FWRD - Earnings call transcript Q3 2024

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Operator

Welcome to Forward Air's Third Quarter 2024 Earnings Conference Call. [Operator Instructions]. I would now like to turn the call over to Tony Carreno, Senior Vice President, Treasury and Investor Relations. Please go ahead.

Tony Carreno

Thank you, operator, and good afternoon, everyone. Third Earnings Air's Call. Forward to Quarter Conference XXXX Welcome Chief are and With afternoon Stewart, Executive Officer. us this Financial Shawn Officer; Chief Jamie Pierson, Forward the SEC should press Form X-K. results, you received on was Air's announcing which to now, XXXX third furnished By also quarter have release a

Air's We filed accessible section presentation slide for presentation call are a at outlining results Relations quarter XXXX website and have any press business Forward release the also on of Investor highlights update. slide third Both forwardair.com. the this

Please known that release statements matters expressed regarding statements are not forward-looking performance, guarantee facts, and future the by differ of that future announcement statements projections which of Reform those actual materially in and results and could our such the or to cause implied statements, events based are anticipated includes fiscal to unknown Litigation historical the are are and are within other and be regarding XXXX. These other factors call Act on certain the statements. a aware This and intentions trends from including company's of performance Private Securities forward-looking that or company's on risks, earnings the statements uncertainties not XXXX. year meaning conference expectations, subject

forward-looking concerning as result future otherwise, are the undertakes Listeners reliance the release by obligation call. unless company call. information, and press to forward-looking on no whether events please For refer date relating as Securities speak and Commission a any of update required the statements, to not these these earnings factors, this information new risks or and law. place of the slide which only additional Exchange of our to filings The and statements, with cautioned to undue presentation

Generally and to most are our press internally a uses make slide may business understand, be manage operating GAAP decisions. or Accounting conform do that direct not reconciliations of there evaluate of to and included to call, Management their presentation. non-GAAP measures comparable the During measures non-GAAP today's metrics Definitions Accepted release and financial U.S. in Principles, discussion also GAAP. and these measures

turn now call Shawn. will the over I to

Shawn Stewart

Good everyone, call joining for today. you the and afternoon, thank

Omni acquisition time, and has combine closed their ago since working of strengths combined X that diligently Air's been our logistics roughly months individual team into one Forward powerhouse. to

is it months a you long about when back While and step seem that may time, it. think X

I complete employing utilizing are as We operational on services support approximately enterprise of back-office say domestic networks the would substantially and point, integration different many a global professionals committed. systems. the and providing different the vantage originally savings my X,XXX delivering From and

attention my my I and first Forward had turning quarter get on omni my the board, broader to around transformation. Jamie I full the have complete, am arms integration. now the with to And time With

is to Please waver be we from Our to company, with transform forwarding service. provider that transformation, objective one ground to and award-winning in services spanning will one international commitment expedited LTL brand to domestic freight the open our businesses. great years solution not one network. through remain remember go-to relied have they and all legacy service our customers including providing of We for customers, forwarder our grow our same our the for to solutions freight through to with on committed their best-in-class freight customers providing especially

logistics ground, vertically world. brokerage ocean, integrated the company, air, process. IT all established transformation framework be to and across transformation recently the go be contract effectively rationalization and product-focused a as to establishing The execute to end, The will office will office and for of transformation result will of us market have the and efficiently a services the we company. that To management providing include customs system this company. operations-driven focus to areas around lead The a the

know we it and over vision time. we a have can achieve We

While demand the when the are one, enterprise our the each multitude not the work a do will normalizes. not demand planning take and That It advantage the on work ourselves but and workforce to heavy of market services time as X, company X, systems to focus act that systems, different the of for systems moving dedicated integrating with for from and to values that intense ranges same same stack. to scenes includes were goals, lifting integrated our and we the our the the market serving to XX system companies think resource policies from transportation challenging, same same previously enable broader availing harmonizing different the that one not TMS behind will HRIS and of remains and tech position also multiple the as the mission, XX, customers. Omni

expect their lose and We will the our certain complete am on substantially structure. confident achievable and and before focus not we magnitude current that integration is this may of into customer the us into needs. continue well this the that but XXXX, work complexity is it will put XXXX I streams with work

add company the for pricing. traditionally about along best-in-class along with service. customer and their opportunity way. solutions, Both the known excited to value been want Customers they are on, competitive to depend have the can We service companies

solutions. is Operationally many of to their in chain provide. the services best-in-class spirit we global building supply and objective exceed Our the with expectations

and worldwide. with ocean service. Santiago, enabling our Colombia offer in year. expanding These station examples and third America. are logistics security This our Miami. Miami. Chile of along Airport International into of gateway goes America opened freight providing in to earlier our facility will new and receive the Bogota, with as facility warehouse opening expansions and South our in ensures commitment services Central direct this in and both This us and positioned air out presence quarter, South America, our a of of offices Latin the the to solutions During Miami This state-of-the-art of location and customers access level easy Port for the is highest we that serve export to and This strategically import

