<PAGE>
                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC 20549

                                   FORM 10-Q

[X]  Quarterly  Report  Pursuant  to Section 13 or  15(d)  of  the  Securities
     Exchange Act of 1934 for the period ended September 30, 1995

                                      or

[ ] Transition  Report  Pursuant to Section 13 or  15(d)  of  the  Securities
    Exchange  Act  of 1934 for the transition period from _______________  to
    _______________
                                       
                        Commission File Number 1-10006

                     Frozen Food Express Industries, Inc.
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            (Exact name of registrant as specified on its charter)

          Texas                                           75-1301831
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(State or other jurisdiction of                          (IRS Employer
 incorporation or organization)                        Identification No.)

  1145 Empire Central Place       Dallas, Texas           75247-4309
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    (Address of principal executive offices)              (Zip Code)

                                (2l4) 630-8090
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             (Registrant's telephone number, including area code)

                                     None
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             (Former name, former address and former fiscal year,
                         if changed since last report)

Indicate  by  check  mark whether the registrant (l)  has  filed  all  reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act  of
1934  during  the  preceding 12 months (or for such shorter  period  that  the
registrant  was  required to file such reports), and (2) has been  subject  to
filing requirements for the past 90 days.

                            [X] Yes        [ ] No

As  of  November 8, 1995, 16,242,411 shares of the Registrant's Common  Stock,
$1.50 par value, were outstanding.
<PAGE 1>
                                     INDEX
<TABLE>
<CAPTION>
                  PART I - FINANCIAL INFORMATION           
                                                           
                                                               Page No.
<S>      <C>                                                   <C>
Item l.  Financial Statements                                
                                                             
         Consolidated Condensed Balance Sheets -             
         September 30, 1995 and December 31, 1994                  2
                                                             
         Consolidated Statements of Income -                 
         Three and nine months ended  September 30, 1995       
         and 1994                                                  4
                                                             
         Consolidated Condensed Statements of Cash Flows -
         Nine months ended September 30, 1995 and 1994             5
                                                             
         Notes to Consolidated Condensed Financial Statements      6
                                                             
Item 2.  Management's Discussion and Analysis of             
         Financial Condition and Results of Operations             8
                                                             
                                                             
                   PART II - OTHER INFORMATION               
                                                             
Item 6.  Exhibits and Reports on Form 8-K                         11
                                                             
         Exhibit 27.1 - Financial Data Schedule                   13
</TABLE>
<PAGE 2>
             FROZEN FOOD EXPRESS INDUSTRIES, INC. AND SUBSIDIARIES
                     Consolidated Condensed Balance Sheets
                                (In thousands)
                                  (Unaudited)
<TABLE>
<CAPTION>
                                                  Sept.30,        Dec. 31,
                                                    1995            1994 
                                                  --------        --------
<S>                                               <C>             <C>
Assets                                                  
Current assets                                          
  Cash and cash equivalents                       $  3,591        $  4,381
  Accounts receivable, net                          41,319          36,643
  Inventories                                        7,917           8,006
  Tires                                              4,629           4,334
  Other                                              4,044           3,692
                                                   -------         -------
    Total current assets                            61,500          57,056
                                                   -------         -------
                                                        
Property and equipment                                  
  Revenue equipment                                 63,276          64,401
  Other                                             34,959          32,439
                                                   -------         -------
                                                    98,235          96,840
  Less depreciation                                 44,441          42,679
                                                   -------         -------
    Net property and equipment                      53,794          54,161
                                                   -------         -------
Other assets                                         8,731           5,619
                                                   -------         -------
                                                  $124,025        $116,836
                                                   =======         =======
</TABLE>
                            See accompanying notes.
<PAGE 3>
             FROZEN FOOD EXPRESS INDUSTRIES, INC. AND SUBSIDIARIES
               Consolidated Condensed Balance Sheets, Continued
                                (In thousands)
                                  (Unaudited)
<TABLE>
<CAPTION>
                                                  Sept.30,        Dec. 31,
                                                    1995            1994
                                                  --------        --------
<S>                                               <C>             <C>
Liabilities and Shareholders' Equity                    
Current liabilities                                     
  Trade accounts payable                          $ 12,839        $ 12,580
  Accrued claims liabilities                         8,400           7,712
  Accrued payroll                                    4,238           5,006
  Federal income tax payable                           466              --
  Other                                              6,090           6,135
                                                   -------         -------
    Total current liabilities                       32,033          31,433
                                                        
