Forward Air Raises $350,000 for Veterans at Annual Drive for Hope Golf Tournament

Rhea-AI Summary

Forward Air (NASDAQ: FWRD) hosted its third annual Drive for Hope Golf Tournament, raising $350,000 for Hope For The Warriors, a nonprofit supporting post-9/11 veterans and military families. The event took place November 11-12 at Chateau Elan Winery & Resort in Braselton, GA. Through its charitable platform, Operation Forward Freedom, the company has raised a total of $1.25 million since the tournament's inception in 2022. The event featured celebrity guests, a silent auction, and a color guard presentation.

Insights

Financial Analyst

The $350,000 charitable donation, while commendable, represents a minimal financial impact on Forward Air's operations and balance sheet. With a market cap of $932M, this charitable contribution accounts for less than 0.04% of the company's value. While the initiative demonstrates good corporate citizenship and potential positive impact on employee morale and community relations, particularly in the veteran community, it does not materially affect the company's financial position or investment outlook. The cumulative $1.25M raised over three years shows consistent commitment to corporate social responsibility but remains financially insignificant for investment decision-making purposes.

GREENEVILLE, Tenn.--(BUSINESS WIRE)-- Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) hosted the third annual Drive for Hope Golf Tournament November 11-12 at Chateau Elan Winery & Resort in Braselton, GA. Through its charitable platform, Operation Forward Freedom, the Company raised $350,000 to benefit Hope For The Warriors.

Forward Air Raised $350,000 for Hope For The Warriors at the Drive For Hope Golf Tournament (Photo: Business Wire)

Founded in 2006, Hope For The Warriors is a national nonprofit dedicated to restoring a foundation of stability, strength and community for post-9/11 veterans, service members and military families.

“We are honored to join forces with Hope For The Warriors to support their life-changing work within our nation’s Veteran community. Giving back is in our DNA, and when we work with our business partners toward a common goal, we can truly make a positive impact,” said Shawn Stewart, Chief Executive Officer of Forward Air.

The Drive for Hope Tournament featured celebrity guests, with a silent auction and color guard presentation at the opening ceremony. Since the inaugural Drive For Hope Golf Tournament in 2022, Forward has raised $1.25 million for Hope For The Warriors.

“You can really see and feel everyone’s passion for supporting service members, veterans and their families each year at the Drive For Hope Golf Tournament,” said Robin Kelleher, Hope For The Warriors co-founder and CEO. “We appreciate working with a company like Forward Air that seeks and employs so many transitioning service members. Under the new leadership of CEO Shawn Stewart, a Navy veteran, we at HOPE are honored to continue to work side by side with Forward Air in supporting and advocating for military families.”

About Forward Air Corporation

Forward Air is a leading asset-light provider of transportation services across the United States, Canada and Mexico. We provide expedited less-than-truckload services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals. In addition, we offer truckload brokerage services, including dedicated fleet services, and intermodal, first and last-mile, high-value drayage services, both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services. Forward also operates a full portfolio of multimodal solutions, both domestically and internationally, via Omni Logistics. Omni Logistics is a global provider of air, ocean and ground services for mission-critical freight. We are more than a transportation company. Forward is a single resource for your shipping needs. For more information, visit our website at www.forwardaircorp.com.

About Hope For The Warriors:

Founded in 2006, Hope For The Warriors is a national nonprofit dedicated to restoring a foundation of stability, strength and community for post-9/11 veterans, service members and military families. Since its inception, Hope For The Warriors has served over 171,000 service members, veterans, military spouses, and caregivers through 10 programs/services focused on providing financial, career and educational stability; physical and emotional strength; and social support that builds community. This includes The Steven A. Cohen Military Family Clinic at Hope For The Warriors providing confidential, high-quality mental health care services. For more information, visit hopeforthewarriors.org, Facebook, X, Instagram, YouTube or LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241122287807/en/

Justin Moss - Forward Air

JMoss@forwardair.com

404.362.8933

Source: Forward Air Corporation

FAQ

How much did Forward Air (FWRD) raise at the 2023 Drive for Hope Golf Tournament?

Forward Air raised $350,000 at the 2023 Drive for Hope Golf Tournament held on November 11-12 at Chateau Elan Winery & Resort in Braselton, GA.

What is the total amount Forward Air (FWRD) has raised through the Drive for Hope Tournament since 2022?

Forward Air has raised a total of $1.25 million for Hope For The Warriors since the inaugural Drive For Hope Golf Tournament in 2022.

Where was Forward Air's (FWRD) 2023 Drive for Hope Golf Tournament held?

The 2023 Drive for Hope Golf Tournament was held at Chateau Elan Winery & Resort in Braselton, GA.