Forward Air

Forward Air Corp. engages in the provision of less-than-truckload (LTL), truckload, intermodal and pool distribution services. It operates through the following segments: Expedited LTL and Intermodal. The Expedited LTL segment provides expedited regional, inter-regional and national LTL, final mile and truckload services. The Intermodal segment provides first and last-mile high value intermodal container drayage services to and from seaports and railheads. The company was founded by Scott M. Niswonger on October 23, 1981 and is headquartered in Greeneville, TN.

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Forward Air (FWRD) reports record year with focus on high-value freight and strategic growth initiatives

Forward Air (FWRD) navigated challenges in Q4 with a focus on high-value freight and cost management. Optimistic outlook for 2023 with growth initiatives targeting EPS ahead of 2022. Mitigation strategies in place for challenges like fuel headwinds and GRI adjustments.

Forward Air revises 2023 expectations, sees growth opportunities ahead

Forward Air revised its 2023 performance expectations lower due to Q1 challenges but remains focused on strategic initiatives for growth.
Despite revenue and cost management challenges, the company is seeing positive outcomes from its Go Forward strategy and operational improvements.
With a conservative outlook for Q2 and confidence in navigating the freight recession, Forward Air is poised for future growth opportunities.

Forward Air shows resilience in tough freight market, eyes growth

Forward Air navigated challenges in the freight market with improved tonnage trends and a strategic focus on high-value freight and service excellence.
The company's emphasis on margin expansion, industry-leading service levels, and proactive volume guidance positions it well for growth opportunities amidst market uncertainties.
Despite ongoing challenges and the need for cautious guidance, Forward Air remains resilient and adaptive, leveraging its strengths to drive profitability and customer satisfaction.
Opportunities in industrial sectors, margin expansion efforts, and strategic growth initiatives offer Forward Air avenues for growth and market expansion in the upcoming quarters.

Forward Air reports Q3 turnaround in LTL performance and strategic growth plans

Forward Air's Q3 performance showed improvement in LTL operations and a commitment to organic growth strategies. Despite challenges with the Omni acquisition and legal issues, the company is focused on stability and clarity for stakeholders. Opportunities exist in strategically growing the LTL business and deploying capital for growth initiatives.

Forward Air reports Q4 earnings decline, focuses on deleveraging

Forward Air's Q4 performance reflected challenges from one-off costs related to the Omni acquisition but showcased positive operational trends in its core business segments.
The company's focus on deleveraging and cost synergies post-merger highlights a commitment to financial stability and operational efficiency.
While facing challenges in 2023, Forward Air remains optimistic about opportunities for revenue growth, cost savings, and customer retention post-acquisition.

Forward Air reports Q1 revenue growth amidst EBITDA decline

Forward Air faced challenges in Q1 due to weak freight environment and distractions but expressed optimism for future performance.
Revenue growth in the less-than-truckload business was a highlight, with progress in Omni integration and cost synergies.
Management's confidence in meeting financial covenants, generating positive cash flow, and controlling costs is notable.
Actions taken to improve liquidity, deleverage, and achieve positive cash flow in the second half of the year show a proactive approach.

Forward Air reports robust Q2 revenue growth and transformation goals

Forward Air's Q2 2024 performance reflects strong revenue growth and improved EBITDA, driven by the Omni acquisition.
While facing challenges such as impairment charges and cash flow usage, the company is focused on operational enhancements and cost reductions.
Opportunities lie in the company's transformation goals, with a clear path to achieving breakeven to positive cash flow and continued financial improvement.

Forward Air reports robust Q3 results, eyes growth through Omni integration

Forward Air's Q3 2024 performance was strong, with revenue growth and improved liquidity, supported by ongoing transformation efforts and strategic initiatives.
While facing challenges in asset sales, revenue trends, and working capital management, the company is well-positioned to navigate these hurdles.
By capitalizing on the integration of Omni, enhancing the sales strategy, and addressing customer trends, Forward Air can unlock growth opportunities and drive future success.

