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.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Forward Air's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Forward Air's position in the market.
Rhea-AI Summary
Forward Air (NASDAQ:FWRD) announced the granting of equity awards to the newly-hired CEO, Shawn Stewart, as a material inducement to his employment. The awards consist of restricted shares of common stock and performance share units, subject to vesting conditions. The grants were approved by the Board of Directors and the Compensation Committee of the Company.
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End-of-Day
-4.41%
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Rhea-AI Summary
Forward Air (NASDAQ: FWRD) has announced the appointment of Shawn Stewart as the new Chief Executive Officer and a Director of the Board, effective April 28, 2024. Stewart, with extensive experience in logistics and transportation, previously served in leadership roles at CEVA Logistics, where he drove significant business growth and operational improvements. The company also acknowledged Michael Hance, the Interim CEO, who will continue in the role of Chief Legal Officer and Secretary. The transition aims to position Forward for future success and strengthen its commitment to delivering exceptional service to customers.
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End-of-Day
1.91%
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Forward Air (FWRD) announces recognition of four leaders for outstanding achievements in the supply chain industry. Leaders received awards for contributions to supply chain, transportation, and marketing sectors, highlighting their commitment and vision.
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End-of-Day
6.21%
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Forward Air Corporation (NASDAQ:FWRD) reported positive volume trends in less-than-truckload services, despite softer freight conditions. Revenue declined by 16% due to decreased demand for intermodal and truckload brokerage services, partially offset by growth in less-than-truckload services. Adjusted net income per diluted share exceeded expectations. The acquisition of Omni Logistics aims to enhance the company's market position and customer base.
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Rhea-AI Sentiment
End-of-Day
-5.16%
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Forward Air Corporation (NASDAQ: FWRD) provides an update on the repayment of term B loans and changes the date for its fourth quarter 2023 earnings release. The company plans to release its earnings on February 28 and hold a conference call on February 29 to discuss the results.
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Rhea-AI Sentiment
End-of-Day
-4.29%
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Rhea-AI Summary
Forward Air Corporation (NASDAQ: FWRD) announced significant changes to its senior management team and Board of Directors, including the departure of the Chairman, CEO, and President, and the appointment of an interim CEO and new independent Chairman. The company also formed an Integration Committee to oversee the integration of Omni and a Search Committee to identify a permanent CEO replacement.
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Rhea-AI Sentiment
End-of-Day
1.84%
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Forward Air Corporation (NASDAQ: FWRD) provided LTL Expedited Freight operating statistics for January 2024, showing a 9.8% increase in weight per shipment, a 9.2% increase in pounds per day, and a 1.9% increase in revenue per ton mile, excluding fuel. The Chairman and CEO, Tom Schmitt, highlighted the company's focus on increasing tonnage, refining freight quality, and maximizing revenue per shipment, along with the successful execution of operational synergies. The company plans to update the market on a comprehensive plan and key milestones in the coming weeks.
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End-of-Day
-3.39%
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News
Rhea-AI Summary
Forward Air Corporation (NASDAQ:FWRD) will release its fourth quarter 2023 earnings after the market closes on Wednesday, February 21, 2024 and hold a conference call to discuss those results on the following day, Thursday, February 22, 2024 at 9:00 a.m. ET. The Company’s conference call will be available online on the Investor Relations portion of the Company’s website at ir.forwardaircorp.com, or by dialing (877) 336-4440, Access Code: 5236215. Since we use our Investor Relations website as a primary mechanism to communicate with our investors, investors are urged to monitor the Investor Relations portion of the Company’s website to easily find or navigate to current and pertinent information.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.28%
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Forward Air Corporation (NASDAQ: FWRD) has completed its acquisition of Omni Logistics, LLC, creating a category leader in the expedited LTL market. The combined company aims to deliver long-term value to shareholders through revenue and cost synergies, operational efficiencies, and a larger customer base. Forward will provide more details on its Grow Forward strategy during its Q4 and FY 2023 earnings conference call in February 2024.
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End-of-Day
-0.68%
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Omni Logistics, LLC and Forward Air (NASDAQ: FWRD) have agreed to amend the terms of their merger agreement, resolving all outstanding litigation between the parties. The amended agreement will see Omni shareholders receive $20 million in cash and 35% of Forward's pro forma common equity, compared to the original $150 million and 37.7% respectively. The combined company aims to become a global leader in expedited LTL services, creating significant value for shareholders, customers, and employees.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.31%
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Forward Air Corp
Nasdaq:FWRD
FWRD Rankings
FWRD Stock Data
567.23M
25.89M
1.63%
99.79%
14.05%
Postal Service
Transportation and Warehousing
United States of America
GREENEVILLE
About FWRD
forward air corporation is a leading provider of time-definite surface transportation and related logistics services to the north american air freight and expedited ltl market. we provide scheduled surface transportation of cargo as a cost effective, reliable alternative to air transportation. we transport air freight that must be delivered at a specific time, but is less time-sensitive than traditional integrated services. in the past decade, we have greatly expanded our service offerings to include an array of logistics services, including pick-up and delivery, intermodal drayage, pool distribution, and specialized temperature-controlled logistics services. our network of freight terminals are located on or near airports in 92 u.s. and canadian cities, including our central sorting facility in columbus, ohio and 11 regional sort centers that create the most effective linehaul network in the industry.