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) (“Forward,” “we,” “our,” or “us”) today announced the pricing of the previously announced private offering (the “Notes Offering”) of $725 million of 9.50% senior secured notes due 2031 by GN Bondco, LLC (the “Escrow Issuer”), a Delaware limited liability company and wholly owned subsidiary of Omni Newco, LLC (“Omni”), which was downsized by $200 million from the previously announced offering size of $925 million in conn.

Forward Air Corporation Announces Pricing of Private Offering of $725 Million of Senior Secured Notes

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward,” “we,” “our,” or “us”) today announced that GN Bondco, LLC (the “Escrow Issuer”), a Delaware limited liability company and wholly owned subsidiary of Omni Newco, LLC (“Omni”), has commenced a private offering of $925 million of senior secured notes due 2031 (the “Notes”), subject to market and customary conditions. Forward intends to use the net proceeds of the offering of the Notes, together with the net pro.

Forward Air Corporation Announces Private Offering of $925 Million of Senior Secured Notes

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Executives Bought Shares at Forward Air and Fox

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”) today provided the following key Expedited Freight Operating statistics for the quarter-to-date period through August 2023. Weight per shipment increased 7.8%, revenue per shipment excluding fuel increased 0.9% and pounds per day decreased 3.0% over the same period last year. While pounds per day for July decreased by 5.9%, it improved in August as pounds per day were rel.

Forward Air Provides Mid-Quarter Update on Third Quarter 2023 Performance

Forward Air's shareholders are enraged after the boss agreed to a merger that forces them to vote for their own dilution. Executives have snapped up $2.3 million in shares to show their faith in the deal.

How a Trucking Company Ran Over Its Own Stock

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”), a category leader in expedited LTL, announced today that Tom Schmitt, Chairman and Chief Executive Officer, and Rebecca Garbrick, Chief Financial Officer, will present at the Jefferies Industrials Conference on September 6, 2023, at 10:30 a.m. ET. Investors may listen to a live webcast of the presentation by accessing the webcast button in the Investor Relations section of the Company's web.

Forward Air to Present at the 2023 Jefferies Industrials Conference

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NEW YORK--(BUSINESS WIRE)--ClearBridge Investments urges Forward Air Corp. (NASDAQ: FWRD) to reconsider its intention to acquire Omni Logistics.

ClearBridge Investments Sends Letter Urging Board of Directors of Forward Air Corporation to Reconsider Announced Intention to Acquire Omni Logistics

Forward shares have been under pressure since the company announced a planned merger with private-equity-owned Omni Logistics. The company believes the deal will make it a shipping powerhouse, but analysts are worried about merger complexities.

Why Forward Air Stock Was Stuck in Reverse This Week

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward”) today published Q&A and a supplementary investor presentation to provide additional information about the previously announced transaction with Omni Logistics (“Omni”). All related materials are available at ir.forwardaircorp.com. “The transformational combination with Omni is the natural next step in our Grow Forward strategy to expand our customer base and will deliver significant long-term value for F.

Forward Air Reiterates Value Creation Potential of Acquisition of Omni Logistics

GREENEVILLE, Tenn., & DALLAS--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (“Forward”) and Omni Logistics, LLC (“Omni”), a private company that is majority owned by Ridgemont Equity Partners (“Ridgemont”) and EVE Partners, LLC (“EVE”), today announced that they have entered into a definitive agreement under which Forward and Omni will combine in a cash-and-stock transaction, creating a combined company that generated approximately $3.7 billion of combined company adjusted revenue for.

Forward Air to Combine with Omni Logistics, Creating the Category Leader in Expedited LTL Market

Forward Air Corporation (NASDAQ:FWRD ) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET Company Participants Thomas Schmitt - President, CEO & Chairman Rebecca Garbrick - CFO & Treasurer Conference Call Participants Jack Atkins - Stephens Inc. Scott Group - Wolfe Research Bascome Majors - Susquehanna Stephanie Moore - Jefferies Andrew Cox - Stifel Christopher Kuhn - the Benchmark Company Operator Thank you for joining Forward Air Corporation's Second Quarter 2023 Earnings Release Conference Call. Before we begin, I'd like to point out that both the press release and webcast presentation for this call are accessible on the Investor Relations section of Forward Air's website at www.forwardaircorp.com.

