FedEx Freight's Quarterly Earnings Preview: What You Need to Know

With a market cap of $17.3 billion, FedEx Freight Holding Company, Inc. (FDXF) is North America’s largest less-than-truckload (LTL) carrier, offering Priority, Economy and Direct services that help customers balance speed, cost and reliability. With a broad network supported by nearly 30,000 vehicles, 40,000 team members and more than 365 locations, the company uses operational efficiency and data-driven technology to deliver freight across North America.

The Memphis, Tennessee-based company is expected to announce its earnings after the market closes on Thursday, Oct. 29. Ahead of this event, analysts forecast FDXF to report a profit of $1.43 per share, down 99.9%.

For fiscal 2026, analysts predict FedEx Freight to post an EPS of $4.48, a decline of 99.6%. However, EPS is anticipated to grow nearly 15% year-over-year to $5.15 in fiscal 2027. 

Shares of FedEx Freight have decreased 23.6% over the past three months, lagging behind both the S&P 500 Index's ($SPX) 3.2% gain and the State Street Industrial Select Sector SPDR ETF’s (XLI) 6.9% drop over the same period. 

Despite reporting better-than-expected Q4 2026 revenue of $2.4 billion on Jun. 25, FedEx Freight (FDXF) shares dipped 2.9% the next day, as operating income plunged 66.9% to $158 million, adjusted operating income declined 23.9% to $363 million, and operating margin fell to 6.6%. The quarter also showed weaker demand, with average daily shipments down 5.9% to 86.7 thousand, while the company’s 4.8% revenue growth to $2.4 billion was largely driven by fuel surcharges and higher weight per shipment rather than volume growth.

Investor concerns were compounded by incremental separation costs, higher wage rates and lower shipments, while the new seven-month outlook offered only 4% - 6% revenue growth and $605 million - $645 million of adjusted operating income.

Analysts' consensus view on FDXF stock is cautiously optimistic, with a "Moderate Buy" rating overall. Among 14 analysts covering the stock, eight recommend "Strong Buy," one suggests "Moderate Buy," and five advise "Hold." This configuration is more bullish than three months ago, with six analysts suggesting a "Strong Buy."

The average analyst price target for LMT is $646.33, suggesting a potential upside of 26.2% from current levels.