Long-term debt                                       6,000           9,000
Other and deferred credits                          13,157          12,115
                                                   -------         -------
  Total liabilities and deferred credits            51,190          52,548
                                                   -------         -------
                                                                 
Shareholders' equity                                                 
  Common stock                                      25,921          25,921
  Paid-in capital                                    1,505              --
  Retained earnings                                 49,761          43,513
                                                   -------         -------
                                                    77,187          69,434
                                                                      
  Less - Treasury stock and receivable from ESOP     4,352           5,146
                                                   -------         -------
  Total shareholders' equity                        72,835          64,288
                                                   -------         -------
                                                  $124,025        $116,836
                                                   =======         =======
</TABLE>
                            See accompanying notes.
<PAGE 4>
             FROZEN FOOD EXPRESS INDUSTRIES, INC. AND SUBSIDIARIES
                       Consolidated Statements of Income
                   (In thousands, except per-share amounts)
                                  (Unaudited)
<TABLE>
<CAPTION>
                                   For the Three Months    For the Nine Months
                                    Ended September 30,    Ended September 30,
                                   --------------------    -------------------
                                     1995        1994        1995       1994
                                   --------    --------    --------   --------
<S>                                 <C>        <C>         <C>        <C>
Revenue                                                          
  Freight revenue                   $68,646     $65,273    $197,614   $186,531
  Non-freight revenue                 7,132       7,262      18,979     16,608
                                     ------      ------     -------    -------
                                     75,778      72,535     216,593    203,139
                                     ------      ------     -------    -------
Operating Expenses                                              
  Freight operating expenses                                    
    Salaries, wages and related 
      expenses                       17,346      15,987      50,270     46,267
    Purchased transportation         15,364      14,012      42,771     39,821
    Supplies and expenses            19,315      17,836      54,533     50,591
    Revenue equipment rent            3,647       4,016      12,357     11,512
    Communications and utilities        935         880       2,592      2,469
    Insurance and claims              4,622       3,341      11,213      9,723
    Depreciation                      2,671       2,365       8,003      7,342
    Operating taxes and licenses      1,252       1,280       3,756      3,656
    Gain on sale of equipment          (191)       (158)       (659)      (382)
    Miscellaneous expense               620         586       1,822      1,759
                                     ------      ------     -------    -------
                                     65,581      60,145     186,658    172,758
  Non-freight costs and operating                                
   expenses                           6,614       6,913      17,313     15,984
                                     ------      ------     -------    -------
                                     72,195      67,058     203,971    188,742
                                     ------      ------     -------    -------
Income from operations                3,583       5,477      12,622     14,397
                                                                 
Interest and other                     (634)       (382)     (1,614)    (1,041)
                                     ------     -------     -------    -------
                                                                   
Income before income tax              2,949       5,095      11,008     13,356
Provision for income tax                847       1,661       3,311      4,390
                                     ------      ------     -------    -------
                                                                 
Net income                          $ 2,102     $ 3,434    $  7,697   $  8,966
                                     ======      ======     =======    =======
                                                                      
Net income per share of common                                      
  stock                                                                    
  Primary and fully diluted         $   .13     $   .21    $    .47   $    .55
                                     ======      ======     =======    =======
                                                                 
Weighted average fully diluted
  shares                             16,538      16,503      16,494     16,443
                                     ======      ======     =======    =======
</TABLE>
                            See accompanying notes.
<PAGE 5>
             FROZEN FOOD EXPRESS INDUSTRIES, INC. AND SUBSIDIARIES
                Consolidated Condensed Statements of Cash Flows
                                (In thousands)
                                  (Unaudited)
<TABLE>
<CAPTION>
                                                          For the Nine
                                                     Months Ended Sept. 30,
                                                     ----------------------
                                                       1995          1994
                                                     --------      --------
<S>                                                  <C>           <C>                                                        
Net cash provided by operating activities            $ 12,548      $  9,508
                                                      -------       -------
                                                                    
Cash flows from investing activities                               
  Business dispositions (acquisitions)                  2,050          (937)
  Expenditures for property and equipment              (9,328)       (6,939)
  Proceeds from sale of property and equipment          1,735         5,385
  Company owned life insurance                         (3,410)         (978)
  Other                                                  (830)          125
                                                      -------       -------
                                                        
