FedEx Freight Revenue Declines
This is a news story, published by Yahoo Finance, that relates primarily to FedEx Freight news.
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tonnage declineFreightWaves
•Business
Business & Economics
FedEx prepping LTL unit ahead of spinoff
85% Informative
Revenue at FedEx Freight declined 5.3% year over year to $2.09 billion .
The unit recorded an 87.5% operating ratio (inverse of operating margin) in the recent quarter .
The LTLs have been the worst-performing group among transports since the beginning of the year .
A 20-plus sell-off in shares tied to the tariff overhang and the possibility that Amazon becomes a more meaningful player in the space.
FedEx again lowered its outlook for fiscal 2025 , reeling in adjusted earnings per share.
The company reiterated cost savings from its Drive initiative to total $2.2 billion in the current fiscal year .
Shares of FDX were off 8.2% at 12:19 p.m. EDT on Friday compared to the S&P 500.
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