FedEx Corporation (NYSE:FDX) on Monday disclosed that Chief Financial Officer John W. Dietrich will step down on June 1, 2026.

CFO John Dietrich Steps Down

John Dietrich’s departure is set to take effect after the successful spinoff of FedEx Freight on June 1.

Claude Russ will step in as interim CFO while the company searches for a permanent replacement. Russ leads FedEx’s global FP&A and finance initiatives for its DRIVE transformation.

Over his 24-year tenure, he has held key roles including COO of FedEx Dataworks, SVP of Revenue Management, and CFO of FedEx Freight, supported by an experienced finance team.

FedEx also reaffirmed its fiscal year 2026 outlook and long-term targets shared during its Investor Day in February.

FedEx Freight Spinoff

Last week, FedEx disclosed that it is on track to conclude the spinoff on June 1. It still requires final board approval and other customary conditions.

The spinoff is expected to be tax-free for U.S. federal income tax purposes. Shares are set to list on the NYSE under the ticker “FDXF.”

FedEx Freight also outlined medium-term financial targets, projecting 4%–6% annual revenue growth and 10%–12% yearly gains in adjusted operating income.

Capital expenditures are expected to remain around 5% of revenue, while the company aims to generate more than $1 billion in free cash flow with conversion above 90%.

Guidance Reaffirmed

FedEx said it continues to expect fiscal 2026 adjusted earnings per share of $19.30 to $20.10, compared with analyst consensus estimates of $18.70. The company forecasts revenue of $93.20 billion to $93.64 billion, above the consensus of $92.81 billion.

The company also reiterated its fiscal 2029 outlook, projecting revenue of about $98 billion, implying roughly 4% compound annual growth. FedEx expects operating income of about $8 billion, representing an estimated 14% non-GAAP CAGR, and adjusted free cash flow of about $6 billion.

FedEx said it plans to keep aircraft-related capital spending below $1 billion and is targeting a $3 billion increase in operating income through strategic initiatives across its realigned business segments.

FDX Up 76.71% in 12 Months

The broader market saw gains on Monday, with the Technology sector rising 0.47%. FedEx’s move aligns with this positive trend, suggesting that the stock is moving in tandem with broader market dynamics.

FedEx is currently positioned within a strong long-term trend, having gained 76.71% over the past 12 months. The stock is trading 9.8% below its 20-day simple moving average (SMA), indicating a potential short-term weakness, while it is 1.8% below its 50-day SMA, suggesting that the intermediate trend may also be under pressure.

The relative strength index (RSI) is at 59.33, indicating neutral momentum. This level suggests that the stock is neither overbought nor oversold, which could mean that there is room for upward movement if buying interest increases.

  • Key Resistance: $365.00 — A level where selling pressure may emerge.
  • Key Support: $327.50 — A potential area where buyers could step in.

IYT Holds FDX at 8.66% Weight

  • iShares U.S. Transportation ETF (BATS:IYT): 8.66% Weight
  • First Trust Nasdaq Transportation ETF (NASDAQ:FTXR): 5.07% Weight
  • Monarch Dividend Plus Index ETF (NASDAQ:MDPL): 3.93% Weight

Significance: Because FDX carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

Price Action

FDX Stock Price Activity: FedEx shares were down 0.48% at $370.11 during premarket trading on Tuesday, according to Benzinga Pro data.

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