FedEx Freight Holding Company, Inc. today reported financial results for the four-month transition period ended September 30, 2026. This period marks the company's first four months as an independent, publicly traded entity following its spin-off from FedEx Corporation on June 1, 2026.
For the four months ended September 30, 2026, revenue was $3.3 billion, representing a 9.2% increase compared to the prior year. This growth was driven by favorable fuel surcharge revenue, higher weight per shipment, an additional operating day, and an increase in base revenue per hundredweight. However, operating income decreased by 6.1% year-over-year to $383 million, while adjusted operating income increased by 16.4% to $510 million.
Key operational metrics included an average daily shipment count of 88.9 thousand, a 1.4% decrease, and a revenue per shipment of $413.00, a 10.1% increase. The company reported a diluted EPS of $1.54, a 43% decrease, while adjusted diluted EPS was $2.15, a 24.6% decrease.
As of September 30, 2026, FedEx Freight had $388 million in cash and cash equivalents and total liquidity of $1.6 billion. During the period, the company repaid $100 million of outstanding debt ahead of schedule. Capital expenditures for the four months were $151 million, with an expectation of approximately $365 million for the entire Transition Period (June 1 through December 31, 2026).
The company provided updated guidance for the Transition Period, forecasting revenue between $5.58 billion and $5.65 billion, adjusted operating income between $695 million and $715 million, and diluted EPS between $2.80 and $2.90 (excluding spin-off costs). For the three months ending December 31, 2026, the company forecasts revenue of $2.30 billion to $2.37 billion and adjusted operating income of $185 million to $205 million.
