Forward Air Provides Mid-Quarter Update on Third Quarter 2023 Performance
- Weight per shipment increased 7.8%
- Revenue per shipment excluding fuel increased 0.9%
- Positive momentum in volumes in August and September
- Pounds per day decreased 3.0% YoY
Tom Schmitt, Chairman, President and Chief Executive Officer of Forward Air commented: "In the month of August, we started seeing positive momentum in volumes. In the first few days of September, we are seeing a continuation of the increase in volumes.”
Mr. Schmitt further stated: “We believe our Grow Forward initiative, a focus on high value freight, is continuing to gain traction. Our freight quality continues to improve as reflected in the
The Company’s expectations regarding the Company’s performance in the third quarter and in any future period are based on information available at the time of this release, and are subject to changing conditions, many of which are outside of the Company’s control.
About Forward Air Corporation
Forward Air is a leading asset-light provider of transportation services across
This press release may contain statements that might be considered as forward-looking statements or predictions of future operations including with respect to the Company’s expectations regarding (i) its performance for the third quarter of 2023, (ii) volumes in 2023 and (iii) performance of the Company’s initiatives. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties including that the Company’s performance in 2023 is worse than anticipated. Actual events may also differ from these expectations as a result of the risks identified from time to time in our filings with the Securities and Exchange Commission. We assume no duty to update these statements as of any future date.
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Forward Air Corporation
Brandon Hammer, 423-636-7173
bhammer@forwardair.com
Source: Forward Air Corporation