Turning and focused for level we to compared to The more and Expedited surcharge, much short profitability volume not that be of fell on to In mix than acquisition profitability. excluding third its on primarily and the the to fuel decrease results. we was of class-based focused to prior service segment customer I pricing year-over-year A quarter freight revenue to primarily second Omni of thereof. the am the charge enough quarter the sequentially did the too hundredweight, legacy and positive place maintained lateral in due that pricing direct, were provide. per improved a not attributable Freight satisfied segment business and XXXX. quarter associated short in strategy results Inversely, with the put financially. expectations momentum

into of mix addressing are and We focused this on the getting the network. are issue right freight

To long-term strategy puts and a company onboarding customer January to soon new expect will announce on the well that of that CCO stage freight us once laid experience that have of key Chief for excited leadership market the has best XX years with over sales world improves. we and this our Officer the around service Adding is execute in incredibly out. we global like growth diversified in a base provider him that be position a global am others XXXX. a individual and versed The I we strategy the is to are, who the Commercial in befitting new starting now be with

at some I'll go closing the the it that, through give we'll and to the over for With end, Jamie turn comments now results to quarter.

Jamie Pierson

a increase the and the $XXX to Shawn, on year a to over for increase revenue XXXX, was million Since the the results, and did the we'll good afternoon, for Omni year. our our it compared third quarter Beginning quarter $XXX sequential as with prior segment Thanks, basis, reporting difficult so third make everyone. meaningful largely Omni we required year-over-year or of own in driven million, not focus prior the it quarter was was basis. comparisons is to third quarter the a transaction. GAAP Omni The comparison, obviously a by XX% of

$XXX increased the last that quarter. million or a basis, more million To and to revenue quarter and on consolidated million $XXX point, X% sequential $XX from comparative this

for $XXX increase X% decrease follows. million from in year-over-year X.X% Looking per quarter increase by shipment reporting previous per shipments including a per revenue a in comparable by weight X.X%. year's driven The segments, of as surcharge at a $X offset Revenue partially and The to revenue day were to fuel the million. or increased year Expedited, was primarily decrease was from hundredweight, X Omni in increase $XXX ago. compared Intermodal and X.X% million of and our Expedited a

quarter revenue $XXX reported The second year. began diverting East million. compared results, comparable International by in year million at million of not to ahead which were X% a from Longshoreman the X.X% a of or of from was decrease quarter $XXX year's on decreased million increased Revenue shipments year's revenue Omni's previous compared the the some The increase from comparable segment ago $XX a third the previous the in Coast. million quarter basis, full as customers the Intermodal million. sequential Strike to X% $XX primarily driven or Omni to included quarter this was $X On less potential the freight $XX

from for $XX ago. the quarter to operations a million compared Income million third the year $XX was

the basis, consolidated of reported on EBITDA, for consolidated EBITDA million quarter. second reported $XX quarter of first for reminder, in the the $XX a defined we quarter. agreement, credit our $XX this million As as in and comparable year million as And a we in

in his last in was previous this have the the million. by EBITDA in months quarter the is the primarily which September million Adding introductory for expedited EBITDA noted $XX the for decrease segment, XXXX, the comments, consolidated ending we driven quarter quarters, subsequently consolidated XX, addressed. Shawn $XXX As third XX to X

quarter. Cash $XX liquidity. positive increased million $XX for loss cash provided previous from to million third operating quarter $XX million the quarter's Turning by this activities to and the a

transaction our million, than $XX with the issued result activities of million was release, the As at or adding illustrated quarter cash total this increased quarter. approximately costs $XX the second another slide million $XX availability end liquidity of $XXX Page a what from operating payments. quarter, XX the with we and cash facility, million of under legacy therefrom, earnings the higher quarter $XXX a of last professional increase Primarily reported million today's the ended million $XXX million credit revolving cash as was $X from consumed fees the of improvement and on is interest million and which we the quarter presentation to from of $XXX for