Forward Air Corporation (FWRD) Q2 2023 Earnings Call Transcript

Forward Air (FWRD) came out with quarterly earnings of $0.91 per share, missing the Zacks Consensus Estimate of $1.28 per share. This compares to earnings of $2.04 per share a year ago.

Forward Air (FWRD) Misses Q2 Earnings and Revenue Estimates

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “we”, “our”, or “us”) today reported financial results for the three and six months ended June 30, 2023 as presented in the tables below. Tom Schmitt, Chairman, President and CEO, commenting on second quarter results said, “Weaker-than-expected demand for our intermodal and truckload brokerage services resulted in our reported net income per diluted share of $0.76 and adjusted net income per diluted share.

Forward Air Corporation Reports Second Quarter 2023 Results

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2 Stocks Getting an Analyst Boost

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) will release its second quarter 2023 earnings after the market closes on Wednesday, August 2, 2023 and hold a conference call to discuss those results on the following day, Thursday, August 3, 2023 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: 6257043. Since we use our.

Forward Air Corporation Announces Timing of Second Quarter 2023 Earnings Release and Conference Call

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 was named top Air/Expedited Carrier by Transport Topics, for the fifth consecutive year. The annual rankings are comprised of top companies across mult.

Forward Named #1 Expedited Carrier by Transport Topics

Asset-light trucking company Forward Air announced Tuesday that tonnage was down 8% year over year (y/y) for the first two months of the second quarter. Forward (NASDAQ: FWRD) noted the severity of the y/y declines has eased as the second quarter has progressed.

Forward Air's tonnage declines slow as Q2 advances

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”) today provided the following key Expedited Freight Operating statistics for the quarter-to-date period through May 2023. Shipments per day decreased 12.0%, pounds per day decreased 7.9%, revenue per hundredweight excluding fuel decreased 6.3%, while weight per shipment increased 4.7% over the same period last year. Tom Schmitt, Chairman, President and Chief Executive Offi.

Forward Air Provides Mid-Quarter Update on Second Quarter 2023 Performance

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Asset-light transportation provider Forward Air reeled in its 2023 full-year outlook Tuesday but said the rate at which volumes have been declining has slowed in the last couple of weeks. Forward (NASDAQ: FWRD) reported first-quarter earnings per share of $1.37 Monday after the market closed, 7 cents better than Seeking Alpha's consensus estimate but 20 cents lower year over year (y/y).

Forward Air dials down 2023 outlook but sees ‘real improvements'

Forward Air Corporation (NASDAQ:FWRD ) Q1 2023 Earnings Conference Call May 2, 2023 9:00 AM ET Company Participants Thomas Schmitt - President, CEO & Chairman Rebecca Garbrick - CFO & Treasurer Conference Call Participants Jack Atkins - Stephens Inc. Unidentified Analyst - Unidentified Analyst - Wolfe Research Chris Kuhn - Benchmark Securities Operator Thank you for joining Forward Air Corporation's First Quarter 2023 Earnings Release Conference Call. Before we begin, I'd like to point out that both the press release and webcast presentation for this call are accessible on the Investor Relations section of Forward Air's website at www.forwardaircorp.com.

Forward Air Corp (FWRD) Q1 2023 Earnings Call Transcript

Forward Air (FWRD) came out with quarterly earnings of $1.37 per share, beating the Zacks Consensus Estimate of $1.31 per share. This compares to earnings of $1.57 per share a year ago.

Forward Air (FWRD) Surpasses Q1 Earnings Estimates

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, 2023 as presented in the tables below. Tom Schmitt, Chairman, President and CEO, commenting on first quarter results said, “Our reported net income per diluted share of $1.37 exceeded the high end of our $1.30 to $1.34 guidance range. Having said that, we would not have made guidance if not for a one-time benefit o.

Forward Air Corporation Reports First Quarter 2023 Results

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) will release its first quarter 2023 earnings after the market closes on Monday, May 1, 2023 and hold a conference call to discuss those results on the following day, Tuesday, May 2, 2023 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) 336-4436, Access Code: 2402511.

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