0800 ET - FedEx's guidance is difficult to measure due to several structural changes to how the company reports its finances, Morgan Stanley analysts say. FedEx switched to a calendar-year reporting schedule, making it difficult to compare its forward outlook with previous guidance, the analysts say. The company's spinoff of FedEx Freight also complicates comparability, and investors are waiting until the newly independent company reports financials on Thursday to see how the freight industry performed. The analysts estimate FedEx's guidance for the second half of this calendar year is modestly below sell-side consensus estimates, which they say is contributing the stock's 6% decline premarket. They add that it will be difficult to pin down the normalized EPS level until the company issues 2027 guidance in January. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

June 24, 2026 08:00 ET (12:00 GMT)

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