FedEx News Updates

Severe winter weather, along with rising fuel prices, are taking a toll on some freight companies, prompting FedEx Corp. to reduce its earnings forecast for its current quarter by 25 cents a share.

FedEx Corp. cut its quarterly earnings forecast by 25 cents a share, due to rising fuel prices and winter storms that slowed its operations.

FedEx Freight, the second-largest less-than-truckload carrier in the nation, said it plans to use rail intermodal service for the first time as part of new “economy” freight service, beginning Jan. 31.

FedEx Corp.’s earnings fell 18% in the company’s fiscal second quarter to $283 million, reflecting one-time charges that included integration costs at the FedEx Freight less-than-truckload unit.

FedEx Corp. said Thursday its second-quarter earnings slipped to $283 million, or 89 cents per share, from $345 million, or $1.10, a year ago, on charges related to the impending restructuring of its less-than-truckload operations.

FedEx Corp. said Tuesday its FedEx Freight Canada unit has improved transit times on hundreds of cross-border routes between the United States and Canada.

FedEx Corp. has joined utilities, vehicle manufacturers and other companies in pushing for a tax credit for fleets that buy electric vehicles, Bloomberg reported.

FedEx Corp. said it expects to handle 223.3 million items between Thanksgiving and Christmas this year, an 11% increase over the same period last year.

The impending combination of FedEx Corp.’s two less-than-truckload networks is a “game-changing growth strategy” that will return FedEx Freight to profitability while maintaining volume in a slimmed-down LTL operation, the company’s top executive said last week.