Reported 11 months ago
Shares of FedEx surged by 15% as the company provided an optimistic annual profit forecast and contemplated selling or spinning off its freight trucking business valued at around $30 billion. The company anticipates earnings of $20 to $22 per share for fiscal 2025, aiming to enhance profitability through restructuring efforts. FedEx's review of its FedEx Freight trucking business, the largest in North America, could lead to significant valuation increases upon a potential sale as competing against Amazon and maximizing profits are top priorities for the company.
Source: YAHOO