Forward Air Provides Mid-Quarter Update on First Quarter 2022 Performance
March 04 2022 - 9:36AM
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 quarter-to-date
period through February 2022. Revenue per shipment increased 52.5%,
revenue per hundredweight increased 16.1%, weight per shipment
increased 28.7% and pounds per day increased 10.7% over the same
period last year.
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Forward Air provides mid-quarter update
on first quarter 2022 performance (Photo: Business Wire)
Tom Schmitt, Chairman, President, and Chief Executive Officer of
Forward, commented, “The strong revenue growth for the first two
months of the quarter 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 results illustrate the ongoing positive momentum
in our business, and we remain optimistic about First Quarter
results based on our performance through February.”
The Company’s expectations regarding the Company’s performance
in the First 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.
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 first quarter of 2022. 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 first quarter of 2022 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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