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A brief call was held yesterday after the US market closed between a management team made up of two former employees who lead struggling Forward Air and a handful of analysts.
The result?
Trust the “process.” What?
Trust the “process,” wherever it may lead forward (FWRD).
Stock market reaction?
FWRD is up +20% in after-hours trading, reaching $21…and our base case of just under $20 remains unchanged.
Despite all the recent ups and downs, net leverage has declined sequentially and has been fairly positive, while remaining within covenants (More…
