Forward Air Provides Mid-Quarter Update on Fourth Quarter 2021 Performance
December 09 2021 - 9:17AM
Business Wire
Forward Air Corporation (NASDAQ: FWRD) (the “Company”,
“Forward”, “we”, “our”, or “us”), today provided the following key
Expedited Freight Operating Statistics for the month of November
2021. Revenue per shipment increased 60.5%, revenue per
hundredweight increased 14.4%, weight per shipment increased 37.0%
and pounds per day increased 5.5% over the same period last
year.
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Tom Schmitt, Chairman, President, and Chief Executive Officer of
Forward, commented, “Our critical weight per shipment and revenue
per shipment statistics for November were even stronger than in
October, and total pounds for the month of November as compared to
the same period increased 10.8%, a positive improvement from
October. The solid growth is the result of sustained collaboration
with our customers on the selection of higher-quality freight in
our network and continued strong demand for our premium services.
We believe our solid November results illustrate the ongoing
positive momentum in our business, and we remain optimistic about
Fourth Quarter results based on our performance through
November.”
The Company’s expectations regarding the Company’s performance
in the Fourth Quarter and in any future quarter are based on
information available at the time of this release, and are subject
to changing conditions, many of which are outside of the Company’s
control. The Company is not adopting a policy or practice of
providing monthly updates on its financial performance. Going
forward, the Company intends to provide a mid-quarter update on its
operational performance through the second month of the quarter but
is not in any way adopting a policy of doing so.
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 for
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 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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Forward Air Corporation Brandon Hammer, 423-636-7173
bhammer@forwardair.com
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