FedEx Freight Holding Company, Inc. (FDXF)

FedEx Freight is the largest North American less-than-truckload (LTL) freight carrier, headquartered in Memphis, Tennessee. LTL service consolidates and transports shipments that do not require the full capacity of a truck trailer, using a hub-and-spoke network with cross-docking across terminals. Until June 1, 2026, the company operated as a group of wholly owned subsidiaries of FedEx Corporation. On that date FedEx completed a spin-off, distributing 80.1% of the company's common stock to FedEx shareholders, and the shares began trading on the NYSE under the ticker "FDXF." The company has also changed its fiscal year-end from May 31 to December 31, effective for the period beginning June 1, 2026.

Its LTL portfolio has two service offerings on a single integrated network. FedEx Freight Priority is a premium, time-definite service with published transit times, including next-business-day service up to 600 miles and second-business-day service up to 1,600 miles, backed by a money-back guarantee. FedEx Freight Economy is a value-oriented service for shipments with more flexible transit needs, generally without a money-back guarantee. Other offerings include FedEx Custom Critical (expedited, time-specific freight, including Surface Expedite and White Glove Services), Volume Services, FedEx Freight Direct (residential and commercial delivery) and Retail Flex. Customers can manage domestic and cross-border shipments through digital platforms, including LTL Select, a free cloud-based, multi-carrier transportation management system with quoting, booking, tracking and analytics.

The company serves about 108,000 active customers, from large national shippers to regional companies and small and medium-sized businesses. Its top five and top 25 customers made up 9% and 21% of revenue in fiscal 2026, and the largest customer about 4%. Its end markets include e-commerce, advanced manufacturing and healthcare logistics, and it is targeting growth in small and medium-sized businesses, healthcare, grocery, and data centers and energy. Service covers all 50 U.S. states, Canada and Mexico, plus most points in Puerto Rico and the U.S. Virgin Islands, and the company has partnerships for less-than-container load shipments in Europe and Asia.

As of June 1, 2026, the company had about 40,000 employees and over 365 locations, including roughly 355 shipping terminals and about 10 linehaul relay sites. It also had nearly 30,000 motorized vehicles, nearly 17,000 of them tractors, and more than 26,000 service center doors covering 98% of U.S. ZIP Codes. It uses route optimization, load planning, electronic logging devices, RFID tracking, proprietary dock software, and data analytics and AI for forecasting and risk management. Its products are marketed under trademarks owned by Federal Express Corporation and licensed under a Trademark License Agreement, and an Intellectual Property Cross-License Agreement with FedEx entities covers certain patents, know-how and copyrights. Competitors include local, regional and national LTL carriers, truckload carriers, small package carriers, private fleets, railroads, air freight carriers, third-party logistics providers and digital freight platforms. The North American LTL market has about 10 scaled players.