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Forward Air Corporation Reports First Quarter 2024 Results

Retrieved on: 
Thursday, May 9, 2024
Trucking, Transport, Logistics, Supply Chain Management, Other Transport, Table, Last, Partnership, Pressure, Acquisition, Face, Growth

Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”) today reported financial results for the three months ended March 31, 2024 as presented in the tables below on a continuing operations basis (Final Mile is being reported as a discontinued operations).

Key Points: 
  • Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “Forward”, “we”, “our”, or “us”) today reported financial results for the three months ended March 31, 2024 as presented in the tables below on a continuing operations basis (Final Mile is being reported as a discontinued operations).
  • Recently appointed Chief Executive Officer Shawn Stewart, said, “It is a privilege to be leading Forward during this pivotal time.
  • To that end, we look forward to sharing our full year 2024 guidance and our path to achievement on our second quarter earnings call.”
    Rebecca J. Garbrick, Chief Financial Officer, said, “Our first quarter results did not meet our expectations.
  • Omni's first quarter results were more adversely impacted as a result of its exposure to the international freight market.

Hoag Empowers Hundreds of Employees to Participate in the Hoag OC Marathon

Retrieved on: 
Thursday, May 2, 2024
Last, Health, Wellness, Partnership, Orange County Fair, Nursing, Physician, OC, Running, Medicine

NEWPORT BEACH, Calif., May 2, 2024 /PRNewswire/ -- Team Hoag is coming out strong with more than 300 employees ready to participate in the Hoag OC Marathon Running Festival taking place May 3-5, 2024.

Key Points: 
  • In Hoag's first year as title sponsor, more than 300 Hoag employees will participate in the Hoag OC Marathon running events May 3-5, 2024
    NEWPORT BEACH, Calif., May 2, 2024 /PRNewswire/ -- Team Hoag is coming out strong with more than 300 employees ready to participate in the Hoag OC Marathon Running Festival taking place May 3-5, 2024.
  • Our sponsorship of events like the Hoag OC Marathon aligns perfectly with our mission to promote holistic health and well-being."
  • The Hoag OC Marathon will kick off with a two-day Health and Fitness Expo at the OC Fair & Event Center on May 3rd and May 4th.
  • For more information about the Hoag OC Marathon or to register, please visit ocmarathon.com.

Uber Freight Bolsters Executive Team with Industry Veterans Dan Annunziata and Hany Elkordy to Drive Market Expansion

Retrieved on: 
Wednesday, April 3, 2024
Last mile, Convoy, Truckload shipping, Growth, Amazon, Transport, LTL, Business, Magic, Small business, Commercial, Head, Intermodal transport, Heart, 3PL, Last, Amazon (company), Norfolk Southern Railway

Joining the Uber Freight family Dan Annunziata, appointed as Head of Commercial, and Hany Elkordy, assuming leadership of the Last Mile division.

Key Points: 
  • Joining the Uber Freight family Dan Annunziata, appointed as Head of Commercial, and Hany Elkordy, assuming leadership of the Last Mile division.
  • “Uber Freight has a compelling value proposition for shippers of all types; long gone are the days of the perceived digital startup,” said Dan Annunziata.
  • In his new role at Uber Freight, Hany will spearhead parcel modality enhancements and expansion, working closely with product, operations, and technology teams.
  • “Uber Freight is uniquely positioned to expand its logistics solutions into the Final Mile space,” said Hany Elkordy.

MercuryGate Named as a Challenger in the 2024 Gartner® Magic Quadrant™ for Transportation Management Systems

Retrieved on: 
Thursday, April 4, 2024
Professional Services, Logistics, Supply Chain Management, Sustainability, Convenience Store, Fleet Management, Packaging, Chemicals, Plastics, Automotive, Manufacturing, Home Goods, Trucking, Rail, Maritime, Air, Transport, Data Analytics, Supermarket, Online Retail, Software, Discount, Variety, Department Stores, Environment, Electronic Design Automation, Food, Beverage, Data Management, Cosmetics, Technology, Retail, Artificial Intelligence, Completeness, Magic, Intelligence, Last, Transportation management system, TMS, Research, First, Build automation, Carbon, Workflow, Publication, Transport law, Atmosphere, Machine learning, ETAS, MAGIC, Magic Quadrant, System integration

MercuryGate® International, Inc. , (MercuryGate) the largest dedicated transportation and logistics management solutions provider, has been recognized in the Challengers Quadrant for its Ability to Execute and Completeness of Vision in the recently released Gartner® Magic Quadrant™ for Transportation Management Systems report.

