Forward Air Corp reports results for the quarter ended in December - Earnings Summary

Forward Air (Delaware)

29/02/2024 11:18

* Forward Air Corp  FWRD.OQ  reported quarterly adjusted
earnings
of 81 cents​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of $1.65.  The mean expectation of seven analysts for the
quarter was for earnings of 98 cents per share. Wall Street
expected results to range from 93 cents to $1.00 per share.
    * Revenue fell 29.7% to $338.43 million from a year ago;
analysts
expected $406.57 million. 
    * Forward Air Corp's reported EPS for the quarter was
$3.93​.
    * The company reported quarterly net income of $101.74
million.
    * Forward Air Corp shares had fallen by 37.7% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.6%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 4
"hold" and 1 "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Forward Air
Corp
is $55.00 

This summary was machine generated from LSEG data February 29 at
11:17 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.98           0.81           Missed
 Sep. 30 2023      1.11           0.99           Missed
 Jun. 30 2023      1.28           0.91           Missed
 Mar. 31 2023      1.31           1.37           Beat