is And with as on usual, which I quarter, the few the integration. a leave first update of our an status for of the will you parting shots

on of savings are tracking we million that of the to to knows, first have run everyone continued Two, and report is rate. And focus been next to end reach of slightly we by As expect our $XX year. quarter the in the guiding that and company's I'm liquidity of level in debt ahead the pleased most annualized expenses, In importantly, operations plan the cash of an which costs, expenses, transaction was more that the was by focus. balance of first integration results none or the paydown consumed other and investment future. benefited principal XXXX, half of

on in be quarter lower $XX when As million continue our the neutral they which flow previous any the the quarter our total of runway cash to we inflating journey and year. I $XXX this third to and second tailwinds phase balance it cash call, position occur. heels expect well give expenses, quarter operating as see of ample in us the on by us million increased increased of transformational transaction-related discussed cash you earnings should can the macro for or to positive to liquidity And we and fourth improved over flow

become the This approximate LTM proudness. an fortify of to not the consider employees, all cash this maximum while our gross at of noted of be stability our even at and this, to complexity one of end the and unrestricted customers, most not EBITDA end would $XX operations to I as importantly, consolidated third fortifying transformations And service to and Xx. quarter. that balance have planning level while of our domestic have we did EBITDA cash, debt was compared the Thirdly, debt [indiscernible] our to after And the long-term focus million as cushion Shawn linear, and on ourselves consolidated liquidity. I losing quarter move X.Xx the of they netting on accustomed increasing that based and net ultimately, a are our previously quarter implies

third us, updating guidance. Finally, full with quarter our the year XXXX behind are we

million from As macro before the XXXX our previous million no everyone knows, $XXX to guidance remains I we million with $XXX There's the the and many risks Consequently, near-term to going $XXX too environment much say $XXX us. too are muted full macro on. ahead EBITDA you much catalysts. million ask, consolidated year to in that we are absolutely There's of environment, guidance. more than I but going uncertainty see XXXX not give opportunities to would updating

my With that X over the comments to of pass light, Q&A. back before points mic Shawn I as will for now closing

Shawn Stewart

excited you, The Lorrain. to down I transportation October experience have from for recently announced Craig Jerome to company years effective Directors him Thank Board Jerome Board in with want to the industry. The Board XX, in of decided Jamie. logistics to company. that step after thank the XXXX, Craig join XX the X his us. announced also I extremely are the to Carlock appointment years. of the service We addition and has over and of

to of continue board caliber the are closing independent of assembling both am be X we levels. of of since the XX I Following talent whom been and the will these the Omni appointed of and management Board energized directors, by are whom XX and changes, comprised quality transaction. the have at

actively major team focus, all results can this and best the pursues we forward shareholder the Execution I am am the are ensure a know the path analyzing company fielding is enhance and the strategy value. confident through remains deliver possible we Together, that to to combination. that that I business

we plainly, put and we the We will can the we team identified. control focus keep have on have our and plan what it

against execute we Now to just need it.

We investor ask questions. speculation addressed to be Finally, going of Q&A of the your or we any in our to comment speculation. activity media not recent rumors that the want would the X, as release acknowledge so press this you and October on you are I on respectful call. formulate that, portion We during

Operator? turn now questions. the call the to to will take I operator

Operator

questions. Stifel. coming Instructions] floor the Chan Our Bruce Sir, for from is now open [Operator question is first with

J. Bruce Chan

the take that announcement, Thanks, and sheet your operator and given any commentary, portfolio at of been rumor any balance take figured your of appreciate some current Shawn, sale you've afternoon your but good guys. on to I'd liquidity position? managed disclaimer given cash updates stab the your had that prior maybe potential individual on changes a just to position discussed where pieces

Jamie Pierson

Bruce, this take I'll Jamie. that. Yes. is

we through prior XX are We that to to still in of companies would the to anything have that. that. I basis. differently, say that public premature announce premature consider was there's we too say announce say transaction. on I there's what still the that -- that There's analysis We're to piece that anything we Omni could decided working to a that It's too

now, one undergoing this absolutely. right those the or that and to let noncore groups when get to are future to or it's point know. going where we to we're to we premature. for certainly business But Now still we'll decide those If of sell of analysis assets, a you too divisions

