FedEx Freight Guides to 4-6% Revenue Growth in First Outlook Since Spin-Off

Summary

Newly separated FedEx Freight expects revenue to rise 4-6% over the seven months to December 31, with adjusted operating profit of $605m-$645m against $600m a year earlier. Fourth-quarter revenue to May 31 rose 4.8% to $2.4bn on higher fuel surcharges and heavier average shipment weights, beating consensus of $2.26bn.