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.

Earnings data Q4 2020

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Earnings data Q3 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.

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GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward” or the “Company”) will release its third quarter 2024 earnings after the market closes on Monday, November 4, 2024, and hold a conference call to discuss those results at 4:30 p.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 (800) 225-9448, Access Code: FWRDQ324. A conference call replay will be av.

Forward Air Corporation Announces Timing of Third Quarter 2024 Earnings Release and Conference Call

Forward Air (FWRD) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Strength Seen in Forward Air (FWRD): Can Its 6.2% Jump Turn into More Strength?

A voice within the company is pushing for a change in ownership.

Why Forward Air Stock Soared Today

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company”) today issued the following statement: The Forward Air Board of Directors and management acknowledge and value the perspectives of the Company's shareholders. The Company has recently undergone a significant transformation, including substantially refreshing its Board and management team, and is focused on continuing to provide industry leading service and executing its strategic plan with a renewed sense.

Forward Air Corporation Issues Statement

DALLAS--(BUSINESS WIRE)--Alta Fox Capital Management, LLC (together with its affiliates, “Alta Fox” or “we”) today issued the following letter to the Board of Directors (the “Board”) of Forward Air Corporation (NASDAQ: FWRD) (“Forward Air” or the “Company”): October 7, 2024 Forward Air Corporation 1915 Snapps Ferry Road, Building N Greeneville, Tennessee 37745 Attn: The Board of Directors Members of the Board: Alta Fox owns over 3% of the outstanding common shares of Forward Air. Do not confuse.

Alta Fox Calls for Immediate Strategic Review at Forward Air Corporation

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”) today announced that Jerome Lorrain has been appointed to Forward's Board of Directors (the “Board”) effective October 1, 2024. Mr. Lorrain has over 30 years of experience serving in a variety of roles in the logistics and transportation industry. He previously served as Chief Operating Officer of CEVA Logistics, a global end-to-end logistics company, and currently serves.

Forward Air Corporation Appoints New Director

Ancora joined a chorus of activist investors who are pushing Forward Air for a strategic review.

Activist Ancora joins investors' calls for a strategic review at Forward Air. Here's what may happen next

CLEVELAND--(BUSINESS WIRE)--Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”) today issued the below open letter to the Board of Directors (the “Board”) of Forward Air Corporation (NASDAQ: FWRD) (“Forward Air” or the “Company”). *** August 20, 2024 Forward Air Corporation 1915 Snapps Ferry Road, Building N Greeneville, Tennessee 37745 Attn: The Board of Directors Members of the Board, Ancora is a top 10 shareholder of Forward Air, with an approximately 4% stake in.

Ancora Issues Letter to Forward Air Corporation's Board of Directors Regarding the Need to Initiate a Strategic Review Based on Acquirer Interest

Forward Air Corporation (NASDAQ:FWRD ) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants Tony Carreño - Senior Vice President of Treasury and Investor Relations Shawn Stewart - Chief Executive Officer Jamie Pierson - Chief Financial Officer Conference Call Participants Bruce Chan - Stifel Bascome Majors - Susquehanna Scott Group - Wolfe Research Christopher Kuhn - Benchmark Stephanie Moore - Jefferies Operator Ladies and gentlemen thank you for standing by and welcome to the Forward Air Second Quarter 2024 Earnings Conference Call. At this time, all participants have been placed on a listen-only mode and the floor will be open for your questions following the presentation.

Forward Air Corporation (FWRD) Q2 2024 Earnings Call Transcript

Forward reported a massive loss in the quarter, including one-time charges, but underlying business trends improved. The company is under new management and slowly making progress after an unpopular acquisition and disappointing results.

Why Forward Air Stock Is Up Big Today

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “we”, “our”, or “us”) today reported financial results for the three months ended June 30, 2024, as presented in the tables below on a continuing operations basis, with the Company's former Final Mile business being reported as discontinued operations. Shawn Stewart, Forward's recently appointed Chief Executive Officer, said, “As a result of the Omni transaction, the combined company now has a unique plat.

Forward Air Corporation Reports Second Quarter 2024 Results

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GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward” or the “Company”) will release its second quarter 2024 earnings after the market closes on Wednesday, August 7, 2024, and hold a conference call to discuss those results at 4:30 p.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 (800) 343-4136, Access Code: FWRDQ224. A conference call replay will be.

Forward Air Corporation Announces Timing of the Second Quarter 2024 Earnings Release and Conference Call

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GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward” or the “Company”) announced a trifecta of achievements highlighting the company's leadership, operational expertise, and commitment to exceptional customer service. These accolades underscore Forward's position as an industry leader and its commitment to delivering premier service and exceptional value to its customers. For the fourth consecutive year, Forward Air has been recognized by Inbound Logistics maga.

Forward Air Earns Recognition for Excellence in Logistics and Leadership

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward” or the “Company”) announced the appointment of Jamie G. Pierson as permanent Chief Financial Officer and James Faught as Chief Accounting Officer, effective July 3, 2024. Mr. Pierson was originally named interim Chief Financial Officer on May 20, 2024. Mr. Faught joins the Company from EVO Transportation where he served as CFO. Shawn Stewart, the CEO, emphasized the strategic significance of the new appointme.

Forward Air Charters Next Phase of Growth With Expansion of Financial Leadership Team

Forward shares are down big due to current market conditions and an unpopular acquisition. An activist is reportedly preparing to push the company to restructure or find a buyer.

Why Forward Air Stock Advanced in June

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GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”) today announced updates to certain previously released non-GAAP financial measures for the twelve months ended March 31, 2024, to include adjustments to the previously released non-GAAP financial measures. When Forward released first quarter 2024 earnings on May 8, 2024, the Company made available to investors a conference call presentation, page 19 of which set forth a c.

Forward Air Provides Update on First Quarter 2024 Non-GAAP Financial Measures

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Forward Air reported disappointing quarterly results, confirming investor fears about a questionable acquisition from earlier in the year. Both activists and new management are now racing to turn the company around.

Why Forward Air Stock Hit New Lows in May

The stock price of Forward Air (NASDAQ: FWRD), an asset-light freight and logistics company with operations in the United States and Canada, trades at $15 per share, about 90% below its peak level of $125 seen in January 2022. FWRD stock was trading at $92 in early June 2022, just before the Fed started increasing rates, and is now 84% below that level, compared to a substantial 40% gain for the S&P 500 during this period.

Will Forward Air Stock See A Recovery After 75% Fall This Year?

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.

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