Forward Air Q3 revenue down 19%; adjusted EPS $0.99; Q4 guidance weak

FORWARD AIR CORP

2023-Q3 EPS reported $2.50 revenue$1,242,695,000

Revenue $413.4M (-18.9% YoY); net income $9.3M ($0.36 diluted EPS).
Adjusted net income per diluted share $0.99 vs $1.93 GAAP in prior year.
Q4 2023 guidance: revenue decline 7-17% YoY; adjusted EPS $0.98-$1.02 vs $1.65 prior.
Board declares $0.24/share quarterly dividend, payable Dec 7 to holders Nov 22.
Company accelerating strategic portfolio review; LTL volumes improve, intermodal weak.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FORWARD AIR CORP reported three and nine months ended September 30, 2023 results: revenue $413,447, net income $9,288, EPS $0.36. Guidance lowered.

Period: three and nine months ended September 30, 2023
Revenue: $413,447
Net income: $9,288
EPS: $0.36
Guidance: lowered
Result: reported results

Exact text from the filing

of $1.65 in the fourth quarter of 2022.” Three Months Ended (in thousands, except per share data) September 30, 2023 September 30, 2022 Change Percent Change Operating revenue $ 413,447 $ 510,023 $ (96,576) (18.9) % Income from operations $ 15,493 $ 71,665 $ (56,172) (78.4) % Operating margin 3.7 % 14.1 % (1,040) bps Net income $ 9,288 $ 52,133 $ (42,845) (82.2)

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46 earnings releases filed in the last 30 days. Browse all earnings releases →

FORWARD AIR CORP filing history →

Source: SEC EDGAR

accession 0001628280-23-035544

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