Forward Air Publishes Positive Mid-Quarter Update for its Fourth Fiscal Quarter 2021
November 09 2021 - 9:00AM
Business Wire
Forward Air Corporation (NASDAQ: FWRD) (the “Company”,
“Forward”, “we”, “our”, or “us”), is providing a mid-quarter update
on key Expedited Freight Operating Statistics for the month of
October 2021. Year-over-year pounds per day increased 16%, weight
per shipment increased 33%, revenue per hundredweight increased
11%, and revenue per shipment increased 52%.
“October results look terrific and showcase the ongoing momentum
that resulted from continued strong demand for our services and our
surgical collaboration with customers on selecting, handling and
pricing freight,” says Tom Schmitt, Chairman, President, and Chief
Executive Officer of Forward Air. “Our volumes were strong
year-over-year with higher quality freight in the network. We are
excited with the better-than-expected strong performance. With
these positive trends Forward’s run rate for the Fourth Quarter
looks promising.”
About Forward Air Corporation
Forward Air Corporation (NASDAQ: FWRD) is a leading asset-light
freight and logistics company that provides services across the
United States and Canada. We provide expedited less-than-truckload
(“LTL”) services, including local pick-up and delivery, shipment
consolidation/deconsolidation, warehousing, and customs brokerage
by utilizing a comprehensive national network of terminals. In
addition, we offer final mile services, including delivery of
heavy-bulky freight, truckload brokerage services, including
dedicated fleet services; and intermodal, first-and last-mile,
high-value drayage services, both to and from seaports and
railheads, dedicated contract and Container Freight Station
warehouse and handling services. 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 Company’s performance and
run rate in the fourth quarter of 2021. 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 Company’s performance and run rate in the fourth
quarter of 2021 is worse than anticipated. 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. 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/20211109006059/en/
Sophia Farooq - Forward Air SFarooq@forwardair.com
404.362.3959
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