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

Forward Air (Delaware)

07/08/2024 22:59

* Forward Air Corp  FWRD.OQ  reported quarterly adjusted
earnings
of $3.39​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of 91
cents.  The mean expectation of seven analysts for the quarter
was for a loss of 18 cents per share. Wall Street expected
results to range from -41 cents to 20 cents per share.
    * Revenue rose 60% to $643.67 million from a year ago;
analysts
expected $642.93 million. 
    * Forward Air Corp's reported EPS for the quarter was a loss
of
$23.47​.
    * The company reported a quarterly loss of $971.35 million.
    * Forward Air Corp shares had risen by 12.2% this
quarter and
lost 66.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 261.8% in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the courier,
postal,
air freight & land-based logistics peer group is also "hold"

Wall Street's median 12-month price target for Forward Air Corp
is $21.50 
This summary was machine generated from LSEG data August 7 at
09:59 p.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
 Jun. 30 2024      -0.18          3.39           Beat
 Mar. 31 2024      -0.11          -0.64          Missed
 Dec. 31 2023      0.98           0.81           Missed
 Sep. 30 2023      1.11           0.99           Missed