FedEx Freight Reports Q1 Revenue Decline Amid LTL Market Challenges

FedEx Freight reports a decline in volume and revenue due to weak industrial production, global trade policy uncertainty, and excess capacity in the LTL industry. Average daily shipments dropped 6% YoY, and revenue declined 5% to nearly $2 billion. However, the segment achieved sequential increases in revenue per shipment and contractual price increases, and plans to capitalize on market recovery with an updated sales force and pricing discipline.