Forward Air

Forward Air announced after the market closed Friday the termination “without cause” of its president and chief operating officer.

Forward Air continues to refresh its leadership team, hiring a new chief commercial officer on Wednesday.

Forward Air lowered full-year earnings guidance on Monday and said it wouldn’t address press reports that it is up for sale following a messy merger.

After mounting pressure from some shareholders following an ill-fated merger, sources have confirmed to FreightWaves that Forward Air is working with investment bankers to sell the company.

Investment firm Alta Fox has joined some of Forward Air’s other investors that are calling on the expedited trucking company to consider a sale following its controversial acquisition of Omni Logistics.

Driverless truck developers are looking to third-party validators to back their safety claims.

Nikola Corp. announced that it has hired ousted Forward Air CEO Tom Schmitt to lead its commercial efforts.

Activist investor Ancora has called on Forward Air’s board to consider a sale of the company and to begin engaging with potential buyers.

Activist investor Clearlake Capital holds a 13.8% equity position in Forward Air and signaled it may look to make changes at the company.

Forward Air said Wednesday it will continue to focus on integration and revenue opportunities following a messy merger with Omni Logistics.

Forward Air said Wednesday that interim Chief Financial Officer Jamie Pierson will assume that role on a permanent basis and that it has added James Faught as chief accounting officer.

Forward Air’s review of the first quarter shows the company has a little more breathing room to upcoming debt covenants.

Forward Air confirms it has implemented workforce reductions and other restructuring initiatives.

S&P Global cut its debt rating on Forward Air for the second time in four months.

Industry expert Satish Jindel offers perspective on Forward Air’s controversial merger with Omni Logistics.

Forward Air’s shareholders approved the conversion of Omni’s nonvoting shares to voting common stock, giving the group 35% control of the combined entity.

Two rating agencies have cut the debt rating of beleaguered Forward Air.

Forward Air announced it has hired two-time YRC Worldwide chief financial officer Jamie Pierson.

An amended class action complaint from Forward Air’s shareholders has been filed in a Tennessee court.

Forward Air’s first quarter missed expectations, sending shares 30% lower in pre-market trading Thursday.

Forward Air has named Ceva’s Shawn Stewart as its new CEO.

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.

Who is leading, following, emerging or out of the game in autonomous trucking? Here’s an assessment of shifts among the players.

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.

Inside this edition: Money can’t fix a people problem; FMCSA announces new oversight plan; and Forward Air adds to its family.

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.