Every material Form 8-K FedEx Freight has filed with the SEC since May 18, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
FedEx Freight reported financial results for the four-month transition period ended September 30, 2026, delivering revenue of $3.3 billion and diluted EPS of $1.54. The company also raised its full transition period revenue forecast to a range of $5.58 billion to $5.65 billion while providing its initial outlook for the quarter ending December 31, 2026.
Revenue for the four-month transition period ended September 30, 2026, reached $3.3 billion, representing a 9.2% increase year-over-year.
Operating income for the four-month period was $383 million, while adjusted operating income grew 16.4% to $510 million.
The company updated its transition period revenue outlook to $5.58 billion to $5.65 billion, exceeding its original growth forecast of 4% to 6%.
Capital expenditures for the four-month transition period totaled $151 million, with full transition period capital expenditures expected to be approximately $365 million.
Following its June 1, 2026 spin-off from FedEx Corporation, FedEx Freight filed unaudited recast 2025 and 2024 results under a new calendar fiscal year ending December 31. For calendar 2025, revenue, operating income, net income and diluted earnings per share all declined from 2024, and the company recorded $206 million in separation and other costs. The recast does not change previously reported totals, but it shows the year-over-year decline in the standalone results shareholders will track.
Calendar 2025 revenue was $8.78 billion, down from $9.09 billion in 2024.
Operating income was $1,022 million, down from $1,532 million; separation and other costs were $206 million in 2025 versus none in 2024.
Net income was $1,059 million, or $7.08 per diluted share, compared with $1,440 million, or $9.63 per diluted share, in 2024.
Fiscal year-end changed from May 31 to December 31; expense lines were regrouped, with no change to total revenue, operating income, net income or EPS.
FedEx Freight Holding's board committee approved a transition-year cash incentive plan for June 1 to December 31, 2026, a long-term equity program for 2026 to 2028, and spin-off-related bonuses and stock awards for executives. The filing also adopts a new equity award retirement policy, effective June 24, 2026, for awards granted on or after the spin-off.
Chief Executive John A. Smith's target cash incentive is 175% of prorated base salary; his long-term incentive target is 450% of annual base salary.
Performance measures include adjusted consolidated operating income for the cash plan, and adjusted free cash flow and adjusted earnings per share for long-term awards.
Spin-off RSUs with a $1,000,000 target value go to Mr. Smith, and Chief Financial Officer Marshall W. Witt receives a $585,000 cash bonus tied to the spin-off under his offer letter.
The awards are granted June 29, 2026, following the June 1, 2026 spin-off from FedEx Corporation.
FedEx Freight reported fourth-quarter fiscal 2026 revenue of $2.4 billion, up 4.8%, but operating income of $158 million fell 66.9%, with spin-off costs and higher wage rates cited as factors. The company also introduced standalone guidance for a seven-month transition period ending December 31, 2026, after its June 1, 2026 spin-off from FedEx Corporation and a change in its fiscal year-end.
Q4 fiscal 2026: revenue $2.4 billion (up 4.8%); operating income $158 million (down 66.9%); adjusted operating income $363 million (down 23.9%)
Full fiscal 2026: revenue $8.8 billion (down 1.1%); operating income $616 million (down 58.6%)
Transition period guidance: operating income $475 million to $515 million versus $394 million a year earlier; diluted EPS $2.40 to $2.60 after spin-off costs, excluding MTM retirement plan adjustments that the company cannot forecast
FedEx Freight completed its spin-off from FedEx on June 1, 2026, after FedEx distributed 80.1% of FedEx Freight common stock to FedEx stockholders. The company also entered into agreements with FedEx covering separation, transition services, taxes, employees, intellectual property, the FedEx Freight name, and stockholder matters, and it drew the full $600 million term loan on May 27 to help finance a cash dividend. For shareholders, these agreements define the ongoing relationship with FedEx, which retains 19.9% of the shares and will dispose of them within 24 months.
Spin-off effective 12:01 a.m. Central Time on June 1, 2026; FedEx Freight began regular-way trading on the NYSE as FDXF that day
FedEx stockholders received one FedEx Freight share for every two FedEx shares held of record as of May 15, 2026
FedEx retained 19.9% of FedEx Freight shares and will dispose of them within 24 months
Full $600 million Term Loan Facility drawn May 27, 2026; substantially all proceeds used to finance the Cash Dividend
On May 14, 2026, FedEx Freight named Guy M. Erwin II Senior Vice President and Chief Accounting Officer, effective June 1, 2026. He will remain FedEx Corporate Vice President and Chief Accounting Officer through May 31, 2026, and is expected to receive a special equity-based award. The filing ties the appointment to the planned separation of FedEx Freight from FedEx, so the change is administrative in nature and has no stated financial effect.
Named May 14, 2026; role begins June 1, 2026.
Erwin, 49, has been FedEx Corporate Vice President and Chief Accounting Officer since May 2024, through May 31, 2026.
Expected to receive a special equity-based award, a base salary, and eligibility for incentive plans, including the FedEx Freight 2026 Omnibus Stock Incentive Plan.
The filing reports no related-person transactions under Item 404(a) of Regulation S-K.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every FedEx Freight filing is on SEC EDGAR ↗. 8-K briefs of other companies →