Forward Air Stock Fair Value – FORWARD AIR Announces Second Quarter Earnings Results for FY2023
August 24, 2023
🌥️Earnings Overview
On August 2 2023, FORWARD AIR ($NASDAQ:FWRD) revealed earnings results for the second quarter of FY2023, ending June 30 2023. Total revenue for the quarter came to USD 402.2 million, a year-on-year drop of 21.9%. Net income was reported as USD 20.0 million, representing a decrease of 64.0% compared to the same period last year.
Market Price
The company reported higher than expected revenue, as well as strong operating income. The stock opened at $117.3 and closed at $118.9, up by 0.3% from the prior closing price of $118.5. This is a positive sign for the company and investors alike, as it shows that the company is able to generate consistent returns even in challenging economic times. The company’s stock price responded positively to the news, with shares increasing by 0.3% from the prior closing price of $118.5.
This increase in share price is a testament to the confidence investors have in the company’s ability to generate returns even in a difficult market. With strong returns and resilient stock price, FORWARD AIR is well-positioned for continued success in the year ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Forward Air. More…
| Total Revenues | Net Income | Net Margin |
| 1.82k | 150.87 | 8.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Forward Air. More…
| Operations | Investing | Financing |
| 275.84 | -117.23 | -187.71 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Forward Air. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.18k | 510.96 | 25.95 |
Key Ratios Snapshot
Some of the financial key ratios for Forward Air are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.7% | 30.7% | 11.7% |
| FCF Margin | ROE | ROA |
| 13.0% | 19.7% | 11.3% |
Analysis – Forward Air Stock Fair Value
At GoodWhale, we’ve taken a deep dive into the wellbeing of FORWARD AIR stock. After doing our research and using our proprietary Valuation Line, we have determined that the intrinsic value of FORWARD AIR shares is approximately $106.0. Currently, FORWARD AIR stock is traded at $118.9, a fair price that is slightly overvalued by 12.2%. We believe that while this is not necessarily a bad thing, investors should be aware that the current share price is higher than the intrinsic value. With this in mind, we advise investors to do their due diligence and examine all aspects of FORWARD AIR’s financials before investing. More…
Peers
Forward Air Corporation is an American freight transportation and logistics company with its headquarters in Greeneville, Tennessee. The company operates 97 terminals and 10 Hubs throughout the United States. Forward Air has been in business since 1974 and has a fleet of over 1,400 tractors and 2,800 trailers. The company’s revenue was $946 million in 2017.
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Janel Corporation is a leading provider of integrated logistics solutions. The company offers a full range of services, including transportation, warehousing, and distribution. Janel has a strong commitment to quality and customer service, and is proud to be a leader in the logistics industry. The company has a market cap of 47.09M as of 2022 and a return on equity of 35.82%. Janel is a well-positioned company with a strong commitment to quality and customer service. The company’s market cap and ROE are both impressive, and the company is poised for continued success in the logistics industry.
– Grand Power Logistics Group Ltd ($SEHK:08489)
Grand Power Logistics Group Ltd is a Hong Kong-based investment holding company principally engaged in the provision of integrated logistics solutions. The Company operates its business through four segments, including Airfreight Forwarding, Ocean Forwarding, Land Transportation and Contract Logistics. The Company offers a range of airfreight services, including airfreight forwarding, air transportation, storage and related services. The Company’s oceanfreight services include oceanfreight forwarding, ocean transportation, storage and related services. The Company offers land transportation services, including land transportation and storage services. The Company’s contract logistics services include storage, order picking, value-added services and other related services.
– Wiseway Group Ltd ($ASX:WWG)
Wiseway Group Ltd is a holding company that operates through its subsidiaries. The company’s businesses include power generation, transmission and distribution, railway transportation, and other infrastructure construction. The company was founded in 1949 and is headquartered in Beijing, China.
Summary
Forward Air has had a tough second quarter of FY2023, ending June 30 2023. Total revenue was USD 402.2 million, a 21.9% decrease year-over-year, and net income was USD 20.0 million, a 64.0% decline. This suggests that investors should be cautious when considering investing in this company. Analysis of underlying performance indicators such as cost of goods sold, operating expenses and cash flow should be conducted to get a better understanding of the company’s financial stability before making any investment decisions.
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