|Over a week ago|
Forward Air raises quarterly dividend 16.7% to 21c per share » 16:2310/2910/29/20
The dividend is payable…
The dividend is payable to shareholders of record at the close of business on November 25, 2020 and is expected to be paid on December 10, 2020.
Forward Air reports Q3 EPS 61c, consensus 43c » 16:2210/2910/29/20
Reports Q3 revenue $332M,…
Reports Q3 revenue $332M, consensus $322.27M. Tom Schmitt, Chairman, President and CEO, commenting on the Company's third quarter results said, "During the third quarter our teams did a great job of continuing to restore volumes in response to COVID-19. To support our efforts to grow our fleet and enhance our network capabilities, we implemented several pricing actions during the back half of the quarter which will drive continued improvements in our operational performance and shipment-level profitability."
|Over a month ago|
Forward Air to acquire assets of Value Logistics for $2.25M » 16:3210/0510/05/20
Forward Air announced…
Forward Air announced that it has entered into an agreement to acquire the assets of Value Logistics, a privately held intermodal drayage provider for $2.25M. Value Logistics generates approximately $6M in annual revenue. The transaction will be funded from cash on hand and will close in October. Headquartered in Memphis, Tennessee, Value Logistics has been in business since 1996. Since then, the company has shown steady growth and currently operates with 20 employees and approximately 30 independent contractors. The acquisition of value logistics makes Forward a provider of intermodal drayage in the Memphis market, a key expansion in the company's strategic growth plan.
Fly Intel: Top five analyst upgrades » 09:5409/2909/29/20
D, HSY, SQ, RH, FWRD
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Dominion (D) upgraded to Overweight from Neutral at JPMorgan with analyst Jeremy Tonet saying U.S. utilities are "ideally situated" to capitalize on state environmental policies that continue to increase and accelerate renewable energy initiatives. 2. Hershey (HSY) upgraded to Outperform from Market Perform at BMO Capital with analyst Kenneth Zaslow saying despite an ongoing valuation premium to its food peers, Hershey has become a "compelling investment." 3. Square (SQ) upgraded to Outperform from Peer Perform at Wolfe Research. 4. RH (RH) upgraded to Outperform from Market Perform at Cowen with analyst Max Rakhlenko saying he is constructive on RH's transformation and sees upside to the company's long-term targets on revenue. 5. Forward Air (FWRD) upgraded to Outperform from Market Perform at Raymond James with analyst Patrick Tyler Brown saying he views Forward as uniquely positioned to capitalize on a tightening freight market and a robust LTL pricing backdrop, anchored by its accelerating LTL door-door expansion, primarily focused on time sensitive LTL freight. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Forward Air upgraded to Outperform from Market Perform at Raymond James » 07:0609/2909/29/20
Raymond James analyst…
Raymond James analyst Patrick Tyler Brown upgraded Forward Air to Outperform from Market Perform. Brown views Forward as uniquely positioned to capitalize on a tightening freight market and a robust LTL pricing backdrop, anchored by its accelerating LTL door-door expansion, primarily focused on time sensitive LTL freight. While the analyst appreciates the outsized negative impact from COVID disruption on Forward's 1H20 volumes given its leverage to non-essential freight, he stressed that management is by no means "standing still."
Forward Air upgraded to Outperform from Market Perform at Raymond James » 04:5109/2909/29/20
Raymond James analyst…
Raymond James analyst Tyler Brown upgraded Forward Air to Outperform from Market Perform with a $65 price target.
Forward Air to acquire CLW Delivery for $5.5M » 09:0409/1609/16/20
Forward Air announced…
Forward Air announced that it has entered into an agreement to acquire the assets of CLW Delivery, or CLW, a privately held final mile provider for $5.5M. CLW generates $20M in annual revenue. The transaction will be funded from cash on hand and will close in October. The acquisition of CLW supports the company's strategic growth plan by expanding the footprint of Forward's Final Mile business into an additional 14 markets. With this acquisition, along with FSA Logistix and Linn Star Transfer in 2019,
|Over a quarter ago|
Forward Air to increase California surcharge by 5% » 10:0208/2008/20/20
Forward announces a 5%…
Forward announces a 5% increase on its California surcharge. The surcharge will be applied to all origin California shipments tendered on or after Sept. 1. A dramatic increase in imports from Asia into California has created a strain on the supply chain, leading to difficulties in taking delivery of containers at the ports, chassis shortages at the terminals and delays in returning empty containers. This pressure has led to increased operating costs.
Forward Air sees Q3 EPS 40c-44c,consensus 35c 16:3907/3007/30/20
Forward Air reports Q2 EPS 33c, consensus 12c » 16:3907/3007/30/20
Reports Q2 revenue…
Reports Q2 revenue $281.7M, consensus $276.66M. Reports Q2 operating margin 4.9% vs. 9.6% last year. Tom Schmitt, Chairman, President and CEO, commenting on the Company's second quarter results said, "I could not be more proud of our teams for stepping up in a huge way for our customers, bringing them back up from April lows in the toughest circumstances with record service levels. By June our top and bottom lines were ahead of last year on a continuing operations basis and were comparable to last year when adjusted for one-time items."