FedEx Freight Targets 12 Percent Growth Before Spinoff
FedEx Freight targets 12% profit growth ahead of its June 1 spinoff. The trucking unit also set a medium-term revenue growth goal of up to 6% on Wednesday.
The trucking division of FEDEX CORP has unveiled its medium-term financial objectives as it prepares for its debut as an independent, publicly traded company. FedEx Freight announced a target for compounded operating income growth of 10% to 12%, signaling a focus on profitability ahead of its inaugural investor day this Wednesday.
As the leading provider of less-than-truckload shipping services in the United States, the unit is scheduled to officially separate from its parent corporation on June 1. This strategic move will transform the freight arm into a standalone entity listed on the public markets.
