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FedEx remains on track with the planned spinoff of its freight division into a new publicly traded company, executives said while discussing Q3 results.

FedEx said in a filing that it has suffered injury from having to pay the tariffs and that the relief it's seeking from the court would redress those injuries.

FedEx CEO Raj Subramaniam believes technological advancements around digital intelligence have set the current moment apart, with their ability to act as a value multiplier.

The Jan. 27 four-part offering includes notes maturing in three to 10 years, Bloomberg reported. FedEx said in December 2024 it would separate its freight business as part of a broader effort.

FedEx has filed to spin off its freight division into its own stand-alone business, the company announced Jan. 16. The separation is on schedule to be completed June 1.

The results hovered around expectations by investment analysts on Wall Street, which had been looking for $4.07 per share and quarterly revenue of $22.88 billion.

FedEx Freight said it delayed enforcing the NMFC changes "to help our customers adapt and ensure a smooth transition to the new, streamlined NMFC classes."

Marshall Witt's appointment marks a return to familiar ground. He spent 15 years at FedEx earlier in his career, including in senior finance leadership positions at FedEx Freight.

“Customers who want to begin using the new classes now are welcome and encouraged to do so; there is no requirement to wait until Dec. 1,” the company told Transport Topics.

“It is with profound sadness and a heavy heart that I share that Frederick W. Smith, our founder and executive chairman, died earlier today,” CEO Raj Subramaniam wrote June 21.