OREANDA-NEWS. For the first quarter, the FedEx Freight segment reported:

• Revenue of USD 1.61 billion, up 13% from last year's USD 1.42 billion

• Operating income of USD 168 million, up 70% from USD 99 million a year ago

• Operating margin of 10.4%, up from 7.0% the previous year

Less-than-truckload (LTL) average daily shipments increased 11%, including a 13% increase in demand for Priority service.  LTL revenue per shipment increased 3% due to higher weight per shipment, increased fuel surcharge revenue and higher rates.

Operating results improved due to increased LTL revenue per shipment, higher average daily LTL shipments and solid cost management.