Forward Air Reports Record EPS despite Missed Revenue Expectations
May 2, 2023
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Forward Air ($NASDAQ:FWRD) Corporation (NASDAQ:FWRD) recently reported its quarterly earnings, beating expectations for earnings per share (EPS) but falling short on revenue. The logistics and transportation company reported a GAAP EPS of $1.37, which was $0.08 above the analyst consensus estimate. Forward Air Corporation is a leading provider of expedited surface transportation and related logistics services in North America. It specializes in time-critical transportation services ranging from same-day to next-day delivery of light-weight freight.
Share Price
This came despite the fact that it missed analyst expectations for its revenue. At the end of the trading day, FORWARD AIR‘s stock opened at $105.3 before closing at $106.7, representing an increase of 1.1% from its previous closing price of 105.5. While the company’s top-line revenue was slightly lower than expected, analysts were pleased with the earnings growth and the record setting performance. They highlighted that the company’s bottom-line performance was strong, driven by cost cutting and better margin optimization.
Combined with its positive outlook for the future, this helped to boost investor confidence and propel the stock upwards. All in all, FORWARD AIR was able to exceed analyst expectations for earnings while falling short of revenue expectations. The stock responded positively to the news, and investors can hope that the company will be able to build on this success in the coming quarters. 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 |
| 1.97k | 192.12 | 9.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Forward Air. More…
| Operations | Investing | Financing |
| 259.09 | -104.46 | -146.12 |
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 |
| 1.21k | 500.83 | 26.73 |
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 |
| 11.8% | 30.8% | 13.5% |
| FCF Margin | ROE | ROA |
| 11.1% | 23.9% | 13.8% |
Analysis
We at GoodWhale recently conducted an analysis of FORWARD AIR‘s wellbeing. The outcome of the analysis revealed that FORWARD AIR is a medium risk investment in terms of financial and business aspects. During the analysis, we detected 1 risk warning in the income sheet. If you’re interested in learning more about it, be sure to register on goodwhale.com. We offer detailed information about any company’s health and risk level. With our service, you can make more informed investment decisions and protect your finances. 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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Summary
Forward Air is a transportation and logistics company that recently released their quarterly earnings report. The report showed that their GAAP earnings per share (EPS) was $1.37, beating analyst expectations by $0.08.
However, their revenue of $427.07 million missed expectations by $33.47 million. This indicates that the company is likely performing well on the earnings side, but not quite as well on the revenue side. Investors should pay attention to the company’s earnings and revenue trends to get a better understanding of its overall financial performance.
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