Forward Air books big loss in post-merger Q1; stock drops 30%

Shares of Forward Air plunged 30% in pre-market trading Thursday following a rough first-quarter report that was issued five hours after Wednesday’s market close.

Forward (NASDAQ: FWRD) reported a headline net loss of $88.8 million, or $2.35 per share. Excluding one-off costs from the acquisition and integration of Omni Logistics as well as severance expenses tied to changes in leadership, the company reported an adjusted net loss of 64 cents per share. That compared to consensus estimates...

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