Welcome to our dedicated page for Forward Air news (Ticker: FWRD), a resource for investors and traders seeking the latest updates and insights on Forward Air stock.
Forward Air Corporation (NASDAQ: FWRD) is a leading provider of time-definite surface transportation and related logistics services, specifically catering to the North American air freight and expedited LTL (less-than-truckload) market. The company offers scheduled surface transportation of cargo, providing a cost-effective and reliable alternative to air transportation. Forward Air specializes in transporting air freight that needs to be delivered at a specific time but is less time-sensitive than traditional integrated services.
Over the past decade, Forward Air has significantly expanded its service offerings to include an array of logistics solutions. These services comprise pick-up and delivery, intermodal drayage, pool distribution, and specialized temperature-controlled logistics. The company's network includes freight terminals located on or near airports in 92 U.S. and Canadian cities, featuring a central sorting facility in Columbus, Ohio, and 11 regional sort centers, which contribute to one of the most efficient linehaul networks in the industry.
Forward Air operates through two main segments: Expedited Freight and Intermodal. The Expedited Freight segment, which generates the majority of the company's revenue, operates a comprehensive national network to provide expedited regional, inter-regional, and national LTL services. It also offers customers local pick-up and delivery, final mile services, truckload, shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling services.
The company continues to expand its footprint and enhance its service portfolio, aiming to provide unparalleled logistics solutions across the United States, Canada, and Mexico. Recently, Forward Air announced an agreement with Omni Logistics to amend the terms of their existing merger agreement, which resolves the litigation between the parties. Upon closing, this merger is expected to position the combined entity as a premier global integrated provider of comprehensive LTL services, generating significant value for shareholders, customers, and employees.
Forward Air Corporation’s asset-light business model and extensive service offerings make it a pivotal player in the logistics and transportation industry, helping customers achieve efficient and reliable freight management.
Forward Air Corporation (NASDAQ: FWRD) has announced its acquisition of Chickasaw Container Services, Inc. (CCS), an intermodal drayage provider, to further its growth strategy. This acquisition will bolster Forward's intermodal operations, particularly in the Mobile, AL, and Memphis, TN, markets. The deal, which is set to close in November 2022, will be funded through cash on hand. Forward's President, Tom Schmitt, emphasizes the strategic importance of this acquisition in enhancing operational capacity and expanding market presence.
Forward Air Corporation (NASDAQ:FWRD) reported record financial results for Q3 2022, achieving all-time highs in revenue, net income, and income per diluted share. Revenue rose 22% year-over-year to $510 million, and net income per share reached $1.93, exceeding guidance. The company anticipates strong fourth-quarter results, projecting revenue growth of 7% to 11% and net income per diluted share between $1.98 and $2.02. Cash provided by operating activities surged by nearly 95% to $84 million.
Forward Air Corporation (NASDAQ:FWRD) will announce its Q3 2022 earnings on October 26, 2022, after market close. A conference call will follow on October 27, 2022, at 9:00 a.m. EDT, accessible via the Investor Relations website or by dialing in directly. Forward Air provides asset-light transportation services across the US and Canada, specializing in expedited less-than-truckload services, warehousing, and customs brokerage. Investors are encouraged to monitor the Investor Relations section of the website for updates.
Forward Air Corporation (NASDAQ: FWRD) announced key operating statistics for the quarter-to-date through August 2022.
Revenue per shipment surged by 16.0%, while weight per shipment dropped 3.2%. Shipments per day increased by 6.5%, reflecting operational improvements.
CEO Tom Schmitt noted a strategic shift towards higher quality freight, with a remarkable 19.8% rise in revenue per hundredweight. Their ongoing pricing initiatives are designed to align with customer needs for better profitability.
Forward Air Corporation (NASDAQ: FWRD) is enhancing its growth strategy through organic infrastructure investments and acquisitions. The company announced the appointment of Nancee Ronning as Chief Commercial Officer, effective at the end of September. Ronning, a seasoned executive with experience at GE Capital and BNSF Logistics, will focus on commercial strategy and driving organic growth. Chairman Tom Schmitt expressed enthusiasm over her joining, emphasizing a commitment to accelerate profitable growth.
Forward Air Corporation (NASDAQ:FWRD) achieved record quarterly results, reporting a 23% increase in revenue to $515.2 million, surpassing guidance. Net income per diluted share reached $2.04, exceeding projections. The company's strategic focus on premium freight contributed to a 14.5% increase in weight per shipment and 39.8% rise in revenue per shipment. For Q3 2022, revenue growth is forecasted at 20%-24%, with net income per diluted share projected between $1.88 and $1.92. The company continues to return value to shareholders, with approximately $376 million returned through dividends and buybacks over five years.
Forward Air Corporation (NASDAQ:FWRD) will report its second quarter 2022 earnings on
Forward Air Corporation (NASDAQ: FWRD) has been recognized as the top Air/Expedited Carrier by Transport Topics for the fourth consecutive year. The annual rankings assess companies based on revenue across various transportation sectors. Additionally, Forward ranked 9th among intermodal/drayage providers and 27th overall on the Top 100 For-Hire Carriers list. The company is focused on a growth strategy that includes both organic infrastructure investments and acquisitions of complementary businesses, bolstering its position in the logistics market.
Forward Air Corporation (NASDAQ: FWRD) reported a strong performance for the quarter-to-date period through May 2022. The company saw a 40.7% increase in revenue per shipment and a 15.4% increase in weight per shipment compared to the previous year. Additionally, daily shipments increased by 0.4%. CEO Tom Schmitt emphasized the focus on higher-quality freight in their network, expressing confidence that net income per diluted share will exceed guidance of $1.59 to $1.63.
Forward Air Corporation (NASDAQ: FWRD) has announced its acquisition of Edgmon Trucking, LLC, an intermodal drayage provider, for approximately $22 million in annual revenue. This strategic purchase aims to enhance Forward's intermodal capabilities and represents the company's first West Coast operation. Funded through cash reserves, the acquisition is set to close in May 2022. CEO Tom Schmitt highlighted this move as vital for meeting customer demand and expanding the company's network across intermodal and LTL sectors.
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