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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Earnings data Q4 2024

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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Forward Air (NASDAQ:FWRD) finds itself in the spotlight as activist investor Irenic Capital Management made a significant move, acquiring nearly 5% stake in the company, according to a report by the Wall Street Journal.

Activist Irenic Capital initiates a 5% stake in Forward Air: Should you buy the stock?

Irenic Capital Management has a position of nearly 5%, making it one of the trucking company's top shareholders.

Activist Irenic Builds Stake in Trucking Company Forward Air

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward” or the “Company”) today announced the appointment of Jamie G. Pierson as interim Chief Financial Officer effective May 20, 2024. Mr. Pierson succeeds Rebecca Garbrick, who is departing the Company. Ms. Garbrick will remain with the Company to assist with the transition. “On behalf of the Board of Directors, I want to thank Rebecca for her commitment and significant contributions over the last several years. S.

Forward Air Announces Leadership Transition

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “we”, “our”, or “us”) today announced the filing of its definitive proxy statement with the Securities and Exchange Commission (“SEC”) on May 20, 2024 in preparation for its upcoming annual shareholder meeting, which will be held on June 3, 2024 for shareholders as of the March 25, 2024 record date. Forward is dedicated to fostering a culture of continuous improvement, transparency and accountability as t.

Forward Air Files Definitive Proxy Statement and Reiterates Commitment to Board Refreshment

Forward Air Corporation (NASDAQ:FWRD ) Q1 2024 Results Conference Call May 9, 2024 10:00 AM ET Company Participants Michael Hance - Interim CEO, Chief Legal Officer & Secretary Rebecca Garbrick - CFO & Treasurer Shawn Stewart - Incoming CEO Conference Call Participants Andrew Cox - Stifel Bascome Majors - Susquehanna Stephanie Moore - Jefferies Christopher Kuhn - Benchmark Tyler Brown - Raymond James Operator At this time, all participants have been placed in a listen-only mode and the floor will be open for your questions following the presentation. [Operator Instructions] I would now like to turn the call over to Michael Hance, Chief Legal Officer.

Forward Air Corporation (FWRD) Q1 2024 Earnings Call Transcript

Forward lost more than expected in the first quarter, weighed down by a controversial acquisition. The company has new management and great potential, but could be stuck in neutral for a while.

Why Forward Air Stock Was Grounded Today

NEW YORK, NY / ACCESSWIRE / May 9, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Forward Air Corporation ("Forward Air") (NASDAQ:FWRD) concerning possible violations of federal securities laws. Forward Air disclosed its financial performance for the first quarter of 2024, following the market closure on May 8, 2024.

Shareholder Rights Advocates at Levi & Korsinsky Investigate Forward Air Corporation (FWRD) Regarding Possible Securities Fraud Violations

Forward Air Corporation (FWRD) Shareholders May Have Been Affected by Fraud- Levi & Korsinsky Investigates

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”) today reported financial results for the three months ended March 31, 2024 as presented in the tables below on a continuing operations basis (Final Mile is being reported as a discontinued operations). Recently appointed Chief Executive Officer Shawn Stewart, said, “It is a privilege to be leading Forward during this pivotal time. Together, Forward and Omni have created an.

Forward Air Corporation Reports First Quarter 2024 Results

Forward Air and Omni completed their merger, but the stock has since declined by 55%. The company experienced leadership changes and stopped issuing guidance, leading to a continued decline in stock price. FWRD stock is now trading to a multiple below 3.5x, compared to previous levels above the sector average of 4.8x.

Forward Air: A Show-Me Story That Could Unveil Upside Potential (Rating Upgrade)

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company”) announced that it granted equity awards on April 29, 2024 as a material inducement to employment of the newly-hired Chief Executive Officer, Shawn Stewart. As previously disclosed, the Company and Mr. Stewart entered into an employment agreement in connection with Mr. Stewart's appointment as Chief Executive Officer. Pursuant to the employment agreement, the following equity awards were approved for issua.

Forward Air Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Forward Air (FWRD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Forward Air (FWRD) to Report a Decline in Earnings: What to Look Out for

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GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward” or “the Company”) is pleased to announce that four leaders have been recognized for outstanding achievements in their respective spaces. Supply & Demand Chain Executive has recognized the following leaders with the 2024 Pros to Know award: Chris Ruble – President & Chief Operating Officer, received the Lifetime Achievement award. This award honors company leaders who've made outstanding contributions.

Forward Air Leaders Recognized for Outstanding Service

Goldman Sachs BDC (NYSE:GSBD) Q4 2023 Earnings Conference Call February 29, 2024 9:00 AM ET

Forward Air Corporation (FWRD) Q4 2023 Earnings Call Transcript

Although the revenue and EPS for Forward Air (FWRD) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Here's What Key Metrics Tell Us About Forward Air (FWRD) Q4 Earnings

Forward Air (FWRD) came out with quarterly earnings of $0.81 per share, missing the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $1.65 per share a year ago.

Forward Air (FWRD) Q4 Earnings and Revenues Miss Estimates

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “we”, “our”, or “us”) today reported financial results for the three and twelve months ended December 31, 2023 as presented in the tables below on a continuing operations basis (Final Mile is being reported as a discontinued operation). Michael Hance, Interim Chief Executive Officer said, “Execution of our revenue growth strategies in the fourth quarter led to positive volume trends and improved freight q.

Forward Air Corporation Reports Fourth Quarter and Full Year 2023 Results

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward” or “the Company”) today changed the date for the release of its fourth quarter 2023 earnings. Forward plans to release its fourth quarter 2023 earnings after the market closes on Wednesday, February 28 and hold a conference call to discuss those results on the following day, Thursday, February 29 at 9:00 a.m. ET. The conference call will be available online on the Investor Relations portion of the Company's w.

Forward Air Corporation Changes Timing of Fourth Quarter 2023 Earnings Release to February 28

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Forward Air Corp. has acquired Omni Logistics, leading to concerns about debt and loss of ownership control for shareholders. The company's growth has declined due to supply chain issues and reduced consumer spending. Forward Air is positioned well in the LTL industry and has potential for long-term growth if the merger is successful.

Forward Air And Its Real Value

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward” or “the Company”) today announced several updates to its senior management team and Board of Directors (“the Board”). Management Changes Tom Schmitt, Chairman, Chief Executive Officer and President of Forward, has departed the Company. Effective immediately, Michael Hance has been appointed Interim Chief Executive Officer in addition to his current position as Chief Legal Officer and Secretary. Since joining.

Forward Air Announces Leadership Changes

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward”) today provided the following LTL Expedited Freight operating statistics for January 2024. During this period, weight per shipment increased 9.8%, pounds per day also increased 9.2% compared to the same period last year. Finally, revenue per ton mile increased 1.9% over the same period last year, excluding fuel. Tom Schmitt, Chairman and Chief Executive Officer of Forward, commented: "We continue to improve o.

Forward Air Provides Update on January 2024 Performance

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) will release its fourth quarter 2023 earnings after the market closes on Wednesday, February 21, 2024 and hold a conference call to discuss those results on the following day, Thursday, February 22, 2024 at 9:00 a.m. ET. The Company's conference call will be available online on the Investor Relations portion of the Company's website at ir.forwardaircorp.com, or by dialing (877) 336-4440, Access Code: 5236215. Since we us.

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