0000912728-17-000050.txt : 20170427 0000912728-17-000050.hdr.sgml : 20170427 20170427091855 ACCESSION NUMBER: 0000912728-17-000050 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170427 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170427 DATE AS OF CHANGE: 20170427 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORWARD AIR CORP CENTRAL INDEX KEY: 0000912728 STANDARD INDUSTRIAL CLASSIFICATION: ARRANGEMENT OF TRANSPORTATION OF FREIGHT & CARGO [4731] IRS NUMBER: 621120025 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22490 FILM NUMBER: 17786514 BUSINESS ADDRESS: STREET 1: 430 AIRPORT RD CITY: GREENEVILLE STATE: TN ZIP: 37745 BUSINESS PHONE: 4236367000 MAIL ADDRESS: STREET 1: P.O. BOX 1058 CITY: GREENEVILLE STATE: TN ZIP: 37744 FORMER COMPANY: FORMER CONFORMED NAME: LANDAIR SERVICES INC DATE OF NAME CHANGE: 19930928 8-K 1 form8-kq12017stats.htm FORM 8-K STATS Document



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
________________________

FORM 8-K
______________
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 27, 2017 (April 27, 2017)

 
FORWARD AIR CORPORATION
(Exact name of registrant as specified in its charter)

Tennessee
 
000-22490
 
62-1120025
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
Identification No.)

1915 Snapps Ferry Road, Building N
Greeneville, Tennessee

 
 
37745
(Address of principal executive offices)
 
(Zip Code)
 
Registrant's telephone number, including area code: (423) 636-7000
Not Applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o





SECTION 2.  FINANCIAL INFORMATION.
 
Item 2.02.  Results of Operations and Financial Condition.
 
Attached as Exhibit 99.1 are certain historical operating statistics for each quarter ended from March 31, 2015 through March 31, 2017. Certain reclassifications have been made to the prior period statistics to conform to the current year presentation.

The information in this Item 2.02, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

SECTION 9.  FINANCIAL STATEMENTS AND EXHIBITS.
 
Item 9.01.  Financial Statements and Exhibits.
 
(d) Exhibits. The following exhibit is being furnished as part of this Report.
 
No.
 
Exhibit
99.1
Forward Air Corporation Historical Operating Statistics.







  SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
 
 
FORWARD AIR CORPORATION
Date: April 27, 2017
 
By: 
/s/ Michael J. Morris
 
 
 
Michael J. Morris
Chief Financial Officer, Senior Vice President and Treasurer

 
 


 

 




EXHIBIT INDEX
 

No.
 
Exhibit
99.1
Forward Air Corporation Historical Operating Statistics.






 EX-99.1 2 exhibit991q12017fahistoric.htm EXHIBIT 99.1 Exhibit


Forward Air Corporation
 
 
 
 
 
Historical Operating Data - Unaudited
 
 
 
 
 
 
 
 
 
 
 
 
2015
 
March 31
June 30
September 30
December 31
Average
 
 
 
 
 
 
Expedited LTL
 
 
 
 
 
Average linehaul pounds per week (1)
 
 
 
 
 
   (in thousands)
41,262

50,803

48,208

48,530

47,224

Number of terminals - Company-operated
74

74

73

72

74

Number of terminals - agent
17

17

17

19

17

Number of terminals - total
91

91

90

91

91

Average tractors - Company
307

271

265

332

294

Average leased tractors - Company
72

73

73

66

71

Average leased straight trucks - Company
22

22

22

19

21

Average tractors - owner-operator
1,344

1,145

1,090

1,030

1,152

Average tractors - total
1,745

1,511

1,450

1,447

1,538

Average trailers
3,731

3,669

3,660

3,924

3,746

Average leased trailers
1,057

1,012

1,015

1,089

1,043

Average trailers - total
4,788

4,681

4,675

5,013

4,789

 
 
 
 
 
 
Pool Distribution
 
 
 
 
 
Number of terminals - Company-operated
19

20

20

20

20

Number of terminals - agent
10

9

9

9

9

Number of terminals - total
29

29

29

29

29

Average tractors - Company
65

62

62

64

63

Average leased tractors - Company
—

—

7

45

13

Average straight trucks & vans - Company
156

180

177

159

168

Average leased straight trucks - Company
15

16

24

23

20

Average tractors - owner-operator
91

87

82

104

91

Average straight trucks & vans - owner-operator
81

100

118

126

106

Average tractors - total
408

445

470

521

461

Average trailers
126

126

126

73

113

 
 
 
 
 
 
Truckload Premium Services
 
 
 
 
 
Average tractors - Company
83

72

84

84

81

Average tractors - owner-operator
242

298

378

395

328

Average tractors - total
325

370

462

479

409

Average trailers
96

122

122

119

115

 
 
 
 
 
 
(1) Includes pounds associated with linehaul shipments only.
 
