FedEx Corp. on Friday filed its Form 10 registration statement with the U.S. Securities and Exchange Commission (SEC), marking a major milestone in the planned spin-off of FedEx Freight.
The separation, expected to be completed on June 1, 2026, will establish FedEx Freight as an independent, publicly traded company on the New York Stock Exchange under the ticker symbol FDXF.
A new chapter for the LTL leader
FedEx Freight currently stands as the largest North American Less-Than-Truckload (LTL) carrier. The transition aims to allow the company to operate with a more focused LTL model, which leadership believes will unlock long-term value for stockholders and improve service for customers.
"Today’s filing is a key milestone in our journey toward being an independent company, positioned to deliver greater value as the premier LTL freight carrier in North America," said John Smith, the incoming president and CEO of FedEx Freight.
Strategic priorities and competitive edge
According to the filing, FedEx Freight will focus on three primary strategic pillars to maintain its market leadership:
- Accelerating growth: Targeting high-value, resilient industry verticals through a dedicated sales organization.
- Network modernization: Continued investment in technology and infrastructure.
- Operational efficiency: Streamlining the business to maximize the benefits of an LTL-focused model.
The company brings a formidable foundation to the market, reporting $8.9 billion in 2025 revenue and a 15.8% operating margin. Its physical footprint includes 355 service terminals and 26,000 doors, providing unrivaled scale and proximity to high-density population centers.
Outlook
The new entity will be powered by a workforce of 39,000 team members, including drivers. Beyond standard LTL shipping, the company will continue to offer FedEx Custom Critical, providing 24/7/365 white-glove and time-specific services.
FedEx Corp. President and CEO Raj Subramaniam noted that the separation will better position both companies to serve their respective markets. The spin-off is intended to be tax-free for U.S. federal income tax purposes for FedEx and its stockholders.
