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

Earnings data Q1 2021

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Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

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) (the “Company”, “we”, “our”, or “us”) today reported financial results for the three and twelve months ended December 31, 2021 as presented in the tables below on a continuing operations basis (Pool Distribution was previously reported as a discontinued operation). Tom Schmitt, Chairman, President and CEO, commenting on fourth quarter results from continuing operations, said, “Our fourth quarter reported revenue, net inc

Forward Air Corporation Reports Fourth Quarter 2021 Results

GREENEVILLE, Tenn.--(BUSINESS WIRE)-- #FinalMIle--Forward Air is Selected as The Home Depot Appliance Carrier of the Year.

Forward Air Selected as The Home Depot Appliance Carrier of the Year

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.

Forward Air (FWRD) Reports Next Week: Wall Street Expects Earnings Growth

Forward Air (FWRD) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Why the Earnings Surprise Streak Could Continue for Forward Air (FWRD)

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”), will participate in the Stifel 2022 Transportation and Logistics Conference on Tuesday, February 8, 2022 and Wednesday, February 9, 2022. In connection with its participation in the conference, the Company today provided the following key Expedited Freight Operating Statistics for the quarter ended December 31, 2021. Revenue per shipment increased 59.6%, revenue per hund

Forward Air to Participate in Upcoming Stifel Conference and Provides Update on Fourth Quarter 2021 Performance

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) will release its fourth quarter 2021 earnings after the market closes on Wednesday, February 9, 2022 and hold a conference call to discuss those results on the following day, Thursday, February 10, 2022 at 9:00 a.m. EST. 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: 3231672. Since we u

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

Forward Air (FWRD) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.

Here's Why Forward Air (FWRD) Could be Great Choice for a Bottom Fisher

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Wolfe Research analyst Scott Group downgraded the trucking sector to Underweight from Market Weight and adjusted the ratings for several related stocks. Group says while supply chains remain under "significant stress with few signs of improvement," inventory levels are finally starting to improve.

Wolfe Research Downgrades Trucking Sector To Underweight; Adjusts Ratings For Related Stocks

Stephens analyst Jack Atkins upgraded Forward Air Corp (NASDAQ:FWRD) to Overweight from Equal Weight and raised the price target to $165 from $115.  Forward Air, which historically focused on the niche deferred air freight sector, expanded its addressable market to focus more on premium less-than-truckload, or LTL, freight for 2021 and culled non-palletized freight from its network, which served to increase its available capacity by about 20%, mentions Atkins.

Stephens Bumps Up Forward Air Price Target By 43%

Does Forward Air (FWRD) have what it takes to be a top stock pick for momentum investors? Let's find out.

Are You Looking for a Top Momentum Pick? Why Forward Air (FWRD) is a Great Choice

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Strong volumes, owing to improved freight market conditions, and robust pricing position trucking companies well heading into 2022.

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Forward Air announced Thursday its biggest pay hike for independent contractors hauling freight in the company's less-than-truckload and truckload units. Per-mile pay was raised 15 cents for independent contractor fleet partners.

Forward Air announces its largest pay increase for independent contractors

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 less-than-truckload (“LTL”) and Truckload divisions. Today's announcement

Forward Air Announces Largest Ever Rate Increase for Independent Contractor Drivers

Forward Air announced Thursday that revenue per shipment accelerated further in November. The metric surged 61% year-over-year during the month in its expedited unit, which includes less-than-truckload, truckload and final-mile services.

Forward Air's freight swap pushing shipment yields up

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 month of November 2021. Revenue per shipment increased 60.5%, revenue per hundredweight increased 14.4%, weight per shipment increased 37.0% and pounds per day increased 5.5% over the same period last year. Tom Schmitt, Chairman, President, and Chief Executive Officer of Forward, commented, “

Forward Air Provides Mid-Quarter Update on Fourth Quarter 2021 Performance

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A couple of less-than-truckload carriers reported Thursday a hot start to the fourth quarter has continued through November. In a filing with the Securities and Exchange Commission, ArcBest (NASDAQ: ARCB) announced its asset-based unit, which includes LTL operations, saw revenue per day increase 24% year-over-year in November.

Q3's strength carries into Q4, LTL carriers report

Forward Air Corp (NASDAQ: FWRD) notifies its customers of a general rate increase of 7.9% applicable to rates established under the existing tariffs effective February 1, 2022. The company noted selected accessorial charges and minimum charges will also be impacted.

Forward Air To Raise Rate By 7.9% From February 2022

Forward Air Corp. FWRD, -3.49% said Wednesday it was informing its customers of a 7.9% general rate increase (GRI), effective Feb. 1. The trucking and logistics company said the GRI is applicable to rates established under the existing tariffs.

Forward Air to raise prices by nearly 8% to offset rising costs

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) announced today that it is notifying customers of a general rate increase (“GRI”) of 7.9 percent applicable to rates established under the existing tariffs effective February 1, 2022. Selected accessorial charges and minimum charges will also be impacted. Additional information can be found at www.forwardair.com. The GRI is intended to offset rising costs associated with the challenging oper

Forward Air Announces 2022 General Rate Increase

GREENVILLE, Tenn.--(BUSINESS WIRE)--In honor of Veterans Day, Forward Air Corporation (NASDAQ: FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”) is pleased to announce a $10K donation to Hope For The Warriors on behalf of the company's nonprofit charitable arm, Operation Forward Freedom (OFF), that supports veteran-related organizations. The donation comes from the percentage of sales from the company store, forwardcompanystore.com, and a match from Forward. The donated funds will be used

In Honor of Veterans Day, Forward Air Donates $10K to Hope For The Warriors

Good things could be on the horizon when a stock experiences a golden cross event. How should investors react?

Forward Air (FWRD) Just Flashed Golden Cross Signal: Do You Buy?

Forward Air Corp (NASDAQ: FWRD) provided a mid-quarter update on key Expedited Freight Operating Statistics for October 2021. Pounds per day increased 16% Y/Y, weight per shipment increased 33%, revenue per hundredweight increased 11%, and revenue per shipment increased 52%.

Forward Air Provides Positive Mid-Quarter Update

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”), is providing a mid-quarter update on key Expedited Freight Operating Statistics for the month of October 2021. Year-over-year pounds per day increased 16%, weight per shipment increased 33%, revenue per hundredweight increased 11%, and revenue per shipment increased 52%. “October results look terrific and showcase the ongoing momentum that resulted from continued strong

Forward Air Publishes Positive Mid-Quarter Update for its Fourth Fiscal Quarter 2021

Forward Air Corp (NASDAQ: FWRD) has entered into two separate agreements to acquire the assets of BarOle Trucking, Inc. and the trucking-related assets of TKI Intermodal, LLC. Financial terms were not disclosed.

Forward Air Acquires BarOle Trucking, TKI Intermodal For Undisclosed Sum

GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ: FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”) 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. Our primary focus is to pursue accretive acquisitions that complement or expand the Expedited LTL division, while continuing to grow our intermodal segment with str

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