Announces Record Date of March 25,
2024
Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “we”,
“our”, or “us”) today announced the filing of its definitive proxy
statement with the Securities and Exchange Commission (“SEC”) on
May 20, 2024 in preparation for its upcoming annual shareholder
meeting, which will be held on June 3, 2024 for shareholders as of
the March 25, 2024 record date.
Forward is dedicated to fostering a culture of continuous
improvement, transparency and accountability as the management team
continues to execute on the Company’s strategic priorities. This
includes maintaining an open dialogue with all our shareholders and
listening to their feedback to refresh the Board and ensure it has
the right mix of skills and experience to guide the Company
forward.
Forward’s Board and management team are committed to acting in
the best interests of the Company and its shareholders. The Company
will continue to take actions it believes will drive sustainable
value to shareholders as it integrates Omni, eliminates cost from
its structure and improves investor engagement.
For more information on the matters to be voted on at the
upcoming annual shareholder meeting, shareholders are encouraged to
review the definitive proxy statement, which will be available on
the Company's investor relations website and filed with the
SEC.
About Forward Air Corporation
Forward Air is a leading asset-light provider of transportation
services across the United States, Canada and Mexico. We provide
expedited less-than-truckload (“LTL”) services, including local
pick-up and delivery, shipment consolidation/deconsolidation,
warehousing, and customs brokerage by utilizing a comprehensive
national network of terminals. In addition, we offer truckload
brokerage services, including dedicated fleet services; and
intermodal, first-and last-mile, high-value drayage services, both
to and from seaports and railheads, dedicated contract and
Container Freight Station warehouse and handling services. Forward
also operates a full portfolio of multimodal solutions, both
domestically and internationally, via Omni Logistics. Omni
Logistics is a global provider of air, ocean and ground services
for mission-critical freight. We are more than a transportation
company. Forward is a single resource for your shipping needs. For
more information, visit our website at www.forwardaircorp.com.
Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: “anticipate,”
“intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,”
“expect,” “strategy,” “future,” “likely,” “may,” “should,” “will”
and similar references to future periods. Forward-looking
statements included in this press release relate to the Company's
ongoing commitment to provide excellent service to its customers;
ability to achieve the intended benefits of the acquisition of Omni
Logistics, including any revenue and cost synergies; and
expectations regarding the Company's ability to execute on its plan
to integrate Omni Logistics in order to generate long-term value
for shareholders.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. The following is a list of
factors, among others, that could cause actual results to differ
materially from those contemplated by the forward-looking
statements: economic factors such as recessions, inflation, higher
interest rates and downturns in customer business cycles, the
Company's ability to achieve the expected strategic, financial and
other benefits of the acquisition of Omni Logistics, including the
realization of expected synergies and the achievement of
deleveraging targets within the expected timeframes or at all, the
risk that the businesses will not be integrated successfully or
that integration may be more difficult, time-consuming or costly
than expected, the risk that operating costs, customer loss,
management and employee retention and business disruption
(including, without limitation, difficulties in maintaining
relationships with employees, customers, clients or suppliers) as a
result of the acquisition of Omni Logistics may be greater than
expected, continued weakening of the freight environment, future
debt and financing levels, our ability to deleverage, including,
without limitation, through capital allocation or divestitures of
non-core businesses, our ability to secure terminal facilities in
desirable locations at reasonable rates, more limited liquidity
than expected which limits our ability to make key investments, the
creditworthiness of our customers and their ability to pay for
services rendered, our inability to maintain our historical growth
rate because of a decreased volume of freight or decreased average
revenue per pound of freight moving through our network, the
availability and compensation of qualified Leased Capacity
Providers and freight handlers as well as contracted, third-party
carriers needed to serve our customers’ transportation needs, our
inability to manage our information systems and inability of our
information systems to handle an increased volume of freight moving
through our network, the occurrence of cybersecurity risks and
events, market acceptance of our service offerings, claims for
property damage, personal injuries or workers’ compensation,
enforcement of and changes in governmental regulations,
environmental, tax, insurance and accounting matters, the handling
of hazardous materials, changes in fuel prices, loss of a major
customer, increasing competition, and pricing pressure, our
dependence on our senior management team and the potential effects
of changes in employee status, seasonal trends, the occurrence of
certain weather events, restrictions in our charter and bylaws and
the risks described in our Annual Report on Form 10-K for the year
ended December 31, 2023, and as may be identified in our subsequent
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
We caution readers that any forward-looking statement made by us
in this press release is based only on information currently
available to us and they should not place undue reliance on these
forward-looking statements, which reflect management's opinion as
of the date on which it is made. We undertake no obligation to
publicly update any forward- looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise unless required
by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240519417066/en/
Elizabeth Volpe / Libby Lloyd Brunswick Group (212) 333 - 3810
ForwardAirCorporation@BrunswickGroup.com
Forward Air (NASDAQ:FWRD)
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