FW: Forward Air’s new long-term targets don’t include Omni

FREIGHTWAVES reports:

Forward Air announced new financial targets Tuesday and reiterated plans to primarily focus on the premium less-than-truckload market going forward. However, its new forecasts didn’t include freight forwarder Omni Logistics, which it made a bid to merge with in August.

Forward (NASDAQ: FWRD) is forecasting consolidated annual revenue of $2.5 billion by 2026 compared to just under $2 billion last year and implied guidance of $1.67 billion for 2023. That represents nearly a 15% compound annual growth rate over the three-year period from this year’s depressed level. Of that, 80% is expected to be generated by its LTL segment compared to an estimate for a 57% contribution this year.

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