J. Bruce Chan

my Okay. maybe for here. That's just then And fair enough. follow-up

network that takes of put unwinding puts in the through us was It that. talked you're you program the like walk the sounds LTL, place class-based and about yield know acquisition. before maybe process the could the freight of you I If in progression in

maybe If what you could like long expect give us that process color to how that some just looks you take? and on

Shawn Stewart

Yes, Bruce.

offer ultimately So conclusion came QX, we've studying and this did QX became I aware of to due still really the it impact -- class-based in in will the that of been diligence we of first end a rate.

basis. However, do a on traditional to we're LTL going not like-for-like that price-reduced

tariff, need represent in But So need world-class our we pricing premium expedited we're we that to And do be that have respect willing to that. and customers didn't that network. of so.

service. the we traditional service a adjusting getting of and X they're that them we're on X doing X- where price to basis the that a what not of here really, XX-day provide So quality basis on to days LTL back is service to

J. Bruce Chan

So I the fourth program? pretty expecting quarter, are material from still guess when headwind think we that we a about

Shawn Stewart

percentage to the with it changes those just customers. of About, give changes I I had if around those would say, a on the based XX-XX, execution Bruce, in

Operator

We'll Stephanie from Moore Jeff. take our question with next

Joseph Lawrence Hafling

are a kind wanted respect network. down, some Joe And of how but operators that options. segments. ask to Moore, seeing I customers in wanted more economical maybe nice was to ask your discount about particular, Hafling the to across maybe on what to And hearing to I of air the quarter. your more cash choosing This trading in is in been wondering in freight, from that this the traditional question freight flow package various for sense Stephanie I premium think it's we've a business economical over-the-air it's and you're

additional on that as what move. would or wondering from any well. demand color be was forward anything I you airport-to-airport were in give seeing you [indiscernible] on customers pull And can at the So helpful

Shawn Stewart

your was comment just ready for to process little Well, freight, you let sitting and because I more me me question international maybe air on here a bit loop. threw a

don't -- So you're freight. talking don't I about question air why think again you ask are because international you your

Joseph Lawrence Hafling

trying offering had are tightening to freighting business with Yes. And offerings? a customers gravitate more terms offering is your solution LTL, of to the your tipping the how you in they're you economical we about towards that mean kind heard was as shippers traditional belt. economical that of more just curious look in air down that respect over to I I versus for think seeing

Shawn Stewart

Yes.

the So air. to best marketplace. very still our the be ground expedited say otherwise need I that guess premium to the a getting on to by serviced it unique way They're would is is offering service

quite service and hasn't X/XX. there been the time, since However, not capacity domestically for actually just is that some to

computing is And more we services see time need when that's you any really, value that higher for service as to the in for at, time much this look as continue us, prior if in you base market. to in just market disruption, telecom high-tech, just will. our high looking So to customer

when just put demand I the the the is What it would there. happens confidence spending. go the So back is really, situation see the still down, you with overall, volume in volume consumer to

not more for is down market the all. than So demand we're It's share. your it's that just losing overall volume that answer Does question?

Joseph Lawrence Hafling

And it an the any pull-forward piece, forwarding demand just on how much did. in how then there And of thoughts much international framing And yes, in XQ? had then impact on a is the [indiscernible]? Omni --

Shawn Stewart

demand is at whole probably all best is It's on There that -- in been see. now. the of up No. in not disruptions forward demand its airfreight pull The right a time. with lot ocean market international right quite I freight a there's of is it's And for now. air domain some freight, the more different

we really forward on basis. see. what pull But that's So a nothing

I think of to lot North we'll shift forward think more bit a in mid if I start a is will. and to stocking a early see more see 'XX more the of little traction Greater inventories you America, we'll

Jamie Pierson

Jamie. down is I -- add -- the to is said of shippers first think this question, terms to I'll more Joe, your something economical. you in which freighting

market. but because has that an shift be We air seeing that they're and right I expedited you're would if mean, same ground the a haven't to it, the positioned that very hope even to we're better, be a that's I going -- from going you're sometimes well seen in maybe time,

Operator

Research. We'll take with our Wolfe from Group next question Scott

Scott Group

for to Jamie, us out. ramp, QX. is fourth seasonality know step-up normal -- with quarter Is it's this business a hard that help decent the EBITDA what from

or Is that us of volume seasonality? EBITDA? that getting Just implied get what Is that is pieces synergies QX data to better? moving just to ramping? a So that are the view normal

Jamie Pierson

seasonality, normal just It's Yes. Scott.

