1644 ET - FedEx's fiscal 3Q non-GAAP per-share earnings figure includes a seven cent adjustment stemming from the planned spin-off of its freight trucking division. The spin is intended to streamline the company's structure and unlock value that some shareholders said had been lost inside the broader company. The company says it is progressing with the planned spin off, which when it was unveiled in December was expected to be complete within 18 months. Shares fall 4.9% in late trading after FedEx cut its fiscal outlook, despite posting higher sales and profit. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 20, 2025 16:44 ET (20:44 GMT)
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