secwatch.observer — SEC 8-K summary
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Issuer:     FORWARD AIR CORP (FWRD)
CIK:        0000912728
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001628280-23-014664
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Forward Air Q1 EPS $1.37 beats on $0.24 one-time; revenue -8.5%; FY outlook reduced
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- Q1 diluted EPS $1.37 beat guidance of $1.30-$1.34; includes $0.24 one-time from reversal of 2021 incentive plan accrual.
- Revenue $427M, down 8.5% YoY, below low end of guidance (-4% to +2% revenue change).
- FY2023 EPS target revised to $6.20-$6.60, implying decline from 2022; Q2 guidance EPS $1.28-$1.32 on revenue down 7-17%.
- Q1 tonnage per day down 12% YoY; improved to -5% in recent weeks, suggesting potential early freight recovery.
- Quarterly dividend of $0.24 per share declared, payable June 13, 2023 to holders of record May 25, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912728/000162828023014664/0001628280-23-014664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912728/000162828023014664/fwrd-20230501.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-014664

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