Forward Air Reports Mixed Q4 Amid Stabilization Efforts
Revenue Soars 87%, but Acquisition Costs Drive $35.4 Million Loss
Forward Air reported a net loss of $1.12 billion for all of 2024. (Forward Air Corp. via Facebook)
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Forward Air Corp. remained focused on stabilizing its operations in the aftermath of a major acquisition and change in direction leading up to the fourth quarter of 2024, the company reported Feb. 26.
The Greeneville, Tenn.-based ground transportation and logistics services provider posted a net loss of $35.4 million, or negative $1.23 a diluted share, for the three months ending Dec. 31. That compared with a loss of $14.7 million, 58 cents, during the 2023 period. Total revenue increased 87% to $632.9 million from $338.4 million.
“As is always the case with turnarounds with this much size, scale and complexity, there are usually bumps along the way, and this quarter was no exception,” Forward Air CEO Shawn Stewart said during a call with investors. “But we remain resolute and excited about our future.”
For the full year, Forward Air reported net loss of $1….
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