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 (FWRD) operates at the forefront of time-sensitive freight solutions, connecting businesses across North America through its asset-light logistics network. This dedicated news hub provides investors and industry professionals with essential updates about the company’s operational milestones, strategic partnerships, and market positioning.
Access authoritative reporting on quarterly earnings, service expansions, and leadership developments alongside press releases directly from Forward Air. Our curated collection simplifies tracking critical updates across:
• Operational Updates: Terminal expansions and technology investments
• Financial Reporting: Earnings calls and SEC filings analysis
• Industry Positioning: Market share trends and competitive dynamics
• Regulatory Developments: Compliance updates impacting freight operations
Bookmark this page for streamlined access to verified information about Forward Air’s expedited LTL services, intermodal solutions, and logistics innovations. Check regularly for new developments shaping North American freight transportation.
Forward Air Corporation (NASDAQ: FWRD) announced today the acquisition of Land Air Express for $56.5 million. This acquisition enhances Forward's growth strategy by expanding its LTL network, particularly in the central U.S. Land Air Express operates across 25 terminals and employs approximately 270 individuals. The deal is expected to close in January 2023, funded by cash reserves and credit facilities. Chairman Tom Schmitt emphasized the strategic importance of this acquisition in improving service capacity and customer satisfaction.
Forward Air Corporation (NASDAQ: FWRD) reported key statistics for the quarter ending November 2022. Shipments per day rose by 2.4%, and revenue per hundredweight increased by 14.7%. However, there was a notable decline in pounds per day by 11.9% and a 14.0% decrease in weight per shipment compared to the previous year. The company announced a General Rate Increase of 5.9% effective February 6, 2023, to support ongoing investments aimed at enhancing service quality and efficiency. Despite a temporary softening in the freight environment, Forward remains optimistic about achieving record performance in 2023.
Forward Air Corporation (NASDAQ: FWRD) announced a 5.9% general rate increase effective from February 6, 2023, for shipments. This decision comes in response to rising operating costs in the freight transportation sector, which have surged significantly in 2022 due to inflation, real estate, and equipment expenses. The company aims to enhance service delivery and maintain its commitment to providing premium expedited services.
Forward Air Corporation (NASDAQ: FWRD) announced its updated Environmental, Social, and Governance (ESG) report, reflecting its commitment to sustainable operations. The report sets ambitious targets, including a 42% reduction in Scope 1 and Scope 2 greenhouse gas emissions by 2030. This follows the company's first ESG report published in March 2021, aimed at enhancing governance and accountability. The new ESG report includes measurable goals in line with SASB and GRI guidance, emphasizing Forward's dedication to its people, community impact, and environmental responsibility through its new ESG website.
Forward Air Corporation (NASDAQ: FWRD) is advancing its growth strategy through organic infrastructure investments and acquisitions. On November 15, 2022, at 1:00 p.m. CST, CEO Tom Schmitt and CFO Rebecca Garbrick will present a fireside chat at the Stephens 24th Annual Investment Conference in Nashville, Tennessee. A live webcast will be available here. The replay will be accessible on the company's website for 90 days.
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.
