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

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Forward Air Corp (Forward Air) is an asset-light freight and logistics company. The company's primary activities include providing less-than-truckload (LTL), truckload, and intermodal drayage services. Forward Air's services include transportation management services, expedited truckload brokerage, fleet services, and temperature and security-controlled logistics services, delivery during tight time windows, and special handling. The company offers its services to freight and logistics intermediaries, integrated air cargo carriers, and passenger and cargo airlines. It also provides provides first-and last-mile container drayage services to and from seaports and railheads. It operates in the US, Canada and Mexico. Forward Air is headquartered in Greeneville, Tennessee, the US.

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Headquarters United States of America

Address Building N, 1915 Snapps Ferry Road, Greeneville, Tennessee, 37745

Telephone 1 423 6367000

No of Employees 4,014

Industry Transport and Logistics

Ticker Symbol & Exchange FWRD (NASD)

Revenue (2022) $1.4B -18.4% (2022 vs 2021)

EPS XYZ

Net Income (2022) XYZ -13.4% (2022 vs 2021)

Market Cap* $504.7M

Net Profit Margin (2022) XYZ 6.2% (2022 vs 2021)

* As of and is in US$

View Forward Air Corp financials

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Forward Air Corp premium industry data and analytics

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IT Client Prospector provides intelligence on Forward Air Corp’s likely spend across technology areas enabling you to understand the digital strategy.

Products and Services

Services
Expedited Freight
Less-Than-Truckload (LTL)
Truckload Services
XYZ
XYZ
XYZ

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History

History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.

Year Event Description
2024 Acquisitions/Mergers/Takeovers In January, the company merged with Omni Logistics.
2023 Stake Sale In October, the company sold a stake to Ancora Holdings Group.
2023 Contracts/Agreements In August, the company entered into an agreement to merge with Omni Logistics, LLC.

Dive into past operations, including product releases, deals, acquisitions & more Dive into past operations, including product releases, deals, acquisitions & more Find out more

Forward Air Corporation Company Profile - Forward Air Corporation Overview (2)

Competitor Comparison

Key Parameters Forward Air Corp United Parcel Service Inc FedEx Corp C.H. Robinson Worldwide Inc Old Dominion Freight Line Inc
Headquarters United States of America United States of America United States of America United States of America United States of America
City Greeneville Atlanta Memphis Eden Prairie Thomasville
State/Province Tennessee Georgia Tennessee Minnesota North Carolina
No. of Employees 4,014 500,000 328,000 14,990 22,902
Entity Type Public Public Public Public Public

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Executives
Name Position Board Since Age
George S. Mayes Jr Chairman Executive Board 2024 65
Shawn Stewart Chief Executive Officer Senior Management 2024 -
Rebecca Garbrick Chief Financial Officer; Treasurer Senior Management 2021 49
Chris C Ruble President; Chief Operating Officer Senior Management 2019 61
Joseph M. Tomasello Chief Information Officer Senior Management 2019 47
Non Dignissim Eros Proin vel Convallis 2024 XY
Non Dignissim Eros Proin vel Convallis 2024 XY
Non Dignissim Eros Proin vel Convallis 2024 XY

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

FAQs

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

Company Profile

What kind of company is Forward Air? ›

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.

How many trucks does Forward Air have? ›

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.

Why did Tom Schmitt leave Forward Air? ›

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.

Who bought Forward Air Solutions? ›

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

Who are Forward Air competitors? ›

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

What does Forward Air deliver? ›

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.

How many employees does Forward Air have? ›

Compare FWRD With Other Stocks
Forward Air Annual Employee Count
20214,327
20203,774
20195,480
20185,369
11 more rows

Who is the CEO of Forward Air? ›

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.

How big is the Forward Air fleet? ›

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.

Who owns 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 ...

Is Forward Air still in business? ›

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.

Why did forward air stock drop? ›

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.

Is Forward Air a publicly traded company? ›

Company Info

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

What does an air freight forwarder do? ›

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.

What is the liability limit for forward air? ›

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 ...

What is the biggest freight forwarding company? ›

List of Forwarders Ranking 2023
A&A RankProviderGross Revenue (US$ M)
1Kuehne + Nagel46,864
2DHL Supply Chain45,590
3DSV34,883
4DB Schenker30,392
21 more rows
Dec 7, 2023

Is forward air a bonded carrier? ›

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.

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