Key Points: 
  • MercuryGate® International, Inc. , (MercuryGate) the largest dedicated transportation and logistics management solutions provider, has been recognized in the Challengers Quadrant for its Ability to Execute and Completeness of Vision in the recently released Gartner® Magic Quadrant™ for Transportation Management Systems report.
  • The reviews are provided by current customers on their usage and implementation experiences with MercuryGate’s Transportation Management System (TMS) platform.
  • Gartner, Magic Quadrant for Transportation Management Systems, Brock Johns, 27 March 2024.
  • Gartner, Gartner Peer Insights ‘Voice of the Customer’: Transportation Management Systems, Peer Contributors, February 2023.

City State Entertainment Rebrands to Unchained Entertainment, Readies Reveal Of Next-Gen Game Development Engine

Retrieved on: 
Thursday, February 29, 2024
Entertainment, Technology, General Entertainment, Online, Mobile Entertainment, Software, Electronic Games, Dark, Destiny, BioWare, Mythic Entertainment, Warhammer, Player versus environment, Steam, General partnership, City, Video, Warner Bros., Publishing, Lauder family, Camelot Unchained, Final, Ragnarök, Element, Early access, THQ, Last, Dark Age of Camelot, Science, Lord, Unchained, Mark Jacobs (game designer), Video game

Led by video game industry veteran Mark Jacobs, City State Entertainment has rebranded to Unchained Entertainment.

Key Points: 
  • Led by video game industry veteran Mark Jacobs, City State Entertainment has rebranded to Unchained Entertainment.
  • The company is readying the official launch of Early Access for Final Stand: Ragnarok, a multiplayer, co-op PvE hack and slasher action game.
  • Powered by Unchained Engine, the game will be able to support scenarios such as swarm-based PvE action, PvEvP extraction, as well as Battle Royales of unprecedented-scale in any combination.
  • “The Unchained Engine is realizing a dream I’ve been obsessing over for more than 30 years,” said Mark Jacobs, President and CEO of Unchained Entertainment.

Forward Air Corporation Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, February 28, 2024
Trucking, Transport, Logistics, Supply Chain Management, Other Transport, Last, Acquisition, Interim, Table, Growth, DNA, Forward

Michael Hance, Interim Chief Executive Officer said, “Execution of our revenue growth strategies in the fourth quarter led to positive volume trends and improved freight quality metrics.

Key Points: 
  • Michael Hance, Interim Chief Executive Officer said, “Execution of our revenue growth strategies in the fourth quarter led to positive volume trends and improved freight quality metrics.
  • A continuation of the challenging market conditions led to decreased customer demand for our intermodal and truckload brokerage services throughout the fourth quarter.
  • For the fourth quarter, we are pleased to share our on-time service performance was 98% and our cargo claims ratio was 0.09%.
  • We plan to regularly reevaluate our approach to guidance and to provide updates on key milestones and achievements.”

J.B. Hunt Transport Services, Inc. Reports U.S. GAAP Revenues, Net Earnings and Earnings Per Share for Both the Fourth Quarter and Year Ended December 31, 2023

Retrieved on: 
Thursday, January 18, 2024
Trucking, Rail, Maritime, Air, Logistics, Supply Chain Management, Transport, Other Transport, Transcontinental, Overalls, JBI, Average cost, ICS, Share repurchase, Dray, Insurance, J. B. Hunt, DCS, JBT, Sale, CST, JBHT, Acquisition, Internet, Operating cost, FMS, Last, Video game

Operating income for the current quarter decreased 28% to $203.3 million versus $281.9 million for the fourth quarter 2022.

