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FedEx Freight is poised to become North America’s largest independent LTL carrier

The June 1 spinoff is locked in. Here’s what shippers, investors, and the LTL market need to know.

On June 1, 2026, the freight industry’s competitive landscape will change permanently.

FedEx Corporation will complete the spinoff of FedEx Freight into an independent, publicly traded company, establishing the largest standalone less-than-truckload carrier in North America. The new entity will trade on the NYSE under the ticker FDXF, generate nearly $9 billion in annual revenue, and operate with a 15.8% operating margin, a benchmark most LTL competitors aspire to achieve.

FedEx’s decision to separate Freight reflects a broader strategic shift to prioritize focused operations and profitability over conglomerate scale.

After the spinoff, FedEx will focus exclusively on parcel, ground, and express services. FedEx Freight will have full autonomy over pricing, network strategy, and capital allocation, tailored specifically to the LTL market without the constraints of a parcel-focused corporate structure.

Mar 5: FedEx Freight is poised to become North America’s largest independent LTL carrier

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