 
 
 





Forward Air Corporation
 
 
 
 
 
Historical Operating Data - Unaudited
 
 
 
 
 
 
 
 
 
 
 
 
2016
 
March 31
June 30
September 30
December 31
Average
 
 
 
 
 
 
Expedited LTL
 
 
 
 
 
Average linehaul pounds per week (1)
 
 
 
 
 
   (in thousands)
44,041

47,346

46,010

48,579

46,486

Number of terminals - Company-operated
72

72

72

72

72

Number of terminals - agent
19

19

19

19

19

Number of terminals - total
91

91

91

91

91

Average tractors - Company
330

294

277

244

286

Average leased tractors - Company
62

30

30

32

39

Average leased straight trucks - Company
17

1

1

1

5

Average tractors - owner-operator
1,020

989

960

958

982

Average tractors - total
1,429

1,314

1,268

1,235

1,312

Average trailers
2,881

3,098

3,490

3,471

3,235

Average leased trailers
1,012

1,011

1,059

818

975

Average trailers - total
3,893

4,109

4,549

4,289

4,210

 
 
 
 
 
 
Pool Distribution
 
 
 
 
 
Number of terminals - Company-operated
20

19

19

19

19

Number of terminals - agent
9

9

9

9

9

Number of terminals - total
29

28

28

28

28

Average tractors - Company
64

67

67

67

66

Average leased tractors - Company
45

19

30

29

31

Average straight trucks & vans - Company
151

146

142

140

145

Average leased straight trucks - Company
23

72

78

79

63

Average tractors - owner-operator
91

84

84

89

87

Average straight trucks & vans - owner-operator
118

118

141

152

132

Average tractors - total
492

506

542

556

524

Average trailers
73

73

73

73

73

 
 
 
 
 
 
Truckload Premium Services
 
 
 
 
 
Average tractors - Company
84

84

83

83

84

Average tractors - owner-operator
360

329

336

314

335

Average tractors - total
444

413

419

397

419

Average trailers
1,341

1,247

1,301

1,328

1,304

 
 
 
 
 
 
Intermodal
 
 
 
 
 
Shipment count
29,401

30,004

33,948

34,363

31,929

Number of Locations - company
13

13

13

13

13

Number of Locations - agent
—

—

—

—

—

Number of Locations - total
13

13

13

13

13

Avg. tractors-company
—

—

24

24

12

Avg. leased tractors-company
87

87

84

87

86

Avg. leased straight trucks - company
6

6

6

6

6

Avg. tractors-o/o
371

340

405

398

379

Avg. tractors-total
464

433

519

515

483

Avg. trailers & chasises
30

30

30

30

30

Avg. leased trailers & chasis
28

28

28

46

33

Avg. trailers - total
58

58

58

76

63

 
 
 
 
 
 
(1) Includes pounds associated with linehaul shipments only.
 
 
 
 




Forward Air Corporation
 
Historical Operating Data - Unaudited
 
 
 
 
2017
 
March 31
 
 
Expedited LTL
 
Average linehaul pounds per week (1)
44,254

   (in thousands)
 
Number of terminals - Company-operated
72

Number of terminals - agent
19

Number of terminals - total
91

Average tractors - Company
199

Average leased tractors - Company
98

Average leased straight trucks - Company
40

Average tractors - owner-operator
953

Average tractors - total
1,290

Average trailers
3,246

Average leased trailers
840

Average trailers - total
4,086

 
 
Pool Distribution
 
Number of terminals - Company-operated
19

Number of terminals - agent
9

Number of terminals - total
28

Average tractors - Company
67

Average leased tractors - Company
29

Average straight trucks & vans - Company
134

Average leased straight trucks - Company
79

Average tractors - owner-operator
81

Average straight trucks & vans - owner-operator
156

Average tractors - total
546

Average trailers
542

 
 
Truckload Premium Services
 
Average tractors - Company
83

Average tractors - owner-operator
325

Average tractors - total
408

Average trailers
1,336

 
 
Intermodal
 
Shipment count
34,754

Number of Locations - company
13

Number of Locations - agent
—

Number of Locations - total
13

Avg. tractors-company
23

Avg. leased tractors-company
88

Avg. leased straight trucks - company
6

Avg. tractors-o/o
377

Avg. tractors-total
494

Avg. trailers & chasises
30

Avg. leased trailers & chasis
46

Avg. trailers - total
76

 
 
(1) Includes pounds associated with linehaul shipments only.