FedEx will spin off FedEx Freight as a new, publicly traded company over the next 18 months, it said on Thursday.

FedEx Freight is the largest U.S. provider of less-than-truckload services, which involve carrying multiple shipments from different customers on a single truck; the shipments are then routed ...

The LTL group runs about 30,000 of those and handles an average of 92,000 shipments daily ... for our freight business and position FedEx to create even greater value for stockholders.” ...

FedEx Freight segment operating results decreased during the quarter due to fewer shipments ... for our Freight business and position FedEx to create even greater value for stockholder ...