Forward Air Q3 net loss $34.2M, EPS loss $2.62; guides 2024 EBITDA $300-310M

FORWARD AIR CORP

2024-Q3 EPS reported -$28.95 revenue$1,841,416,000

Revenue $655.9M (+92% YoY), operating income $22.7M, net loss $34.2M (diluted EPS -$2.62 vs $0.25 prior year).
Consolidated EBITDA (non-GAAP) $77M in Q3 vs $81M prior quarter; FY2024 EBITDA guidance $300-310M.
Expedited Freight segment underperformed due to decrease in revenue per hundredweight from customer mix/pricing.
Liquidity $460M (up $15M QoQ); on track to capture $75M Omni synergies by Q1 2025.
New Chief Commercial Officer hired (starts Jan 2025) to lead commercial transformation.

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