FedEx Freight CY2025 recast: revenue $8.78B, EPS $7.08, profit down 26.5%
The takeaway is Bearish: FedEx Freight's recast calendar 2025 shows revenue of $8.78 billion, down 3.5%, net income of $1.06 billion, down 26.5%, and a small operating loss in the December quarter. Read it as history rather than guidance — this 8-K restates calendar 2024 and 2025 under a new cost presentation, offers no outlook, and warns the numbers are not what a standalone FedEx Freight would necessarily have reported.
1 · Expected vs. Actual
Free preview belowDiluted earnings per share were $7.08, down 26.5% from $9.63, and net income fell to $1.06 billion from $1.44 billion. Operating income dropped 33.3% to $1.02 billion, dragged by $206 million of "Separation and other" costs with no counterpart in 2024 and by a $14 million operating loss in the December quarter. Profit also leans hard on $373 million of related party interest income, which is 26.6% of the $1.40 billion of pre-tax income.
The twelve months ended December 31, 2025 produced $8.78 billion of revenue, down 3.5% from $9.09 billion, and the shortfall is volume: tonnage fell 3.8% to 10,309,718 tons and total shipments fell 3.1%. Pricing did not break — composite revenue per hundredweight excluding fuel surcharges rose 0.8% to $34.07 — so the top line shrank because fewer goods moved, not because rates collapsed. The filing's data tags put revenue at $8.80 billion, slightly above the $8,778 million in the tables.
Log in to read 5 analyses a week for free
Create a free account to read 5 full earnings analyses each week — all five steps: expected vs. actual, guidance tracker, money flow, balance sheet and risks. Members get unlimited access.
Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
Answers are based on the earnings release and the analysis above. Free accounts get 3 questions a week; members get 30 a day.