FedEx Freight

Earnings per share for the fiscal fourth quarter at $4.25 on an adjusted basis were well ahead of Wall Street estimates of $3.88 and up 22.4% annually. Revenue was up 17.2% at $15.7 billion, and operating income at $1.76 billion was up 14.3%. For Fiscal Year 2017, revenue at $60.3 billion was up 16.5%, and operating income was up 8.6% at $5.48 billion.

UAM took its long-standing partnership with FedEx to another level, with its usage of FedEx's Freight Box, which created opportunities and efficiencies UAM was lacking with its wooden pallets and boxes. The Freight Box is essentially a pre-assembled box that comes in two sizes.

Logistics Management Group News Editor Jeff Berman had an opportunity to speak with FedEx Freight President and CEO Mike Ducker at this week's National Shippers Strategic Transportation Council (NASSTRAC) Annual Conference. Ducker provided Berman with insights and observations on various topics, including the current state of infrastructure, the need for Twin 33-foot trailers, safety, and the economy, among other topics.

Quarterly revenue at $14.93 billion was up 16.6 percent annually, operating income at $1.167 billion was up 2.6 percent, and net income at $700 million was up 1.3 percent. Earnings per share at $2.80 were up 7.9 percent annually but did not meet Wall Street expectations of $2.91 per share.

Quarterly net income at $691 million was up 4 percent annually, and revenue at $12.5 billion was up 4.8 percent. Operating income at $1.14 million was up 4.4 percent. Quarterly operating margin—at 9.1 percent—was flat, and adjusted earnings per share of $2.58 were up nearly 16 percent and ahead of Wall Street estimates of $2.51 per share.

FedEx Freight and Con-way Freight, two of the largest non-union LTL carriers in the nation, are battling organizing efforts by the Teamsters union in a closely watched unionization effort.

Transportation and logistics titan FedEx said today that Bill Logue, president and CEO of FedEx Freight, its less-than-truckload subsidiary, will retire from his position, effective December 31, 2014. FedEx officials said Logue cited health concerns as the reason for retirement.

FedEx Freight and Con-way Freight, two of the largest non-union LTL carriers in the nation, are battling organizing efforts by the Teamsters union in a closely watched unionization effort.

The Memphis-based company reported today that quarterly net income of $606 million was up 24 percent annually, and revenue, at $11.7 billion, was up 6 percent. Operating income at $987 million was up 24 percent.

As was the case from a company perspective, fiscal fourth quarter output for less-than-truckload market leader FedEx Freight was strong, the company reported in its earnings announcement this week.

Effective January 1, 2015, FedEx will apply dimensional weight pricing to all shipments moved via FedEx Ground, and at FedEx Freight, the company’s less-than-truckload group, FedEx has updated its fuel surcharges for the U.S. and Canada by 3 percent.

FedEx Freight, the less-than-truckload (LTL) subsidiary of FedEx, opened up a new container freight station at its facility in Chicago Summit, Ill. This facility will consolidate and sort freight heading to Puerto Rico.

FedEx Freight, the less-than-truckload (LTL) subsidiary of transportation and logistics bellwether FedEx, announced today that it will implement a General Rate Increase (GRI) of 3.9 percent for non-contractual freight, effective March 31.

The Memphis-based transportation and logistics bellwether also reported that quarterly revenue of $11.4 billion was up 3 percent from last year’s $11.1 billion, and operating income at $827 million was up 15 percent from $718 million.

LM Group News Editor Jeff Berman recently spoke with Bill Logue, president and CEO of FedEx Freight, the less-than-truckload subsidiary of FedEx, at the NITL/IANA Transcomp event in Houston about various industry topics, including rates, regulation, and infrastructure, among others.