else half best traditionally ask on We're know forecasting It's the that consider push would that Herculean I seasonal well this twitching of see November, our know you're October the anybody October. this in business December. back as November. I not the we about what You is question just month. usually And October and in is anything call, as how to

haven't Scott. We even closed it,

other it can the to begin we're that fourth can't nothing But that the than shaping even forecasting But hill how quarter, I math at looking climb. quarter is it's we there's do normal and speculate seasonality. what the all So is up. unique and for the see to to

Scott Group

And the million it $XX went Jamie, Okay. like looks That's $XX to from then, quarter. third helpful. depreciation second quarter the million in in

about going inflection think sustainability got quarter. we cash Just capital should How tailwind How explain that? in a then this side, depreciation working about cash in on the just flow like free third And we forward? looks of QX? the we decent do the think

Jamie Pierson

Yes.

lot much the I basis. quarter, from through D&A, noise, think question. you get the the probably once impairment is I on it true-up the more because is chance been There's the normalized say a into to see from $XX you're on ask going minus so number, XX to even [indiscernible] So But you'll another the around there there's a know plus normalized million, exact numbers. dig acquisition, volatility this Omni a I'd same goodwill Scott, still there of

those balance that on what is the our always and Scott, then is things, actively this working been And professionally of managing capital, one should is sheet. doing have we

So you'll improvement AR. see cash the from in

know probably again, the first You'll since AP. many confident the in Obviously, have accepting in next ability you line cash managing see one balance in that I'm years. quarter, to it we're this time just to it do we're as thing at going comes as But hold to year. our the the sheet that's came from that opposed to improvement for actively is,

Scott Group

to is be could go there cash? That an incremental source more So of there?

Jamie Pierson

on say day are it is going quarter. There here AR way. Every is, would way hard a $X in of every a the gains step I saw on own fought the minimis we fronts. again, here anticipating X we to terms that what [indiscernible] cash But legging money it's the out The Scott. were de million either going more out third a to I'm But be in not of wouldn't The I'm are much particular from REIT third repeat a be of quarter. treating not in guess, gains I be like our quarter. those than our done this of, singles,

Operator

Bascome from our with question Instructions] next Majors [Operator take We'll Susquehanna.

Bascome Majors

respect the of a to about talked on having room with You EBITDA. covenant bit

rate the do reduction I year and XQ? cushion Is in said ratio current at that the next your bit get accordion Or the is million that about see $XX think starts you down? feel to a ratio? tighter the comes that leverage you you assuming cushion. as of And little into how

Jamie Pierson

the The of Yes. of an quarter. is as this Bascome, end cushion, on LTM basis

that's not not a the That's actually guidance. That projection, that's forecast. end a third not So was at the quarter. of

it how I at Now terms look it the down, you the you the of accordion, step step will. if call in down, but do

that always me by covenants. keeping Let begin saying we're a close eye on our

only have guys ever else for know look anybody I background. than ensure to You if area in my probably in industry. we that this the ways provide we've more that looks proactively got macro And [indiscernible], in transformed flexibility experience direction. need the to the not still softness, you whatever in We headroom his it, we're remarks, the to the want also as heading company. have, but navigate freight to environment, said call Shawn the current right

to need got the on we it. now have plan right the right team, we've execute We

need not month X XX months I a better we our revisit be started covenants ago. I'm ago every XX-month X saying confidence I'd think process, were our months point, But and compliance it look, our in capabilities but to me which When we're clear, instituted search we're more days. performance goes and single imagination, just gosh, every forecast this I rolling I by. it's than infinitely as at forecasting there but gives

tend and we cushion, compliance. stay we're in had So to We to today. in compliance

Bascome Majors

for Thank that you Jamie.

Jamie Pierson

answer Yes, very to question. long-winded your

that. about Sorry

Bascome Majors

services. at ton information and with from a freight the Scott's us value-added on of maybe mix maybe one air, little Just of and traditional between seasonality. earlier, Can extending customs just and Omni not mix ocean follow-up, better international the you help a business understand question

making about Just cyclical opportunities and exposures there? thinking next and the about views risks own year into our

Jamie Pierson

Yes.

