FedEx to Spin Off FedEx Freight as a Separate Public Company

Today, FedEx (FDX, Financial) is making headlines with its announcement to spin off its FedEx Freight division into a separate publicly traded company. FedEx shares rose 4.9% following the announcement.

The enterprise value of FedEx Freight is expected to be more than $30 billion marking its impressive contribution to FedEx’s revenues.

FedEx Freight, which is set to become a separate publicly traded company, contributed $9.4 billion in revenue in 2023. This makes it the largest business segment by sales in the less-than-truckload (LTL) industry.

By FedEx spinning off the business, FedEx Freight can become a separate independent entity that unlocks its value to public shareholders.

You can make more informed investment decision by visiting GuruFocus now and deep dive into FedEx‘s performance with charts, breakdowns, 30-year financial data, and more!

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