FedEx Freight outlook lowered for fiscal 2026

FedEx Corp. lowered expectations for its less-than-truckload unit, FedEx Freight, Thursday after the market closed. A planned spin off of the LTL business, into a separate publicly traded company, is now scheduled for June 1. During FedEx Freight’s fiscal second quarter ended Nov. 30, revenue fell 1.7% year over year to $2.14 billion. A 2.8% decline in tonnage was partially offset by a 1.1% increase in revenue per hundredweight, or yield. Shipments were down 3.9% y/y and 2.9% lower than the quarter ende ...