Forward Air (FWRD) sees top of its guidance for net earnings per diluted share in the second quarter

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Forward Air Corporation (NASDAQ: FWRD) (the “Company”, “Forward”, “we”, “us” or “our”) today provided the following key expedited cargo operating statistics for the period from quarter-to-date through May 2022. Revenue per shipment increased 40.7%, weight per shipment increased 15.4% and pounds per day increased 0.4% over the same period last year.

Tom Schmitt, Chairman, President and CEO of Forward, said, “We remain focused on selecting the best quality freight across our network. The second quarter of the previous year was the peak period for bulk non-palletized freight. We have cleaned up our inefficient freight network to ensure we deliver on our commitment to customers for their most sensitive freight, to the point where we now have the same tonnage as last year at much higher quality levels. We continue to add higher quality tonnage, which, based on our performance through May, gives me confidence that we will exceed the top of our guidance for net earnings per diluted share in the second quarter of 1, $59 to $1.63.

The Company’s expectations regarding the Company’s performance in the second quarter and any future quarters are based on information available at the time of this release and are subject to changing conditions, many of which are beyond the Company’s control.

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