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GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is executing a growth strategy that involves organic infrastructure investments, such as its ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. Today, Forward announced that it will now offer expedited less-than-truckload (LTL) along with pickup and delivery (PUD) services in Wichita, KS. Forward LTL will cross-utilize space a

Forward Air Corporation Announces New LTL Service in Wichita, KS

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13 Stocks Activist Investors Are Buying

Forward Air Corporation (NASDAQ:FWRD) shares are trading higher by 5.4% at $93.03 after Raymond James upgraded the stock from Outperform to Strong Buy and raised its price target from $100 to $120. Forward Air is an asset-light freight and logistics company.

Why Forward Air's Stock Is Moving

Forward Air Corporation (FWRD) CEO Thomas Schmitt on Q1 2021 Results - Earnings Call Transcript

On a call with analysts Friday, management from Forward Air (NASDAQ: FWRD) laid out some margin targets after posting a first-quarter earnings beat and issuing guidance well ahead of expectations. Thursday after the close, the Greeneville, Tennessee-based asset-light trucking and logistics company reported net income from continuing operations of 60 cents per share, which was 3 cents ahead of consensus and 19 cents better year-over-year.

Forward Air sees more ‘double-doubles' as company returns to form

Forward Air (FWRD) delivered earnings and revenue surprises of 7.14% and 6.10%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Forward Air (FWRD) Q1 Earnings and Revenues Beat Estimates

Forward Air (NASDAQ: FWRD) reported net income from continuing operations of 60 cents per share Thursday after the market close, 3 cents ahead of the consensus estimate and 19 cents better than the first quarter of 2020. Continuing operations exclude the high-frequency pool distribution segment, which was sold in February.

Forward Air issues strong second-quarter outlook

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company,” “we,” “our,” or “us”) today reported financial results for the three months ended March 31, 2021 as presented in the tables below on a continuing operations basis (Pool Distribution is being reported as a discontinued operation). Tom Schmitt, Chairman, President and CEO, commenting on first quarter results from continuing operations said, “Our growth strategies drove our record first quarter revenue, whic

Forward Air Corporation Reports First Quarter 2021 Results

Forward Air (NASDAQ: FWRD) announced Wednesday that it will acquire J&P Hall Express, a privately held, expedited transportation provider. The deal is expected to expand Forward's regional less-than-truckload door-to-door operation.

Forward Air bolsters LTL service with J&P Hall acquisition

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is executing a growth strategy that involves organic infrastructure investments, such as its ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. As part of the inorganic growth strategy, Forward today announced that it has entered into an agreement to acquire the assets of J&P Hall Express. J&P Hall Express is a private

Forward Air Acquires J&P Hall Express, Expanding Regional LTL Door-to-Door Service

Forward Air (NASDAQ:FWRD) releases its next round of earnings this Thursday, April 29. Get the latest predictions in Benzinga's essential guide to the company's Q1 earnings report.

Forward Air's Earnings: A Preview

Forward Air (NASDAQ: FWRD) announced that it added 11 final-mile terminal locations during the first quarter of 2021. The Monday press release said of the new “Forward Final Mile” additions, eight were established in existing less-than-truckload facilities.

Forward Air advances final-mile strategy, adds 11 locations

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is executing a growth strategy that involves organic infrastructure investments, such as its ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. Today, Forward announced that 11 new Final Mile terminal locations were added in the first quarter of 2021, with 8 of the new locations leveraging existing LTL terminal infrastructure.

Forward Air Corporation Expands Final Mile Footprint in First Quarter

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) will release its first quarter 2021 earnings after the market closes on Thursday, April 29, 2021 and hold a conference call to discuss those results on the following day, Friday, April 30, 2021 at 9:00 a.m. EDT. The Company's conference call will be available online on the Investor Relations portion of the Company's website at www.forwardaircorp.com, or by dialing (844) 867-6169, Access Code: 6464581. Because we use our

Forward Air Corporation Announces Timing of First Quarter 2021 Earnings Release and Conference Call

Asset-light trucking and logistics provider Forward Air (NASDAQ: FWRD) announced Friday the largest per-mile rate increase in company history for the independent contractor fleet in its less-than-truckload and truckload divisions. The company implemented an 11-cent-per-mile increase for team owner-operators and a 5-cent increase for individual owner-operators.

