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 an asset-light transportation and logistics company that publicly reports on developments across its expedited freight, Omni Logistics and intermodal segments. The FWRD news feed on Stock Titan brings together company-issued press releases and other coverage that reflect how Forward Air is operating within the transportation and warehousing sector.
In its recent communications, Forward Air has highlighted quarterly financial results, including updates on operating income, segment performance and liquidity. Earnings releases describe trends in the Expedited Freight segment, which the company characterizes as encompassing one of the largest expedited LTL networks in North America, as well as results from Omni Logistics and Intermodal operations. These updates often discuss cost management, transformation initiatives and the impact of freight market conditions.
Beyond earnings, Forward Air’s news includes announcements about customer awards and project wins. Examples include combined Forward Air and Omni Logistics service offerings for a global athletics brand, nationwide automotive replenishment projects managed through Omni, and expanded partnerships with a leader in package delivery services. Such items illustrate how the company applies its expedited LTL, truckload brokerage, intermodal drayage and multimodal capabilities in real-world customer settings.
Corporate governance and strategic updates are also part of the news flow. The company has reported Board changes, a comprehensive strategic alternatives review and shareholder meeting outcomes, along with philanthropic activities such as the Drive for Hope Golf Tournament benefiting Hope For The Warriors. Investors and observers can use this news page to follow Forward Air’s operational performance, strategic direction and community initiatives over time.
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.
Forward Air Corporation (NASDAQ: FWRD) announces its largest rate-per-mile increase for its independent contractor fleet, implementing a 15 cent increase. This historic adjustment boosts earning potential for independent contractors, with forecasts suggesting team drivers could earn over $497,250 annually and solo contractors over $203,500. This represents a 25% and 43% increase in average rates since 2016. The company aims to enhance freight capacity and attract new contractors amid record volume growth, providing a supportive environment for independent operators.
Forward Air Corporation (NASDAQ: FWRD) reported significant growth in its Expedited Freight Operating Statistics for November 2021. Revenue per shipment rose by 60.5%, while revenue per hundredweight increased by 14.4%. The weight per shipment surged by 37.0%, and pounds per day grew by 5.5% compared to November 2020. CEO Tom Schmitt highlighted that the company experienced a 10.8% increase in total pounds from October, driven by strong demand and collaboration with customers for higher-quality freight.
Forward Air Corporation (NASDAQ: FWRD) announced a general rate increase (GRI) of 7.9% effective February 1, 2022. This decision aims to offset rising operational costs due to a challenging environment. The increase will also impact select accessorial and minimum charges. Forward Air intends to use additional revenue generated from the GRI to continue investing in service enhancements, fleet maintenance, and technology innovations to better serve its customers.
Forward Air Corporation (NASDAQ: FWRD) announced a $10,000 donation to Hope For The Warriors in honor of Veterans Day. The funds, sourced from online store sales and a company match, will support veteran rehabilitation efforts, focusing on adaptive driving equipment. Tom Schmitt, the CEO, emphasized Forward's commitment to military personnel. Hope For The Warriors has aided over 36,000 veterans and families since 2006. This initiative aligns with Forward's Operation Forward Freedom, aimed at providing life-changing support for veterans transitioning to civilian life.
Forward Air Corporation (NASDAQ: FWRD) reported a strong mid-quarter update for October 2021, highlighting a 16% year-over-year increase in pounds per day and a 33% rise in weight per shipment. Revenue metrics also saw significant growth, with a 11% boost in revenue per hundredweight and a remarkable 52% increase in revenue per shipment. CEO Tom Schmitt expressed optimism for the fourth quarter, noting a strong demand for their services and improved freight quality in their network, suggesting a promising outlook for the company's performance.