FedEx Freight to be the largest North American less-than-truckload freight carrier
Last Friday 16th January, FedEx Corp. announced the filing of the Form 10 registration statement (the “Form 10”) with the U.S. Securities and Exchange Commission (“SEC”) for the planned spin-off of FedEx Freight.
“Today’s Form 10 filing reflects the strong progress we are making toward the launch of FedEx Freight as a focused, industry-leading LTL company,” said Raj Subramaniam, FedEx Corp. president and chief executive officer. “This separation will create two world-class companies, positioning both FedEx and FedEx Freight to better serve customers and unlock long-term value for all stockholders.”
“FedEx Freight is built on a strong foundation, powered by our expansive network, differentiated service model, and 39,000 highly skilled and dedicated team members,” said John Smith, FedEx Freight incoming president and chief executive officer. “Today’s filing is a key milestone in our journey toward being an independent company, positioned to deliver greater value as the premier LTL freight carrier in North America.”
Highlights from the Form 10
The Form 10 highlights how FedEx Freight will:
• Leverage its comprehensive national LTL network, industry-leading scale, and premium, differentiated, flexible model to strengthen customer relationships, deliver best-in-class transit times and reliability, and deepen its position in the resilient and attractive LTL market.
• Execute a focused commercial and operational strategy centered on high-growth verticals, technology and infrastructure investment, and ongoing efficiency initiatives to enable meaningful growth, extend its competitive leadership, and maximize the benefits of a streamlined, LTL-focused operating model.
• Drive sustained profitable growth, strong cash generation, and disciplined capital allocation to fund high-return innovation and network investments and responsibly return capital to stockholders over time.
Additional Information
FedEx Freight is expected to be spun off from FedEx on June 1, 2026, subject to final approval from the FedEx Board of Directors and other customary conditions. FedEx Freight’s common stock is expected to be listed on the New York Stock Exchange under the ticker symbol “FDXF.” The planned spin-off of FedEx Freight is intended to be tax-free for FedEx and FedEx stockholders for U.S. federal income tax purposes, except for cash that stockholders may receive (if any) in lieu of fractional shares.
Goldman Sachs & Co. LLC is serving as the financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel.
FedEx Freight will host an investor day on April 8, 2026, in New York City. Over the course of the event, members of the leadership team will provide details on FedEx Freight’s differentiated positioning, compelling financial model, and future growth prospects.
