FedEx News Updates

FedEx Corp. has filed to spin off its freight division into its own stand-alone business, the company announced Jan. 16. The separation is on schedule to be completed June 1.

The results hovered around expectations by investment analysts on Wall Street, which had been looking for $4.07 per share and quarterly revenue of $22.88 billion.

From dedicated transport contracts to medical device, clinical trial, biopharma, cell and gene therapy logistics, there is a growing awareness of the opportunities available.

FedEx plans to cut hundreds of jobs in Texas after a third-party logistics customer opted to move its business to a new location and a different company.

The grounding of the workhorse freighter plane involved in a deadly crash in Kentucky may drag on for an “undeterminable period,” creating havoc for UPS, FedEx and a Florida-based carrier.

The grounding has drained capacity and complicated operations for the world’s largest package delivery companies just as shipping volumes surge for the peak period through Christmas.

Carriers attribute the softer outlook to shippers front-loading inventory earlier in the year due to tariff concerns, combined with cautious consumer spending amid inflation worries.

The changes to global trade and supply chains driven by factors including technology and geopolitical risks are likely to persist over the long term, according to FedEx CEO Raj Subramaniam.

FedEx spokeswoman Savannah Haeger said the order represents the first time the shipping company has paired an order in the medium-sized EV chassis space with an investment in the EV truck maker.

“What you’re seeing right now clearly is something of a relief rally when people have been pretty negative on the prospects for both FedEx and UPS,” said Ari Rosa, an analyst at Citigroup.