Analysts didn’t get the level of detail they were hoping for Thursday during Forward Air’s first quarterly call since its messy merger with Omni Logistics.
Forward Air’s fourth-quarter results sent shares lower in after-hours trading on Wednesday as investors hope a Thursday call will provide financial targets following a controversial merger.
Thomas Schmitt, the Forward Air CEO who put together the deal with Omni Logistics trashed by investors, is leaving the company.
Forward Air provided an update on January trends but made no mention of December numbers or who is currently in charge of recently acquired Omni Logistics.
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J.J. Schickel, CEO of Omni Logistics, will not be in an executive role at the combined Forward Air-Omni company.
Forward Air announced Thursday that it has closed on a merger with Omni Logistics following months of litigation.
Forward Air announced Monday that its deal with Omni Logistics will close at a slightly reduced amount.
A Delaware court will determine if Forward Air is required to close on a merger with Omni Logistics, or if Omni breached the deal agreement as alleged.
2023 brought two large truckload acquisitions, several less-than-truckload carriers picking through a bankrupt carrier’s assets and no resolution to a $3.2 billion merger attempt, among other transactions.
Counsel for Omni Logistics claims Forward Air’s CEO withheld requested notes from board meetings discussing plans to avoid a merger between the companies.
Forward Air said Wednesday it sold its final-mile business, but it provided no update on the status of a merger with Omni Logistics.
Forward Air announced a 5.9% general rate increase for 2024 that is near the middle of the range of recent carrier announcements.
Forward Air reports positive tonnage trends for the first two months of the fourth quarter.
A recent exchange of filings in a Delaware court shows Forward Air and Omni Logistics are at odds over Omni’s 2023 financial forecasts, among other things.
An open letter from activist investor Ancora says the firm has come under attack following its public disapproval of Forward’s merger proposal with Omni Logistics.
AIT becomes an alternative to incumbents for middle-mile LTL share.
Forward Air provided long-term financial targets on Tuesday and said the outcome of its bid for Omni Logistics may not be decided until next year.
Forward Air has filed a counterclaim against Omni Logistics and wants a Delaware court to rule it’s not obligated to move forward with the merger.
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Omni Logistics is asking a Delaware court to make Forward Air close on a planned merger between the two companies.
Forward Air will primarily focus on less-than-truckload opportunities moving forward as it tries to exit a burdensome merger agreement.
Forward Air said it would accelerate a strategic review of its assets after missing third-quarter consensus and providing a weaker-than-expected fourth-quarter outlook.
Forward Air may decide to terminate its merger agreement with Omni Logistics even though a Tennessee court said it won’t stand in its way.
President and COO Webb Estes reviews restored functions, praises customers that stuck around.
Activist investor Ancora said it will move to remove Forward Air’s board and CEO if a Tennessee court rules a shareholder vote on the Omi merger is warranted.
A Tennessee court will take more time mulling over a complaint from shareholders claiming they have the right to vote on Forward Air’s merger with Omni Logistics.
Estes Express has opened up a web portal to communicate with customers amid a cyberattack on the LTL carrier.
Forward Air’s planned merger with Omni Logistics hit a roadblock this week as a Tennessee court said it will decide next month if shareholders get a vote.
Two debt rating agencies, Fitch and S&P, rated Forward Air’s newly issued debt from its Omni deal and were mostly positive.
Forward Air’s August tonnage improved from July but likely came in lower than expected.
Forward Air defends its latest deal that will position it as a supplier and a competitor to its customers.
Forward’s plan to acquire a large forwarder has stakeholders concerned.
Forward Air announced Thursday it will merge with asset-light logistics peer Omni Logistics.
Less-than-truckload provider Forward Air missed second-quarter earnings expectations but management noted it’s seeing a lift from Yellow’s shutdown.
Less-than-truckload provider Forward Air said Tuesday that demand momentum has improved as the second quarter has progressed.
Forward Air said Monday it is adding an intermodal drayage operation in Linden, New Jersey, to serve Port Newark.
