Forward Air's Core Expedited LTL Tonnage Still Soft, but We're Raising FVE on Probable Tax Reform
In the first quarter, narrow-moat expedited less-than-truckload carrier Forward Air posted 7.5% consolidated revenue growth, driven by rising fuel surcharges and favorable mix changes in the core expedited LTL operations. Also contributing was healthy growth in the truckload premium and pool distribution segments. Pool distribution is seeing a nice uptick in freight opportunities linked to the failure of a few competitors; the firm is executing admirably on that front. These factors were partly ...Forward Air is an asset-light freight and logistics company. The company has four segments: Expedited less-than-truckload (LTL), which provides expedited regional, inter-regional and national LTL and final mile services; Truckload Premium Services, which is an asset-light provider of transportation management services, including, but not limited to, expedited truckload brokerage, fleet services, as well as security and temperature-controlled logistics services; Intermodal, which provides first- and last-mile intermodal container drayage services; and Pool Distribution, which provides handling and distribution of time-sensitive product to various destinations in specific geographic regions.
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