Forward Air Announces 2024 General Rate Increase
11 Dicembre 2023 - 3:27PM
Business Wire
Forward Air Corporation (NASDAQ: FWRD) (the “Company” or
“Forward”) today announced a 5.9 percent general rate increase
(GRI) on any shipments tendered on or after February 5, 2024.
The rate changes will enable the Company to continue investing
in customer support, safety and service enhancement, as operating
costs have risen for many in the freight transportation industry.
Factors necessitating the GRI include increased costs in real
estate, equipment, cost per mile and economic inflation.
As an expedited carrier, Forward leads the less-than-truckload
(LTL) industry with best on time performance, fastest speed on
major lanes and lowest damage rates. Forward remains committed to
providing best-in-class, premium expedited service to its
customers.
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 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 final mile services, including
delivery of heavy-bulky freight, 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. 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.
This press release may contain statements that might be
considered as forward-looking statements or predictions of future
operations including with respect to the expected growth and future
performance of the Company and the ability of the Company to make
necessary adjustments that will allow it to continue providing
world-class service to its customers. Such statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and are based on management’s belief
or interpretation of information currently available. These
statements and assumptions involve certain risks and uncertainties
including that the rate changes will not be enough to mitigate
higher operating costs and that the Company is not able to achieve
its planned growth and expansion. Actual events may also differ
from these expectations as a result of the risks identified from
time to time in our filings with the Securities and Exchange
Commission. You should consider the forward-looking statement
contained herein in light of such risks. We assume no duty to
update these statements as of any future date.
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version on businesswire.com: https://www.businesswire.com/news/home/20231211691193/en/
MEDIA CONTACT: Justin Moss - Forward Air
JMoss@forwardair.com 404.362.8933
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