Net cash used in investing activities                  (9,783)       (3,344)
                                                      -------       -------
                                                         
Cash flows from financing activities                    
  Borrowings under revolving credit agreement          29,000        20,000
  Payments against revolving credit agreement         (32,000)      (25,000)
  Dividends paid                                       (1,449)       (1,139)
  Net treasury stock activity                             894           929
                                                      -------       -------
                                                                           
Net cash  provided by (used in)
  financing activities                                 (3,555)       (5,210)
                                                      -------       -------
                                                        
Net  increase in cash and cash equivalents               (790)          954
Cash and cash equivalents at beginning of year          4,381         3,834
                                                      -------       -------
                                                        
Cash and cash equivalents at end of quarter          $  3,591      $  4,788
                                                      =======       =======
</TABLE>
                            See accompanying notes.
<PAGE 6>
             FROZEN FOOD EXPRESS INDUSTRIES, INC. AND SUBSIDIARIES
             Notes to Consolidated Condensed Financial Statements
                          September 30, 1995 and 1994
                                  (Unaudited)

1.   BASIS OF PRESENTATION

The  consolidated condensed financial statements include Frozen  Food  Express
Industries,  Inc.  (FFEX) and its subsidiary companies (the company),  all  of
which   are   wholly  owned.   All  significant  intercompany   accounts   and
transactions  have  been eliminated in consolidation. The condensed  financial
statements  included  herein have been prepared  pursuant  to  the  rules  and
regulations of the Securities and Exchange Commission (SEC) and have not  been
audited  or  reviewed by independent public accountants.  In  the  opinion  of
management,  all  adjustments  (which  consisted  only  of  normal   recurring
accruals)  necessary to present fairly the financial position and  results  of
operations  have  been  made. Pursuant to SEC rules and  regulations,  certain
information and disclosures normally included in financial statements prepared
in   accordance  with  generally  accepted  accounting  principles  have  been
condensed  or  omitted from these statements unless significant  changes  have
taken place since the end of the most recent fiscal year.  FFEX believes  that
the  disclosures contained herein, when read in conjunction with the financial
statements and notes included, or incorporated by reference, in FFEX's Form 10-
K  filed  with the SEC on March 29, 1995, are adequate to make the information
presented  not misleading.  It is suggested, therefore, that these  statements
be   read  in  conjunction  with  the  statements  and  notes  (included,   or
incorporated by reference), in the aforementioned report on Form 10-K.

2.   FINANCING AND INVESTING ACTIVITIES NOT AFFECTING CASH

During  the nine months ended September 30, 1995 and 1994, the company  funded
contributions to its Employee Savings Plan by transferring 61,734  and  48,628
shares,  respectively, of treasury stock to the Plan trustee. The fair  market
value  of  the  transferred shares was approximately  $691,000  for  1995  and
approximately $779,000 for 1994.

3.   SHAREHOLDERS' EQUITY

As  of  September 30, 1995 and 1994, respectively, there were  16,229,347  and
12,757,111 shares of stock outstanding.

4.   COMMITMENTS AND CONTINGENCIES

The company has accrued for costs related to public liability and work-related
injury  claims,  some  of which involve litigation.  The aggregate  amount  of
these claims is significant.  In the opinion of management, these actions  can
be  successfully defended or resolved, and any additional costs incurred  over
amounts  accrued  will  not have a material adverse effect  on  the  company's
financial position or results of operations.

5.   NET INCOME PER SHARE

For  1994,  net  income  per share and weighted shares outstanding  have  been
restated to give effect to a 5-for-4 stock split effected in the form of a 25%
stock dividend paid during March, 1995.
<PAGE 7>
6.   PRIOR PERIOD AMOUNTS

Certain  prior period amounts have been reclassified to conform  with  current
year presentation.
<PAGE 8>
                    MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                 FINANCIAL CONDITION AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

