Forward Air

Forward Air signed a non-binding letter of intent with one of its largest customers to continue providing services despite the customer's diversification plans. The company expects to secure at least 50% of the customer's roughly $250 million revenue for fiscal year 2025, with the possibility of retaining up to 75%. The agreement extends the contract term for the services received by at least two years; the transition to other providers is expected at the end of 2026 and during 2027. » Mere på de.investing.com

Forward Air shares fell about 6.2% intraday to $13.53. Investors are worried about roughly $1.69 billion in long-term liabilities and a leverage ratio of about 5.44x, a major customer that accounts for 12% of revenue and could rebid contracts, and the failure to find a buyer in the strategic review. The company is examining asset sales to ease the balance sheet, while a new national LTL network from Amazon and disappointing Q1 results are adding further pressure. » Mere på de.investing.com

Forward Air shares rose about 6% premarket to $13.97, extending the recovery from the 52-week low. Drivers include a technical rebound, speculative reports of interest from Amazon, and management’s program to sell non-core assets to reduce debt. Q1 2026 showed a clear operational improvement and positive free cash flow despite net charges, while the overall market environment is risk-on. The stock remains well below the 52-week high, so sentiment stays cautious. » Mere på de.investing.com