FedEx Freight sees volumes stabilize, eyes Q4 margin improvement
FedEx Freight reported Thursday that volumes continue to stabilize, and it anticipates stronger operating leverage next year, bolstered by business wins and an improved freight mix from its dedicated sales teams.
The nation’s largest less-than-truckload carrier, FedEx Freight, said Thursday that volumes have continued to stabilize and that it expects to see stronger operating leverage next year as a standalone company. Its local, dedicated LTL sales teams are seeing business wins and driving a better freight mix across the network.
FedEx Freight (NYSE: FDXF) completed its spinoff from FedEx (NYSE: FDX) in June. FedEx reported financial results on Wednesday.
The carrier reported four-month results (June through September) Thursday after the market closed as part of a transition to calendar-year financial reporting.
Revenue in the period increased 9% year over year to $3.28 billion. Revenue per day was up 8%. Adjusted earnings per share of $2.15 were 70 cents lower y/y.
This story was originally published by FreightWaves. Read the full story at FreightWaves →
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