Forward Air announces its largest rate increase for capacity providers

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is executing a growth strategy that involves organic infrastructure investments, such as its ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. Forward today announced the largest ever rate-per-mile increase to its independent contractor fleet within its LTL and Truckload divisions. Today's announcement of an eleven cent per m

Forward Air Announces Largest Ever Rate Increase for Leased Capacity Providers

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is executing a growth strategy that involves organic infrastructure investments, such as its ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. Forward today announced the release of its first Environmental, Social and Governance (ESG) report, which provides an overview of the Company's ESG commitments. The report marks Forwar

Forward Air Releases First Environmental, Social and Governance Report

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is executing a growth strategy that involves organic infrastructure investments, such as its ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. Today, Forward was named Surface Carrier of the Year by the Airforwarders Association (AfA). The award was presented to Forward during the annual AfA General Membership Meeting for exc

Forward Air Named Surface Carrier of the Year by Airforwarders Association

An activist investor group led by Ancora Advisors has effected change to five seats on asset-light trucking and logistics company Forward Air's (NASDAQ: FWRD) board. Forward announced Monday after the market close that it has “appointed five independent and highly qualified directors” in connection with an agreement with Ancora.

Activist investor alters 5 seats on Forward Air board

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward Air” or “the Company”) today announced that it has appointed five independent and highly qualified directors to its Board of Directors (the “Board”) in connection with an agreement with Ancora Holdings, Inc. (together with its affiliates, “Ancora”), a significant shareholder which currently owns approximately 6.4% of the Company's outstanding shares. George Mayes, Chitra Nayak, Scott Niswonger, Javier Polit an

Forward Air Appoints Five Independent, Highly Qualified Directors to the Board

The activist investor group seeking changes at asset-light trucking and logistics company Forward Air (NASDAQ: FWRD) issued another letter to shareholders Tuesday. The group provided its summary on Forward's fourth-quarter earnings results as well as a rebuttal to Forward's take on the recent dialogue between the two parties.

Activists claim ‘substandard' results, ‘disingenuous' disclosure by Forward Air

CLEVELAND--(BUSINESS WIRE)--Ancora Holdings, Inc. (together with its affiliates, “Ancora” or “we”), a significant shareholder of Forward Air Corporation (“Forward Air” or the “Company”) (NASDAQ:FWRD), which together with the other participants in its solicitation beneficially owns approximately 6.3% of the Company's outstanding shares, today issued an open letter to shareholders commenting on the Company's disappointing fourth quarter 2020 earnings report and addressing certain misleading state

Ancora Comments on Forward Air's Disappointing Earnings Report and Sets Record Straight on Certain Misleading Company Disclosures

GREENEVILLE, Tenn.--(BUSINESS WIRE)--First paragraph, second sentence of release dated February 12, 2021 should read: Forward today announced the sale of its Pool Distribution business to Ten Oaks Group for an estimated total consideration of $20 million, consisting of $8 million upfront cash payment and up to a $12 million earnout based on 2021 EBITDA attainment. The updated release reads: FORWARD AIR ANNOUNCES SALE OF POOL DISTRIBUTION BUSINESS Forward Air Corporation (NASDAQ: FWRD) (the “Com

CORRECTING and REPLACING Forward Air Announces Sale of Pool Distribution Business

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is executing a growth strategy that involves organic infrastructure investments, such as its ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. Forward today announced the sale of its Pool Distribution business to Ten Oaks Group for an estimated total consideration of $20 million, consisting of $8 million upfront cash payment

Forward Air Announces Sale of Pool Distribution Business

Following scrutiny from an activist investor group, which includes the company's founder and former CFO, management at asset-light trucking and logistics company Forward Air (NASDAQ: FWRD) doubled down on its approach to the business during its fourth-quarter call with analysts Friday. The investor group led by Ancora Advisors issued an open letter to shareholders Wednesday, voicing discontent with the current direction of the company and announcing its decision to nominate four candidates for election to the board.

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