FedEx Freight Holding Company, Inc. — Form 8-K

FedEx Freight (FDXF), recently spun off from FedEx Corp, reported 4-month transition period (June–Sept 2026) revenue of $3.3B (+9.2% YoY) and adjusted operating income of $510M (+16.4% YoY), with adjusted operating margin of 15.5% (+90 bps). GAAP diluted EPS was $1.54 (−43%), but adjusted EPS was $2.15 (−24.6%), depressed by $127M in separation costs and lower mark-to-market gains on retirement plans. The company raised full-year guidance: now forecasts $5.58–$5.65B revenue (vs. prior 4–6% growth), $695–$715M adjusted operating income (vs. $605–$645M), and diluted EPS of $2.80–$2.90 after adjustments. Shipment volumes declined 1.4% (88.9k avg daily), but base revenue per hundredweight and fuel surcharges drove top-line growth. Cash position: $388M; total liquidity $1.6B; repaid $100M debt ahead of schedule.