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) reported record first-quarter financial results, driven by a strong economy and demand for services. Operating revenue increased by 29% to $466.96 million, with net income rising 155.4% to $42.69 million, equating to $1.57 per diluted share. The company exceeded its guidance for revenue growth and net income. Looking ahead, Forward Air anticipates continued strength, with second-quarter revenue growth projected at 18% to 22%. Additionally, a quarterly cash dividend of $0.24 per share was declared, anticipated to total $0.96 for the year.
Forward Air Corporation (NASDAQ: FWRD) announced the grand opening of its expanded Support Center in Columbus, Ohio. This facility consolidates operations from five buildings, enhancing service delivery for employees, customers, and independent contractor drivers. The expansion includes improved amenities like expanded parking and storage, and aims to strengthen collaborative efforts within the company. It also supports the company's fleet growth targets through better onboarding for drivers. The initiative signifies a commitment to economic growth in the Columbus community.
Forward Air Corporation (NASDAQ:FWRD) will report its first quarter 2022 earnings on April 27, 2022, after market close. A conference call to discuss the results is scheduled for April 28, 2022, at 9:00 a.m. EDT, accessible via the company's Investor Relations website. The company specializes in asset-light freight and logistics services across the U.S. and Canada, offering expedited LTL services, truckload brokerage, and intermodal solutions among others. Investors are encouraged to monitor the Investor Relations section for updates.
Forward Air has been recognized as one of America's Most Trusted Companies for 2022, achieving the 3rd position in the Transport, Logistics & Packaging category by Newsweek and Statista. This honor highlights the company's commitment to customer and employee satisfaction. The recognition follows a survey of 50,000 U.S. residents and financial assessments of companies with annual revenues exceeding $500 million. Alongside this accolade, Forward was also named Surface Carrier of the Year by the AFA and The Home Depot Appliance Carrier of the Year.
Forward Air Corporation (NASDAQ: FWRD) released key operating statistics for the quarter-to-date period through February 2022. Significant metrics include a 52.5% rise in revenue per shipment, a 16.1% increase in revenue per hundredweight, a 28.7% boost in weight per shipment, and a 10.7% advancement in pounds per day compared to the previous year. CEO Tom Schmitt attributed this growth to strong demand and collaboration with customers, expressing optimism for continued positive performance in the first quarter.
Forward Air Corporation (NASDAQ: FWRD) announces that Chief Commercial Officer Scott Schara has been named a 2022 Georgia Titan 100, recognizing his leadership and accomplishments in the logistics sector. Since joining in August 2020, Schara has played a crucial role in enhancing the company's growth strategy and expanding its less-than-truckload (LTL) network. His recognition highlights Forward Air's commitment to customer engagement and market share expansion. Schara will receive the award at a ceremony on May 12, 2022.
Forward Air Corporation (NASDAQ:FWRD) announced record quarterly results for Q4 2021, with operating revenue of $459.9 million, a 31.3% increase year-over-year. Net income from continuing operations reached $38.2 million, translating to a net income per diluted share of $1.40, surpassing previous guidance. The company anticipates 18% to 22% year-over-year revenue growth for Q1 2022 with a projected net income per diluted share of $1.15 to $1.19. Additionally, a 14% dividend increase was approved, raising the quarterly payment to $0.24 per share.
Forward Air Corporation (NASDAQ: FWRD) has been awarded The Home Depot Appliance Carrier of the Year for 2021, recognizing its exceptional performance in the appliance delivery segment. Criteria for this award include delivery volumes, on-time performance, and service levels. Since starting its partnership in 2017, Forward has expanded its relationship with The Home Depot, enhancing their supply chain capabilities. CEO Tom Schmitt highlighted the company's dedication to precision execution and the efforts of its team in achieving this recognition.
Forward Air Corporation (NASDAQ: FWRD) will attend the Stifel 2022 Transportation and Logistics Conference on February 8-9, 2022. The company reported strong operating statistics for the quarter ending December 31, 2021, including a 59.6% increase in revenue per shipment and a 13.4% rise in revenue per hundredweight compared to 2020. CEO Tom Schmitt highlighted the positive momentum driven by collaboration with customers and demand for premium services, indicating a strong Q4 performance relative to Q3.
Forward Air Corporation (NASDAQ:FWRD) is set to release its fourth quarter 2021 earnings on February 9, 2022, after market close. The earnings call will be held on February 10, 2022, at 9:00 a.m. EST, and will be accessible online through the company's Investor Relations website. Forward Air is a leader in asset-light freight and logistics services across the U.S. and Canada. The company provides expedited less-than-truckload (LTL) services, final mile services, and truckload brokerage among other logistics offerings.
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