To Offset Rising Operating Costs, Forward Air Announces General Rate Increase on All Shipments
February 01 2021 - 5:20PM
Business Wire
Forward Air Corporation (NASDAQ: FWRD) (the “Company or
“Forward”) is executing a growth strategy that involves organic
infrastructure investments such as its ongoing less-than-truckload
(LTL) network expansion, as well as inorganic investments,
including acquisitions of complementary businesses. Today, Forward
announces a six percent general rate increase on any shipments
tendered on or after Feb. 1, 2021. Additional changes to the
Company’s accessorial and surcharge schedule will also take effect
on Feb. 1, 2021.
The rate changes enable Forward to continue investing in service
enhancement as operating costs continue to rise in the freight
transportation industry. As an expedited carrier, Forward operates
on-demand without the long lead times that traditional carriers
require.
Forward remains committed to providing best-in-class, premium
expedited service to its customers.
About Forward Air Corporation Forward Air Corporation
(NASDAQ: FWRD) is a leading asset-light freight and logistics
company. We provide LTL, final mile, truckload, intermodal drayage
and pool distribution services across the United States and in
Canada. Headquartered in Greeneville, Tennessee, Forward operates
approximately 200 facilities across the country and employs more
than 5,200 people nationwide. We are more than a transportation
company. As a single resource for your shipping needs, Forward is
your supply chain partner. For more information, visit our website
at www.forwardaircorp.com.
This press release may contain statements that might be
considered as forward-looking statements or predictions of future
operations including with respect to the expected growth and future
performance of the Company and the ability of the Company to make
necessary adjustments that will allow it to continue providing
world-class service to its customers. Such statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and are based on management’s belief
or interpretation of information currently available. These
statements and assumptions involve certain risks and uncertainties
including that the rate changes will not be enough to mitigate
higher operating costs and that the Company is not able to achieve
its planned growth and expansion. Actual events may also differ
from these expectations as a result of the risks identified from
time to time in our filings with the Securities and Exchange
Commission. You should consider the forward-looking statement
contained herein in light of such risks. We assume no duty to
update these statements as of any future date.
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version on businesswire.com: https://www.businesswire.com/news/home/20210201005951/en/
Justin Moss jmoss@forwardair.com 404-362-2472
Forward Air (NASDAQ:FWRD)
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