Forward Air Q4 net loss $14.7M, revenue down 16%; adjusted EPS $0.81 beats guidance

FORWARD AIR CORP

2023-FY EPS reported $6.40 revenue$1,370,735,000

Net loss of $14.7M ($0.58 diluted loss) vs net income of $39M ($1.45) in Q4 2022.
Revenue $338M, down 16% YoY; LTL pounds per day +6%, weight per shipment +11%.
Adjusted diluted EPS $0.81, above guidance range of $0.78-$0.80.
Closed Omni Logistics acquisition on Jan 25, 2024; temporarily suspending earnings guidance due to integration.
On-time service 98%, cargo claims ratio 0.09%; intermodal and truckload brokerage demand weaker.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FORWARD AIR CORP reported three months ended December 31, 2023 results: revenue $338,428, net income $(14,721), EPS $(0.58).

Period: three months ended December 31, 2023
Revenue: $338,428
Net income: $(14,721)
EPS: $(0.58)
Result: reported results

Exact text from the filing

and achievements.” Continuing Operations Three Months Ended (in thousands, except per share data) December 31, 2023 December 31, 2022 Change Percent Change Operating revenue $ 338,428 $ 403,039 $ (64,611) (16.0) % Income from operations $ 3,000 $ 56,330 $ (53,330) (94.7) % Operating margin 0.9 % 14.0 % (1,310) bps Net income $ (14,721) $ 39,009 $ (53,730)

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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 0001628280-24-007719

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