The table sets forth, as a percentage of freight revenue, certain major
operating expenses for the three- and nine-month periods ended September 30,
1995 and 1994.
<TABLE>
<CAPTION>
                                         Three Months        Nine months
                                       Ended Sept. 30,     Ended Sept. 30,
                                      -----------------   -----------------
                                       1995       1994     1995       1994
                                      ------     ------   ------     ------
<S>                                   <C>       <C>       <C>       <C>         
Salaries, wages and related expense    25.3%     24.5%     25.4%     24.8%
Purchased transportation               22.4      21.5      21.6      21.3
Supplies and expenses                  28.1      27.3      27.6      27.1
Revenue equipment rent                  5.3       6.1       6.3       6.2
Insurance and claims                    6.7       5.1       5.7       5.2
Depreciation                            3.9       3.6       4.0       3.9
Other                                   3.8       4.0       3.9       4.1
                                      ------    ------    ------    ------
Total freight operating expenses       95.5%     92.1%     94.5%     92.6%
                                      ======    ======    ======    ======
</TABLE>

Third Quarter of 1995 vs. 1994

During  most  of  1995 the motor carrier industry, including  the  temperature
controlled segment in which the company is primarily involved, has experienced
declines  in  productivity  and  equipment utilization  due  primarily  to  an
increase  in the number of trucks compared to the amount of freight  available
for transport.

During  years prior to 1995, truck availability had been reduced  by  periodic
shortages of truck drivers.  It has been estimated that as much as 5% to 8% of
the  full-truckload fleets were parked during parts of 1994 due to a  lack  of
qualified  driver personnel.  Driver shortages have not been prevalent  during
1995 which has increased the number of available trucks.

The  devaluation  of  the  Mexican peso during the latter  part  of  1994  has
significantly  reduced  the amount of U.S. freight transported  by  all  motor
carriers  to Mexico.  Trucks which previously were devoted to these operations
now compete for domestic freight transportation further exacerbating the over-
supply of trucks.

The  imbalance of trucks and freight causes per-truck utilization and  freight
rates to decline resulting in a narrowing of profit margins.
<PAGE 9>
During  the  third quarter of 1995, revenue increased by 4.5%  to  $75,778,000
with  freight  revenue  up $3.4 million or 5.2% and non-freight  revenue  down
$130,000 or 1.8%.  Less-than-truckload (LTL) revenue was 2.9% lower while full-
truckload revenue increased by 9.8% as compared to the same quarter  of  1994.
Full-truckload activities accounted for 67% and 64% of freight revenue  during
the third quarter of 1995 and 1994, respectively.

The  decrease in LTL revenue resulted primarily from a decrease in the  number
of  shipments  transported.   General softness  in  the  perishable  commodity
transportation  industry resulted in decreased LTL shipments  during  1995  as
compared to 1994.

The  increase in full-truckload revenue resulted primarily from a 16% increase
in  the  number of shipments transported.  The effect of this increased volume
was partially diminished by reduced average shipment revenue.

The  number  of  tractors  in  the  fleet of company-operated,  full-truckload
equipment  rose  from approximately 1,000 at the beginning of  1995  to  about
1,100  by  the end of the quarter, while the number of full-truckload tractors
provided by owner-operators increased by about 130 units.

Full-truckload  activities, which contributed 67% and 64% of  freight  revenue
during  the  third  quarters  of 1995 and 1994,  respectively,  are  conducted
primarily  with company-operated equipment, while LTL activities are conducted
primarily  with equipment provided by owner-operators.  This increase  in  the
percentage  of freight revenue derived from full-truckload shipments  impacted
the percent of freight revenue absorbed by the various categories of operating
expenses between the two quarters.

During  1994,  the  company  expanded transportation  services  for  customers
shipping  products to and from Mexico and Canada.  Approximately 6% of  1994's
freight  revenue  was  derived from international  activities.   During  1995,
efforts  to  continue  expanding international services have  been  negatively
affected by the devaluation of the Mexican peso.

As  of  September  30,  1995, approximately 26% of  the  full-truckload  fleet
consisted  of  tractors  provided by owner-operators as  compared  to  22%  at
January  1,  1995,  September 30, 1994 and January 1,  1994.   This  increased
participation  by  the  owner-operator fleet has  also  affected  the  mix  of
operating expenses as a percent of freight revenue.  Purchased transportation,
which  consists primarily of payments to owner-operators, increased from 21.5%
of  freight  revenue  for the third quarter of 1994 to 22.4%  for  1995.  This
increase  is  primarily related to the less rapid expansion  of  the  company-
operated,  full-truckload fleet.  Revenue equipment rent, which  is  primarily
related to the company-operated, full-truckload fleet, fell from 6.1% to  5.3%
of  freight revenue while depreciation increased from 3.6% to 3.9% of  freight
revenue.

