FedEx Freight CEO says the spinoff will help the company 'leapfrog' competitors
Key points
- FedEx Freight CEO John Smith said on Monday the company's separation from FedEx will allow it to invest more aggressively in growth initiatives and better compete in the less-than-truckload shipping market.
- "The things that we are going to be able to control now, especially from a capital and investment perspective, be able to put dollars into the LTL company that are LTL specific...
- That's going to help us leapfrog the competitors," Smith said on CNBC's "Mad Money." FedEx Freight began trading as an independent company Monday after being spun off from FedEx.
- The company is the largest less-than-truckload (LTL) carrier in North America, a market that combines shipments from multiple customers onto the same truck, allowing businesses to move freight more efficiently than paying for an entire trailer.
- Other competitors in the industry include Old Dominion Freight Line, ArcBest, and XPO.
Quick Summary
FedEx Freight CEO John Smith said on Monday the company's separation from FedEx will allow it to invest more aggressively in growth initiatives and better
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Key Takeaways
- FedEx Freight CEO John Smith said on Monday the company's separation from FedEx will allow it to invest more aggressively in growth initiatives and better compete in the less-than-truckload shipping market.
- "The things that we are going to be able to control now, especially from a capital and investment perspective, be able to put dollars into the LTL company that are LTL specific...
- That's going to help us leapfrog the competitors," Smith said on CNBC's "Mad Money." FedEx Freight began trading as an independent company Monday after being spun off from FedEx.
- The company is the largest less-than-truckload (LTL) carrier in North America, a market that combines shipments from multiple customers onto the same truck, allowing businesses to move freight more efficiently than paying for an entire trailer.
- Other competitors in the industry include Old Dominion Freight Line, ArcBest, and XPO.
📌 Source: CNBC
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