Forward Air Corporation · NASDAQ:FWRD
Forward Air — Stephens Annual Investment Conference 2023
12 slides from Forward Air's conference presentation, Nov 14, 2023
Slide 1: Forward Air: Category Leader in Expedited LTL
Forward Air: Category Leader in Expedited LTL Stephens Annual Investment Conference November 14, 2023 Tom Schmitt, Chairman, President and CEO Rebecca Garbrick, Chief Financial Officer
Slide 2: Forward-Looking Statements
2 INTRODUCTION TO FORWARD Forward-Looking Statements Certain statements contained in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on Forward Air Corporation’s (“Forward”) expectations, intentions and project
Slide 3: Expedited LTL Built on Precision Execution
3 INTRODUCTION TO FORWARD Expedited LTL Built on Precision Execution • Founded in 1981, Forward Air began as an expedited ground alternative to air freight – offering customers a more reliable solution at a lower cost and with lower CO2 emissions • Over 40+ years, Forward Air has developed an expert
Slide 4: Expedited LTL to the Main Stage
INTRODUCTION TO FORWARD Expedited LTL to the Main Stage Continue our Grow Forward strategy. High value freight operated in a cleansed network. Price disciplined Operate the best Expedited LTL network in North America Turbocharge direct sales and make our service available for everyone Expand our Exp
Slide 5: Operating the Best LTL Network
5 INTRODUCTION TO FORWARD Operating the Best LTL Network Forward LTL has the lowest claims rate in the industry <0.1% • 55% lower than competitor 1 • 82% lower than competitor 2(1) • 89% lower than market Notes: 1. The cargo claims ratios of ODFL, SAIA and XPO are based on their publications shared
Slide 6: Ship Safe. Ship Fast. Ship Efficient.
Ship Safe. Ship Fast. Ship Efficient. 6 INTRODUCTION TO FORWARD
Slide 7: Expanding our Customer Base in a $15B Market
7 Expanding our Customer Base in a $15B Market Indirect Direct Indirect Direct A2A D2D SMB Other Direct Indirect Direct Indirect Direct Focus on Higher Quality Freight Strategic Pricing Clean, Efficient Network Expanded Customer Base $15B Market Size 2015 2021 2023 Customer Base Serviced Customer Ba
Slide 8: LTL Network Expansion
8 INTRODUCTION TO FORWARD LTL Network Expansion Alaska Hawaii Puerto Rico • Over 200 locations in the U.S., Canada and Mexico. One of the most extensive LTL networks in North America • Forward LTL 3-year terminal expansion plan: 30+ new terminals by 2026 • Low capital expenditures, predominantly com
Slide 9: Targeting Aggressive LTL Revenue and Margin Growth
9 Targeting Aggressive LTL Revenue and Margin Growth INTRODUCTION TO FORWARD $2.5B Company Revenue ~80% LTL Revenue (estimated 57% in 2023) <80% LTL Operating Ratio 2026 High-Level Targeted Outcomes:
Slide 10: Our Company DNA – Leading with Impact
10 Our Company DNA – Leading with Impact 1. We make our strategy real for everyone. We engage the entire organization in “Double Double.” 2. We operate as ONE. We remove silos and collaborate to identify and realize shared opportunities. 3.We look beyond our four walls. We learn from, and partner wi
Slide 11: Appendix
Appendix
Slide 12: Reconciliation of EBITDA
APPENDIX Reconciliation of EBITDA (Amounts in millions) For the Year Ended December 31, 2022 Net Income $ 193.2 Interest Expense 51 Income Tax Expense 67.6 Depreciation and Amortization 47.4 EBITDA 313.
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