Business
Forward Air Corporation Provides Select First Quarter 2025 Updates
Expects Stronger Liquidity on Sequential Basis Estimates 1Q25 Consolidated EBITDA to Be Between $54 Million to $59 Million Estimates That Between 10% to 15%
About this update from Forward Air Corporation
[{"type":"text","content":"\nExpects Stronger Liquidity on Sequential Basis\n\nEstimates 1Q25 Consolidated EBITDA to Be Between $54 Million to $59 Million\n\nEstimates That Between 10% to 15% of 2024 Revenues Would Have Been Impacted by Recently Announced Tariffs\n\n GREENEVILLE, Tenn.--(BUSINESS WIRE)--\nForward Air Corporation (NASDAQ:FWRD) (the “Company”, “Forward Air”, “we”, “our”, or “us”) today reported preliminary financial results for the three months ended March 31, 2025 and an estimate of revenue from shipments that may be impacted by the tariffs under the International Emergency Economic Powers Act (“IEEPA”) order announced on April 2, 2025.\n\nFor the three months ended March 31, 2025, preliminary Consolidated EBITDA, a non-GAAP measure calculated pursuant to the Company’s Senior Secured Term Loan Credit Agreement (the “Credit Agreement”), is estimated to be between $54 million and $59 million.\n\nLiquidity at the end of the first quarter 2025 is expected to increase by approximately $10 million to $392 million compared to $382 million at the end of the fourth quarter 2024. Liquidity includes cash and cash equivalents and availability under the Credit Agreement.\n\nAfter reviewing the preliminary IEEPA details, the Company currently estimates that between 10 percent and 15 percent of its revenue in 2024 would have been from shipments directly transported under its control from the countries potentially impacted by the evolving landscape around the tariff increases announced on April 2, 2025. The Company is unable to estimate the potential tariff impact to shipments handled prior to being transported under our control, including in our Intermodal segment.\n\nFirst Quarter Earnings Release and Conference Call\n\nThe Company will release its first quarter 2025 earnings after the market closes on Wednesday, May 7, 2025, and hold a conference call to discuss those results at 4:30 p.m. ET. The Company’s conference call will be available online on the Investor Relations portion of the Company’s website at ir.forwardaircorp.com or by dialing (800) 267-6316, Access Code: FWRDQ125. A conference call replay will be available on the Investor Relations portion of the Company’s website at ir.forwardaircorp.com shortly after the call is completed.\n\nAbout Forward Air Corporation\n\nForward Air is a leading asset-light provider of transportation services acr...