Today, 10:45 AMFedEx to spin off its Freight unit on June 1 as part of a multiyear restructuring; at Investor Day it said fiscal Q3 adjusted EPS will top the $3.99 consensus and reaffirmed 2029 targets (about $98B revenue, about $8B operating income), with capex near historic lows including capping aircraft spend at no more than $1B through 2029 and about $6B annual free cash flow by FY2029. BofA reiterated Buy and raised its price target to $414, FedEx declared a $1.45 quarterly dividend (payable April 1, 2026), and it joined the Hedera Network Council to run a governing node as part of its supply-chain digitization push.
FedEx Corp. is a holding company, which engages in the provision of transportation, e-commerce, business services, and business solutions. It operates through the following segments: FedEx Express, FedEx Freight, Corporate, Other, and Eliminations. The FedEx Express segment offers transportation and delivery services. The FedEx Freight segment refers to freight transportation services to business and residences. The FedEx Services segment includes sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions that support the company's operating segments. The Corporate, Other, and Eliminations segment is involved in the corporate headquarters costs for executive officers and certain legal and finance functions, as well as certain other costs and credits not attributed to the firm's core business. The company was founded by Frederick Wallace Smith on June 18, 1971, and is headquartered in Memphis, TN.
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