FedEx shares fell 7.2% in pre-market trading on June 24, 2026. The decline followed the release of 2026 earnings guidance that missed analyst expectations.
Fiscal fourth-quarter adjusted earnings reached $6.31 per share. Quarterly revenue totaled $25.0 billion.
FedEx projects 2026 adjusted earnings between $16.90 and $18.10 per share. The $17.50 midpoint is significantly lower than the $19.86 consensus estimate.
The FedEx Freight separation involves $350 million in stranded costs. A new pilot agreement represents a $200 million headwind.
Management paused the Network 2.0 implementation until early 2027. This delay will postpone anticipated efficiency improvements.