°®¶¹´«Ã½

FedEx Corp. continued efforts to improve profitability during its fiscal third quarter despite navigating an especially challenging operating environment, the company said.

FedEx is the latest U.S. company to sound the alarm over weakening consumer confidence and potential fallout from President Donald Trump’s escalating trade war.

Substantial change is expected in the U.S. less-than-truckload sector in 2025, according to market observers and executives, headed by the long-awaited freight market turnaround.

Shares in companies that are spun off from existing firms tend to outperform the S&P 500 by an average of 10% over the subsequent 18-24 months, data compiled by Trivariate show.

Wall Street analysts offered overall positive initial reactions to the Dec. 19 news that FedEx Corp. plans to by 2026 spin off its LTL division into a separate, publicly traded company.

The Memphis, Tenn.-based transportation services company on Dec. 19 reported net income of $740 million, or $3.03 a diluted share, for the three months ending Nov. 30.

FedEx Corp. on Dec. 19 announced its intent to spin off its FedEx Freight unit into a separate company, creating the largest publicly traded LTL carrier in North America in the process.

FedEx Freight informed team members internally May 1 that it will be closing 29 freight locations and furloughing certain job classes.

FedEx Corp.’s shares jumped the most in nine months after the courier boosted its profit outlook, signaling efforts to cut costs are helping counter a decline in package volume.

FedEx Corp.’s freight unit is putting workers on furlough in some U.S. markets, adding to mounting evidence of a cargo slowdown as the company joins other large employers trimming their ranks.