Reported Earlier, Forward Air Revises Financial Metrics, Adjusts Consolidated EBITDA to $324M for FY24
Portfolio Pulse from Benzinga Newsdesk
Forward Air Corporation (NASDAQ:FWRD) has revised its Consolidated EBITDA for the twelve months ended March 31, 2024, from $300 million to $324 million. This adjustment lowers the company's First Lien Net Leverage Ratio from 5.5x to 5.1x. The company also expects an additional $20 million in EBITDA for Q2 2024 due to cost reduction actions.
June 28, 2024 | 7:10 am
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Forward Air Corporation has revised its Consolidated EBITDA for FY24 to $324 million, improving its First Lien Net Leverage Ratio to 5.1x. The company also expects an additional $20 million in EBITDA for Q2 2024 due to cost reduction actions.
The revision of Consolidated EBITDA to $324 million and the improvement in the First Lien Net Leverage Ratio to 5.1x are positive indicators for Forward Air's financial health. Additionally, the expected $20 million in incremental EBITDA for Q2 2024 due to cost reduction actions further strengthens the company's financial outlook.
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