trucking

FedEx Freight Launches as Independent Carrier on NYSE

FedEx Freight officially commenced operations as a standalone company Monday, marking the completion of its separation from FedEx Corporation announced in December 2024. The less-than-truckload carrier began trading on the New York Stock Exchange under ticker FDFX. Shares also joined the S&P 500 and Dow Jones Transportation Average. FedEx's board approved the spinoff May 13. The $9 billion company operates a network of more than 26,000 service center doors and plans to leverage its scale to enhance customer value and pursue vertical market opportunities. "We move forward as an independent company with a sharpened focus and disciplined strategy to build on our competitive advantages," said CEO John Smith. FedEx distributed 80.1% of FedEx Freight's outstanding shares to shareholders to complete the separation.