the So is wide. business, mix best owned of

Omni across a be spectrum, logistics brokerage. customs value-added whether you As we was the different services, XX know, air, whether collection providing brokerage, warehouse, companies have we it of ground, ocean, forwarding, services

its actually that company any is can so first hard we set stand so it's as on intend of XXXX, moving to particular into we the question. it's we So that important reporting the omni very this why side answer that KPIs, pin and quarter structure to to one of change which

what So basis, we'll warehouse, I final stand exploring be segments it but will it on is traditional, Bascome, more guess, ocean, customer or is the might we We're But the mix add spectrum logistics. in of still, into a the category. Omni logistics will its X ground in something be, air, entire that X, side. space. brokerage across the of other Those last an business

Operator

will from our Kuhn we Benchmark And take Company. Chris with question next

Christopher Kuhn

about of quarter, change the that bit last Shawn some Can network, all come there. they little Maybe you back? comers customers. about have and talked for for the the forward trends you legacy strategy quarter attrition the the them saw in the those a talk some left the you in of

Shawn Stewart

Mainly was trust. of forwarders were with us Yes, relation. seen and lack lot Chris, we've freight the and confidence really -- we a spend in of time where understanding XPLs

ultimately, existing So their hoping as see Air things, got into understand I think we very the much to helping listen with quite Forward I real deficit, basis alignment if coming And them saw is more we mode you in year-over-year this amount get trust market. significant went say I back would volume and about the which depressed a on will, a alignment, current overall customers. well as I a in. of volume being

of less with confidence overall do to and overall more lack just of just volumes has it down. So trust the to

service, whether haul hauls, short I service to versus So to I a a us an say, of to, more sessions a a on little opportunities it in out be enhance, enhanced cetera. to say lot around long but would that free had with them we've bit up times in flowing there, particular strategy of say, even cut for non-palletized more QX and/or market to it open further wouldn't freight et lot confidence

long directly of network. without it and it's as So core do opportunities them and to for of we're as a more for our inside them a box match much we how outside good us match exploring do the the good we even what too with think exposing of

we stand where building say, our would today, trust like all confidence see pleased to moving relationship even I with So in more forward. between of time and but would I still all, the I'm

Christopher Kuhn

And I the per per the know year-on-year. change fuel, in weight great. the ex were shipment the those think That's talked revenue you the then just and about hundredweight you Expedited as about LTL fuel. strategy actually revenue How up up business, both should we ex

should shift think going about those there? how you status we as So forward the

Shawn Stewart

Yes.

now, I [indiscernible] to this I Obviously, rate, I'll think class-based trend. what how rate-based I'm see right tariff. to on lit the mainly in you'll direct same don't much calling in change continue that know call action

will I So won't rates. with said reduced those with earlier, continue like we but we continue class,

have know will So will overall impact on go I'm that actually. to mix don't per shipment thinking but it I in weight the up what that continue

think So will a strategy impact I particular have there. don't negative that

Operator

We take Wolfe Scott Group Research. with from follow-up a will

Scott Group

I October color but any just and monthly October give the aren't you update an Just tonnage on tonnage? on can trends, know books closed,

Jamie Pierson

we Scott, give Yes, don't guidance. intra-quarter

yet. we So the even books haven't closed

going So October for an us. to be is month important

a I challenging merger and coming and think with combine challenging even we for of space crystal billion an market pretty a out more that everybody $X.X what given in the exogenous got ball. we're

soon you can, as it to we the with through be working we're and back So we'll results. best

Scott Group

in tonnage? monthly the throughout And what of terms about though, just QX, trends the

Jamie Pierson

We but shift guidance more from the the We're quarter guidance. any focused service I not Scott. product that the revisit in legal transformation would the give product those don't is integration. and differently, we're X And inter-quarter future, in to the give on still we're until we get start prioritizing and right things on entities the would start to focused We'll important base. on and piping and reporting address. the going And what say now, don't we the Yes, say completing guidance.

Operator

are further no for any turn the (sic) questions Mr. time. [ closing I'll Thank call at ] Stew back Stewart you. to there remarks. And this

Shawn Stewart

Thank right. All you.

place. So call updating thank year phone to I everyone the want activities on listen, for back the and forward to to are I everyone joining you end with the personally going transformational after that look the today, take and on of getting the

you. So to want and and of until year. holiday next happy season wish you forward to year talking blessed to one then, Thank every each you a and look a new I

Operator

Air's have Forward Earnings at disconnect time, XXXX wonderful a concludes this Please Call. Quarter and Third Conference your you, lines evening. and this Thank

Forward Air (FWRD) 4 Nov 242024 Q3 Earnings call transcript