Forward Air Corporation Company Profile - Forward Air Corporation Overview (2024)

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Forward Air Corporation Company Profile - Forward Air Corporation Overview? ›

Company Profile

For over 40 years, Forward has grown into a leading ground transportation provider and related shipping services to the North American air freight and expedited LTL market.

What Are Truckload Solutions? Truckload Logistics Services is powered by 3,500 qualified carriers and supported by 1,700 Forward trucks including dry van, reefers, flat bed, step-deck, over-dim freight and more.

Forward Air is replacing Chairman, President and CEO Tom Schmitt, the company announced Wednesday, after an unsuccessful effort to scuttle a $3.8 billion merger with Omni Logistics that closed last month. The company gave no reason for the departure of Schmitt, who is also no longer on the company's board.

The deal includes the transfer of about 45 locations and more than 640 employees.

Forward Air's competitors and similar companies include Covenant, PeriShip, Seaboard Marine and Vanguard Logistics.

We have the highest standards of precision execution for both simple pickups and more complex deliveries, including appliances, big and bulky equipment, and furniture of all shapes.

Forward Air has hired Shawn Stewart, a longtime CEVA Logistics executive and Navy veteran, as its next CEO, the company announced Tuesday. Stewart's appointment as chief executive and board director is effective Sunday, ahead of the carrier's Q1 earnings announcement on May 8, per the release.

Fill in your shipping blanks with Forward's Full Truckload (FTL) services—leveraging our growing fleet of 2,100 power units (just a driver and trailer) and 5,300 trailers.

Did Forward Air buy Omni Logistics? ›

Favorable year-over-year volume improvement for the segment offers a promising outlook, according to interim CEO Michael Hance. A Forward Air truck travels on a highway. The company is focusing on LTL growth following its acquisition of Omni Logistics.

GREENEVILLE, Tenn., & DALLAS–(BUSINESS WIRE)– Forward Air Corporation (NASDAQ: FWRD) (“Forward”) and Omni Logistics, LLC (“Omni”), a private company that is majority owned by Ridgemont Equity Partners (“Ridgemont”) and EVE Partners, LLC (“EVE”), today announced that they have entered into a definitive agreement under ...

Forward Air is actively exploring selling other parts of its business. Chief Legal Officer Michael Hance told analysts the company was working on a plan to divest noncore assets in 2024. Forward Air in December sold its final mile business to logistics specialist Hub Group for $262 million.

Forward Air stock has been weighed down lately due to its acquisition of Omni Logistics. Forward Air had initially offered $150 million cash and 37.7% Forward's pro-forma equity shares to Omni. Forward Air was also planning to absorb Omni's debt of $1.4 billion, taking the overall deal value to $3.2 billion.

Company Info

Our stock is traded on the Nasdaq under the symbol FWRD.

An air freight forwarder specializes in moving freight by air on either passenger aircrafts or specially designed cargo aircrafts. This specialization enables them to better understand the intricacies of air freight, create a relationship with the TSA, and, in many cases, provide better air rates.

Unless otherwise specified herein, cargo liability on all domestic shipments shall be limited to the higher of $50.00 per shipment or $0.50 per pound of cargo lost or damaged plus transportation charges applicable to that part of the shipment lost or damaged, unless at the time of tender, the Shipper declares a higher ...

Operating as a broker, we pull from over 4,000 fully-bonded qualified carriers and 1,700 Forward trucks coupled with a wide range of transportation equipment to provide you with the longhaul, regional, and local services you need.