Autonomous trucking runs are getting longer and more frequent as Kodiak Robotics and Forward Air begin thrice-weekly Dallas-to-Atlanta roundtrips.
Forward Air said Tuesday that low-teens tonnage declines over the past few months have calmed in early March.
Shares are trading down sharply after Forward Air reported shipping fewer pieces per shipment than expected in the fourth quarter.
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Forward Air announced it will buy fellow expedited less-than-truckload provider Land Air Express in a $56.5 million transaction.
Less-than-truckload carriers are hopeful a recent round of general rate increases stick on the downside of the cycle.
Asset-light less-than-truckload provider Forward Air sees tonnage fall off sharply in November.
Less-than-truckload demand has taken another step lower, according to carriers attending the Stephens investor conference.
Hablemos por un momento del elefante en la habitación: nuestro tonelaje de octubre”, se lamenta el director general de Yellow
Forward Air said Monday it has entered into an agreement to acquire an intermodal drayage provider with locations in Mobile, Alabama, and Memphis, Tennessee.
Forward Air highlights several growth opportunities that will push results higher again in 2023 even if the economy slows further.
Less-than-truckload provider Forward Air continues to register notable revenue growth more than one year into freight swap.
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Forward Air raised its earnings expectations again. Management believes it has the ability to generate higher results even in a recession.
Less-than-truckload carrier Yellow Corp. reported another drop in tonnage during May as its terminal rationalization continues.
Forward Air announced the first West Coast addition to its drayage franchise with the acquisition of Edgmon Trucking.
Forward Air beat first-quarter expectations and pulled forward 2023 financial targets by a full year.
ArcBest reported Friday that the favorable revenue trends logged in the fourth quarter have continued through the first two months of the first quarter.
Forward Air head Tom Schmitt was bullish about the company’s prospects on a call with analysts Thursday. Forward is already on track to achieve recently issued 2023 targets ahead of schedule.
Less-than-truckload carrier Saia announced a 7.5% general rate increase Tuesday. The carrier was the latest to announce rate hikes greater than the normal mid-single-digit increases.
Forward Air’s Sylvia Cintron talks with FreightWaves’ Kaylee Nix about tailoring B2B marketing to fit the audience you’re targeting.
AskWaves looks at the impact general rate increases have on less-than-truckload rates.
In its third pay hike of 2021, Forward Air rolls out its biggest pay package for independent contractors ever.
El proveedor de LTL y TL aumenta la tarifa por milla por
tercera vez en 2021
Old Dominion Freight Line was the latest less-than-truckload carrier to implement a general rate increase ahead of schedule. The 4.9% adjustment is in line with the rate hike it announced earlier in the year.
Forward Air’s initiative to upgrade its freight mix to a heavier class of premium cargo was evident in November results.
Intraquarter updates from less-than-truckload carriers show record third-quarter operating conditions have continued through the first two months of the fourth quarter.
General rate increases for less-than-truckload shipments not under contract are rolling in ahead of schedule and are a little higher than normal.
Less-than-truckload carriers report strong October results. But one analyst questions if the stocks have run too far ahead of results.
Forward Air announced the acquisition of two Minnesota-based intermodal transportation outfits on Wednesday.
Forward Air took an aggressive step Thursday, issuing sizable earnings growth guidance through 2023. Upgrading the freight mix has management confident in the extended outlook.
Nine months after a ransomware attack on Forward Air, the company has notified current and former employees that sensitive personal information may have been exposed.
Forward Air posts a quarterly record for operating income and revenue in the second quarter.
Forward Air announced Friday that VP and Controller Rebecca Garbrick has been named the company’s new CFO, a role that had been vacant for three months.
Forward Air is marketing itself as Forward because it offers more than just airport-to-airport linehaul.
Asset-light trucking and logistics provider Forward Air’s new pay plan incentivizes operators to haul into the country’s more challenging markets.
As first quarter earnings continue to be announced, FreightWaves takes a look at how truckload and LTL carriers stack up.
Forward Air provided some clarity on longer-term margin expectations during a Friday conference call with analysts. The company beat first-quarter expectations and its new guidance came in much better than expected.
