Forward Air News Updates

The Tennessee-based ground transportation and logistics services provider posted a net loss of $34.2 million, or negative $2.62 a diluted share, for the three months ending Sept. 30.

Despite the reported net loss, investors appeared to be responding positively. It was primarily due to a one-time goodwill impairment charge related to the Omni acquisition.

Forward Air Corp. ended an eventful first quarter with positive revenue growth but a decline in total earnings, the company reported May 8.

Shawn Stewart is set to join Forward Air as CEO, effective April 28, the carrier said April 23. He also will join the asset-light transportation services group’s board of directors.

Forward Air Corp. experienced a 138% earnings drop year-over-year during the fourth quarter of 2023, the company reported Feb. 28.

Forward Air CEO Tom Schmitt exited the company days after finally completing the carrier’s at-times contentious merger with Omni Logistics.

Forward Air on Jan. 25 announced the completion of its long-pending acquisition of Omni Logistics, with both companies’ leaders touting the benefits of the merger.

Forward Air Corp. and Omni Logistics have settled litigation surrounding a planned merger that allows a deal to proceed under amended terms, the companies announced Jan. 22.

Hub Group Inc. is set to buy the final-mile unit of Forward Air Corp. for about $262 million in cash, Oak Brook, Ill.-based Hub Group said.

Forward Air has filed a counterclaim against Omni Logistics in response to a lawsuit Omni filed alleging that Forward has not followed through on a planned merger between the companies.