Operating  income  declined  from $5,477,000 to  $3,583,000  between  the  two
quarters.   Due  primarily to the previously discussed  decline  in  per-truck
utilization, weakened freight rates and to an increase in insurance costs.

Interest  and  other expense rose from $382,000 to $642,000  between  the  two
quarters.  Due to substantially lower borrowings under the company's  line  of
credit,  interest  expense associated with bank debt  was  significantly  less
during  the 1995 quarter.  This reduction was more than offset by net expenses
associated with the implementation during the 1994 third quarter of a company-
owned life insurance (COLI) program.

<PAGE 10>

The provision for income tax was 28.7% of pre-tax income for the third quarter
of  1995,  as compared to 32.6% for 1994.  This reduced effective  income  tax
rate  is  primarily attributable to increasing permanent tax savings resulting
from  the  COLI  program.   The  amount  of  the  tax  reduction  exceeds  the
aforementioned net COLI expenses included in interest and other expenses.

First Three Quarters 1995 vs. 1994

For  the nine months ended September 30, 1995, revenue increased by 6.6% while
income  from operations fell by 12.3%.  Of the $13,454,000 increase  in  total
revenue,  revenue  generated  by  the company-operated,  full-truckload  fleet
increased  by  $7,689,000,  and full-truckload  revenue  generated  by  owner-
operator  provided  equipment  rose  by $3,631,000,  or  13.2%.   LTL  revenue
decreased by $239,000 and non-freight revenue increased by $2,371,000.

Insurance  and  claims expense, as a percentage of freight revenue,  was  5.7%
during  the first three quarters of 1995 as compared to 5.2% during the  first
three  quarters  of  1994.  Partially because the company carries  significant
deductibles  under  its  policies of liability  insurance,  premiums  paid  to
insurance  companies  do  not significantly contribute  to  overall  insurance
costs.  Claims against the company for over-the-road accidents are the primary
component of insurance and claims expense and these expenses tend to  vary  in
relation  to  miles  traveled.   During  1995,  the  increased  magnitude   of
potentially adverse claims has also impacted the company's operating results.

The  provision  for  income tax decreased from 32.9%  of  1994's  first  three
quarters' pre-tax income to 30.1% for 1995 (see above discussion of the  third
quarter  effective tax rate). First three quarters' 1995 net  income  fell  by
14.2% to $7,697,000.  Due primarily to the previously discussed decline in per-
truck  utilization and weakened freight rates and to an increase in  insurance
costs.

LIQUIDITY AND CAPITAL RESOURCES

The  company  continues to maintain a strong financial structure with  a  good
working capital position and strong capital resources.  At September 30, 1995,
working capital was $29.5 million as compared to $25.6 million at December 31,
1994.

During  the  three quarters of 1995, net cash provided by operating activities
was  $12,548,000,  as  compared to cash provided by  operating  activities  of
$9,508,000 in the same period of 1994.  The increased generation of  cash  was
related primarily to improved collections of accounts receivable and decreased
federal income tax payments.

As  of  September  30,  1995, the unused portion of the company's  $50,000,000
revolving   credit   facility   totaled   approximately   $37,000,000.    This
availability was approximately $32,000,000 at December 31, 1994.
<PAGE 11>

                          PART II - OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K

      (a) Exhibits

          27.1 Financial Data Schedule

      (b) No reports on Form 8-K were filed during the quarter ended 
          September 30, 1995.
                                       
<PAGE 12>

                                  SIGNATURES

Pursuant  to the requirements of the Securities and Exchange Act of l934,  the
registrant  has  duly caused this report to be signed on  its  behalf  by  the
undersigned, hereunto duly authorized.

                              FROZEN FOOD EXPRESS INDUSTRIES, INC.
                              ------------------------------------
                              (Registrant)



November 13, 1995              By:  /s/Stoney M. Stubbs, Jr.
                                    ------------------------
                                    Stoney M. Stubbs, Jr.
                                    Chairman of the Board



November 13, 1995              By:  /s/Burl G. Cott
                                    ------------------------
                                    Burl G. Cott
                                    Senior Vice President
                                    Principal Financial and Accounting Officer
Officer
<PAGE 13>