago quarter, exceeding Wall Street’s expectations. On a reported basis, net income was $956 million or $4.04 per share in the November quarter, compared to $741 million or $3.03 per share in Q2 2025. <strong>The bottom-line growth was driven by a 7% growth in revenues to $23.5 billion, which is above analysts’ forecasts.</strong></p>
<div class="lb-trans"><p>这家货运巨头的第二季度每股收益（不包括特殊项目）从去年同期的 4.05 美元增加至 4.82 美元，超出了华尔街的预期。按报告计算，11 月季度的净收入为 9.56 亿美元，或每股 4.04 美元，而 2025 年第二季度为 7.41 亿美元，或每股 3.03 美元。<strong>底线增长得益于收入增长 7%，达到 235 亿美元，超出分析师的预测。</strong></p>
</div><p>The company’s stock rallied on Thursday soon after the announcement, but pulled back later, and the downturn extended into the pre-market on Friday. Investor sentiment was dampened by the management’s cautious profit forecast for the current quarter, citing incremental costs. After entering 2025 on a low note and losing further momentum in the early months, FDX bounced back and has been in recovery mode since then. It has gained about 28% in the past six months.</p>
<div class="lb-trans"><p>公司在公告后周四股价上涨，但随后回落，且下跌趋势延续至周五的盘前交易。管理层对当前季度的谨慎利润预测因增量成本而抑制了投资者情绪。在 2025 年以低迷的状态开局并在早期几个月失去进一步动能后，FDX 反弹并一直处于恢复模式。过去六个月股价上涨约 28%。</p>
</div><p><strong><em>Also Read:</em> FedEx reports higher Q2 revenue and profit</strong></p>
<div class="lb-trans"><p><strong><em>另请阅读：</em> 联邦快递报告第二季度收入和利润上升</strong></p>
</div><h2>Mixed View</h2>
<div class="lb-trans"><h2>混合观点</h2>
</div><p>The FedEx management said it expects profitability to be impacted in the current quarter by additional costs related to the unexpected grounding of its MD-11 fleet due to safety concerns. Despite headwinds like nationwide air traffic constraints, weakness in the industrial economy, and global trade uncertainties, the company raised the midpoint of its FY26 forecasts. <strong>Fiscal-2026 revenue is expected to grow 5-6% now.</strong> The guidance for unadjusted earnings per share for 2026 is $14.80 to $16.00, and adjusted earnings are expected to be in the range of $17.80 per share to $19.0 per share.</p>
<div class="lb-trans"><p>联邦快递管理层表示，预计当前季度的盈利能力将受到与 MD-11 机队因安全问题意外停飞相关的额外成本的影响。尽管面临全国航空交通限制、工业经济疲软和全球贸易不确定性等阻力，公司仍提高了 2026 财年的预测中值。<strong>预计 2026 财年的收入将增长 5-6%。</strong> 2026 年的未调整每股收益指引为 14.80 美元至 16.00 美元，调整后的每股收益预计在 17.80 美元至 19.00 美元之间。</p>
</div><p><strong>From FedEx’s Q2 2026 Earnings Call:</strong></p>
<div class="lb-trans"><p><strong>来自联邦快递 2026 年第二季度财报电话会议：</strong></p>
</div><p><em>“High single-digit revenue growth, margin expansion, and high teens adjusted EPS growth. Quite remarkably, we did this while navigating multiple external headwinds, including the unexpected grounding of our MD-11 fleet, nationwide air traffic constraints, weakness in the industrial economy, and of course, the impact of global trade policy changes. We’re extremely pleased with our Q2 performance, especially in the face of these challenges. It’s a direct effect of the rigor we have embedded into our culture over the past several years and the resulting transformation from Network 2.0, Tricolor, and structural cost reductions, all enabled by data and technology.</em></p>
<div class="lb-trans"><p><em>“高单位数的收入增长、利润率扩张和高十位数的调整后每股收益增长。值得注意的是，我们在应对多重外部阻力的同时实现了这一目标，包括 MD-11 机队的意外停飞、全国航空交通限制、工业经济疲软，以及全球贸易政策变化的影响。我们对第二季度的表现感到非常满意，尤其是在面对这些挑战时。这是我们在过去几年中融入文化的严格管理的直接结果，以及通过数据和技术实现的网络 2.0、三色和结构性成本降低的转型。”</em></p>
</div><h2>Spin Off</h2>
<div class="lb-trans"><h2>分拆</h2>
</div><p>Meanwhile, the FedEx Freight business remains a drag on overall performance amid continued pressure on shipments. The management is preparing to spin off this underperforming division as a separately listed public company. <strong>In the most recent quarter, FedEx Freight’s revenue dropped 2% due to lower average daily shipments.</strong></p>
<div class="lb-trans"><p>与此同时，联邦快递货运业务在持续的运输压力下仍然拖累整体表现。管理层正准备将这一表现不佳的部门分拆为一家独立上市的公司。<strong>在最近一个季度，联邦快递货运的收入因日均运输量下降而下降 2%。</strong></p>
</div><p>The average price of FedEx shares for the past twelve months is $242.13. The stock traded lower on Friday afternoon, after opening the session lower. It has gained 9% since last month.</p>
<div class="lb-trans"><p>联邦快递过去十二个月的平均股价为 242.13 美元。周五下午股价低于开盘水平，较上个月上涨了 9%。</p>
</div><p>The post FedEx (FDX) holds steady despite freight market slowdown first appeared on AlphaStreet.</p>
<div class="lb-trans"><p>联邦快递（FDX）在货运市场放缓的情况下保持稳定的文章首次出现在 AlphaStreet 上。</p>
</div>

尽管货运市场放缓，联邦快递（FDX）依然保持稳定