Forward Air reported first-quarter earnings results and issued second-quarter guidance that were both ahead of expectations.
Forward Air announced it has entered an agreement to acquire expedited transportation and less-than-truckload provider J&P Hall Express.
Trucking companies will need to become more strategic about recruitment in the future. Those not willing to change will have difficulty finding drivers.
Forward Air’s growth plans net 11 new final-mile terminal locations in the first quarter. While recent activist shareholder interests called into question the company’s capital allocation strategy, it appears the final-mile segment remains part of the plan.
Forward Air announces its “largest-ever” rate increase to capacity providers.
Less-than-truckload carrier Saia announces the addition of its 20th facility in the Northeast in just the last four years. The LTL market continues to garner incremental investment dollars as demand rises.
Activist investor Ancora Advisors gains two seats on Forward Air’s board and endorses three others. The company’s former CFO has been brought on in a consulting role.
In today’s edition of The Daily Dash, diesel prices may start rising as the refineries had to shut down because of the winter weather down South. Plus, the activist investors pushing for change at Forward Air are not thrilled with the latest news from the company.
Andrew Cox and Seth Holm detail Ancora Advisors’ attempts to reroute asset-light trucking and logistics company
The activist investor group seeking changes at Forward Air said the company’s recent results and guidance are “substandard” in a letter to shareholders. The group also asserts that Forward was “disingenuous” in the way it provided updates on fourth-quarter results, suggesting it was fearful of receiving other board nominations.
In today’s edition of The Daily Dash, Old Dominion is the latest LTL carrier to announce a rate increase. Plus, SONAR data shows a freight market moving sideways, and Forward Air reaffirms its direction in spite of activist shareholder pressure.
Most less-than-truckload carriers have implemented general rate increases for 2021. The average increase is in the mid-single digits, ahead of some increases issued in the past and likely indicative of a firm LTL market.
In today’s edition of The Daily Dash, C.R. England sues a law firm involved in a staged-accident scheme. Plus, XPO thinks 2021 is only going to get better, and Forward Air makes an acquisition and a divestiture.
Amid heightened scrutiny over the direction of the company, Forward Air’s management team defends its current strategy. Fourth-quarter results were negatively impacted by a December cyberattack.
New unit acquired by Forward Air increases its intermodal footprint.
In today’s edition of The Daily Dash, an activist investor wants changes at Forward Air. Plus, a strong start to 2021 for LTL carriers; reshoring is coming into vogue; and recapping FreightWaves’ Health & Pharma Supply Chain virtual event.
An open letter from activist investor Ancora Advisors says “ineffective capital allocation” and diversification into “margin- and return-dilutive service offerings” have led to inferior results for Forward Air compared to other less-than-truckload carriers.
In today’s edition of The Daily Dash, diesel fuel prices are rising across the country. Plus, the Postal Service could be getting a makeover; Forward Air talks cyberattacks; and TFI discusses its plans for UPS Freight.
The most important number, yield, is up from January 2020 for Forward Air.
Forward Air’s CIO recommends hiring a CIO who has been through a crisis as an important step to prepare for a cyberattack.
In today’s edition of The Daily Dash, Schneider plans to invest in new equipment in 2021. Plus, UPS CEO Carol Tomé talks about the sale of UPS Freight; Jeff Bezos will step down as CEO of Amazon; and Daimler spins off its truck businesses.
Forward Air was on track to beat its Q4 estimates before the December cyberattack.
In today’s edition of The Daily Dash, UPS’ blowout Q4; Mayor Pete gets a new job; and Forward Air is raising prices.
Forward Air is the latest transportation provider to implement general rate increases amid a tight capacity environment. The company’s 6% GRI will apply to all shipments.
In today’s edition of The Daily Dash, an activist investor speaks about what changes Forward Air should make. Plus, FedEx Ground is losing a key executive and why UPS Freight was no longer a strategic fit for UPS.
Hear from owner-operators and safety personnel to stay ready for the challenges of the road
