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Forward Air Corporation entered into a non-binding memorandum of understanding with one of its largest customers to…
FWRDForward Air Corp
Forward Air Corporation entered into a non-binding memorandum of understanding with one of its largest customers to mitigate the impact of the customer's service transition to other providers. The agreement expects the company to retain at least 50% of the approximately $250 million in revenue attributable to that customer for fiscal year 2025, with a potential to retain an additional 25%. The contract term for the retained services is extended for at least two years. Forward Air is an asset-light provider of transportation and logistics services across North America and Latin America.