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Forward Air offers ground transportation and related logistics services in the United States and Canada. It is also worth noting that the company expects to open 30 new terminals in the next five years, which will likely result in revenue growth generation.
Forward Air Corp (NASDAQ:FWRD ) Q4 2022 Earnings Conference Call February 9, 2023 9:00 AM ET Company Participants Thomas Schmitt - President, CEO & Executive Chairman Rebecca Garbrick - CFO & Treasurer Conference Call Participants Grant Smith - Stephens Inc. Patrick Brown - Raymond James & Associates Todd Fowler - KeyBanc Capital Markets Scott Group - Wolfe Research Bascome Majors - Susquehanna Financial Group Operator Thank you for joining Forward Air Corporation's Fourth Quarter 2022 Earnings Release Conference Call. Before we begin, I'd like to point out that both the press release and webcast presentation for this call are accessible on the Investor Relations section of Forward Air's website at www.forwardaircorp.com.
The company's fourth quarter failed to live up to its expectations.
Forward Air (FWRD) delivered earnings and revenue surprises of -15.38% and 4.37%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Forward Air Corporation Announces Timing of Fourth Quarter 2022 Earnings Release and Conference Call
GREENEVILLE, Tenn.--( BUSINESS WIRE )--Forward Air Corporation (NASDAQ:FWRD) will release its fourth quarter 2022 earnings after the market closes on Wednesday, February 8, 2023 and hold a conference call to discuss those results on the following day, Thursday, February 9, 2023 at 9:00 a.m. ET. The Company's conference call will be available online on the Investor Relations portion of the Company's website at ir.forwardaircorp.com, or by dialing (877) 226-8189, Access Code: 8042513. Since we use our Investor Relations website as a primary mechanism to communicate with our investors, investors are urged to monitor the Investor Relations portion of the Company's website to easily find or navigate to current and pertinent information about us. A replay of the conference call will be available on the Investor Relations portion of the Company's website at ir.forwardaircorp.com beginning shortly after completion of the live call.
Asset-light trucking provider Forward Air announced Wednesday it will acquire expedited less-than-truckload provider Land Air Express for $56.5 million. Bowling Green, Kentucky-based Land Air Express' network includes 270 employees and over 200 drivers operating out of more than 25 terminals throughout the U.S. Its offering includes guaranteed, same-day, hot shot and pickup and delivery services of shipments as small as an individual parcel up to a full trailer load.
Forward Air CEO Tom Schmitt on how long the decline in consumer demand and slowdown in shipping from China will last.
Less-than-truckload provider Forward Air announced Thursday further deceleration in tonnage during the fourth quarter as pieces per shipment have declined 20% year over year (y/y). “Our customers and we are experiencing what we believe is a temporary but significant softening in the freight environment,” Chairman, President and CEO Tom Schmitt commented in regard to declines the company logged in October and November.
GREENEVILLE, Tenn.--( BUSINESS WIRE )--Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is executing a growth strategy that involves organic infrastructure investments, such as its ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. Today, Forward announced that on Tuesday, November 15, 2022, at approximately 1:00 p.m. CST, Tom Schmitt, Chief Executive Officer, and Rebecca Garbrick, Chief Financial Officer, will participate in a fireside chat at the Stephens 24th Annual Investment Conference in Nashville, Tennessee.
Asset-light transportation provider Forward Air announced Monday it has entered into an agreement to acquire intermodal drayage provider Chickasaw Container Services (CCS). The transaction is expected to close in November and will be funded with cash on hand.