FedEx Freight revenue reaches $2.4 billion
FedEx Freight reported fiscal fourth quarter revenue of $2.4 billion, exceeding the $2.26 billion consensus forecast.
The company’s adjusted operating income fell 24% to $363 million, beating expectations of $359.
FedEx Freight is a less-than-truckload carrier, consolidating shipments from multiple customers onto a single trailer.
The company’s results were reported after its spin-off from FedEx Corporation was completed.