FedEx Freight has completed its spin-off from FedEx Corporation, establishing itself as an independent publicly traded company focused exclusively on the North American less-than-truckload (LTL) market.
The company’s shares began regular trading on the New York Stock Exchange on 3 June under the ticker symbol FDXF, while FedEx Corporation continues to trade under the ticker FDX.
The move positions FedEx Freight as a standalone transportation and logistics provider with a dedicated focus on LTL operations, network optimisation and long-term growth opportunities.
As an independent business, FedEx Freight is seeking to build on its position as North America’s largest pure-play LTL carrier.
The company operates a network of more than 26,000 service centre doors and serves customers across the United States, Canada, Mexico, Puerto Rico and the U.S. Virgin Islands.
John Smith, President and Chief Executive Officer of FedEx Freight, said: “Today begins the next chapter for the new FedEx Freight. We move forward as an independent company with a sharpened focus and disciplined strategy to build on our competitive advantages and accelerate profitable growth.”
“As the largest pure-play LTL carrier in North America, we will leverage our comprehensive network with more than 26,000 service center doors to deliver cost and service advantages to our customers and capitalize on growth opportunities in high-potential verticals. With our safety above all culture and a world-class team, FedEx Freight is well positioned to unlock our full potential and deliver long-term stockholder value.”
The separation will allow it to focus more directly on operational execution, customer service and growth within the LTL sector.
FedEx Freight provides a range of transportation services designed to support diverse supply chain requirements, including Priority, Economy and Direct freight offerings.
Its subsidiary, FedEx Custom Critical, also provides expedited and time- or temperature-sensitive transportation services through offerings such as Surface Expedite and White Glove Services.
The company operates nearly 30,000 vehicles, including almost 17,000 tractors, supported by approximately 40,000 employees and a network of more than 365 locations.
These assets are supported by data-driven technology and operational efficiency initiatives designed to improve reliability, transit times and service performance.
The separation was completed through the distribution of 80.1% of FedEx Freight’s outstanding common shares to FedEx shareholders on a pro rata basis.
Under the transaction, FedEx shareholders received one share of FedEx Freight stock for every two shares of FedEx common stock held as of 15 May 2026.
FedEx retained 19.9% of FedEx Freight’s outstanding shares and stated that it intends to dispose of those shares within 24 months through debt-related exchanges and/or distributions to shareholders.
FedEx Freight enters the market as an independent company at a time when shippers continue to prioritise transportation reliability, network flexibility and cost efficiency across increasingly complex supply chains.
The company said its scale, service network and operational capabilities position it to pursue profitable growth opportunities while delivering strong cash flow and long-term shareholder value.
The spin-off also establishes FedEx Freight as a dedicated LTL provider, allowing management to focus exclusively on freight transportation operations and customer requirements within the North American supply chain market.
