2023 guidance

Forward Air to hit 2023 EPS target a year early

White Forward Air trailer being pulled by a white tractor on highway

Management from Forward Air said Thursday that March was the best month in the company’s history, with its less-than-truckload segment experiencing three of the highest tonnage weeks on record. The comments came on its first-quarter call, which highlighted the progress the asset-light trucking company has made transitioning its freight mix away from low-paying, light shipments to heavier loads. The efforts were undertaken to improve density and yields.

Forward reported record revenue, operating...

https://www.freightwaves.com/news/forward-air-earnings-q1-2022

Forward Air on pace to hit 2023 targets early

Less-than-truckload margin to improve as freight market cools

Forward Air closed 2021 with better-than-expected financial results. The company achieved a “double-double” — double-digit revenue growth (31%) with an adjusted operating margin in the double digits (10%). The first full-year double-double wasn’t expected until 2022.

The Greeneville, Tennessee-based asset-light trucking company has used a tight freight market to swap out lower-yielding e-commerce shipments for heavier loads tied to the industrial tech sector, such as medical devices. “We’ve made...

https://www.freightwaves.com/news/forward-air-already-operating-ahead-of-2023-targets