“We continue to target $4.5 billion in annual CapEx for FY '26.”

In context

“d strategy. We remain confident that FedEx Freight is well positioned to see strong incremental margins when demand returns. We remain committed to prudent capital allocation and maximizing stockholder returns. During the quarter, we opportunistically purchased nearly $300 million worth of stock which alongside our increased dividend payout demonstrates our commitment to returning cash to stockholders. We have $1.3 billion remaining under our 2024 stock repurchase authorization and subject to business and market conditions, we'll continue to evaluate repurchasing additional shares during the remainder of FY '26. CapEx year to date is $1.4 billion driven by continued investments to maintain our fleet of aircraft and vehicles network 2.o related facility enhancements, and hub modernization. We continue to target $4.5 billion in annual CapEx for FY '26. Given the healthy status of our pension plan, we are further reducing our expected pension cash contribution. We now anticipate making $275 million in voluntary pension contributions to our US qualified plans in fiscal 2026. Compared to our prior forecast of up to $400 million. Moving to our FY '26 adjusted EPS outlook. I want to note that our outlook is based on information known to us today in our business trends from the first half of the fiscal year. Though the global operating environment remains fluid, our year-to-date results demonstrate our operating leverage and proven ability to successfully drive premium revenue growth. As a result, we now expect to deliver adjusted EPS of $17.8 to $19. This compares to our prior range of $17.20 to $19 and reflects a range of potential scenario”