Key Points: 
  • Operating income for the current quarter decreased 28% to $203.3 million versus $281.9 million for the fourth quarter 2022.
  • In addition, fourth quarter 2023 included a $15.0 million net increase in loss on sale of equipment compared to the prior-year period.
  • Net interest expense in the current quarter increased primarily from higher interest rates and a higher average outstanding debt balance compared to fourth quarter 2022.
  • Fourth Quarter 2023 Segment Revenue: $1.62 billion; down 7%
    Fourth Quarter 2023 Operating Income: $129.9 million; down 28%
    Intermodal volume increased 6% over the same period in 2022.

Life Time Foundation Investing in Local Community Impact During Miami Marathon Weekend January 27-28

Retrieved on: 
Friday, January 12, 2024
Learning, Volunteering, Finish line, Science, Athlete, LTH, Healthy Planet, Line, Environment, Education, STEAM, Miami Marathon, Chicago Half Marathon, Garbage, Lifetime, Last, Tourism

CHANHASSEN, Minn., Jan. 12, 2024 /PRNewswire/ -- The Life Time Foundation, a 501(c)(3) nonprofit created by Life Time Inc. (NYSE: LTH), is committed to supporting initiatives that inspire Healthy People, a Healthy Planet, and a Healthy Way of Life.

Key Points: 
  • During the Life Time Miami Marathon And Half weekend (January 27-28), the Life Time Foundation is leading efforts to enhance the local community.
  • Initiatives include:
    January 27: The Life Time Foundation is collaborating with Clean Miami Beach by bringing volunteers and funding the efforts to clean up Nikki Beach.
  • Clean Beach Miami is dedicated to keeping the local community and natural habitats free of garbage and harmful pollutants with primary focus on single-use plastics.
  • All participants will receive a hard-earned medal upon crossing the Finish Line in downtown Miami alongside thousands of marathon and half marathon adult participants.

Magaya Announces Double-Digit Growth in 2023, Driven by Innovation and Partnerships

Retrieved on: 
Wednesday, January 10, 2024
FedEx, Heart, AWB, Corporation, Partnership, Magaya Corporation, UPS, Element, Thoughtworks, AWS, UI, Final, USPS, Automation, Last, Magaya, Courier, Growth, Video game

MIAMI, Jan. 10, 2024 /PRNewswire-PRWeb/ -- Magaya Corporation, the leading provider of logistics and supply chain automation software, today announced a notable close to fiscal year 2023 with double-digit annual revenue growth supported by ongoing advancements to its technology platform and its expanding partner network.

Key Points: 
  • Released Insights by Magaya, a powerful business intelligence solution and data warehouse for Magaya Supply Chain.
  • Released updates to Magaya CRM supporting multiple Magaya Supply Chain instances, adding new reporting capabilities, and more.
  • A fundamental contributor to the company's growth in 2023 was the Magaya Partner Ecosystem, a diverse program welcoming international partners.
  • And while disruption can be stressful, it also creates a rich terrain for innovation," reflected Gary Nemmers, Magaya CEO.

Forward Air Announces Sale of Final Mile Business

Retrieved on: 
Wednesday, December 20, 2023
Trucking, Air, Transport, Logistics, Supply Chain Management, Hub Group, Last, Sale, Corporation, M&A, Management

Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is pleased to announce the sale of its Final Mile business to Hub Group, Inc. for an estimated total cash consideration of $262 million.

Key Points: 
  • Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is pleased to announce the sale of its Final Mile business to Hub Group, Inc. for an estimated total cash consideration of $262 million.
  • For the twelve months ended September 30, 2023, Final Mile generated approximately $289 million in revenue.
  • Final Mile has approximately 45 locations and more than 640 employees that will transfer to Hub Group, Inc.
    Tom Schmitt, Chairman, President, and CEO said, “Our Final Mile business grew revenue over 150% since inception in 2019 and returned significant value to Forward’s employees, customers and shareholders.
  • Corporate clarity remains a top priority as we enter the next phase of our Grow Forward strategy.”
    Phil Yeager, President and CEO of Hub Group, stated, “We are excited to welcome the Forward Final Mile team to Hub Group.