FedEx (FDX) stock surged in extended trading Thursday after the company announced plans to spin off its Freight business into

FedEx Shares Surge 8% on Freight Spinoff Announcement Despite Lower Full-Year Outlook

FedEx (FDX) stock surged in extended trading Thursday after the company announced plans to spin off its Freight business into a standalone entity. The process will begin immediately and is expected to be finalized within 18 months.

CEO Raj Subramaniam stated, “Through the separation, we believe we will unlock significant value for stockholders. The move will also allow both companies to benefit from enhanced focus and competitiveness.”

Citi analysts had previously speculated that a spinoff could unlock value, though they cautioned it might not be a long-term solution.”

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FedEx reported fiscal second-quarter revenue of $22 billion, slightly below analysts’ expectations of $22.14 billion and last year’s $22.17 billion. Profits also dropped to $741 million, down from $900 million a year earlier. Adjusted net income, however, came in at $990 million, exceeding analysts’ projections of $976.6 million.

Despite the Freight spinoff announcement, FedEx lowered its full-year outlook, now projecting flat revenue growth compared to earlier predictions of low single-digit percentage growth. It also revised its adjusted earnings per share forecast to $16.45–$17.45, down from $17.90–$18.90.

Following the news, FedEx shares jumped approximately 8% in extended trading and have”

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