Forward Air (NASDAQ:FWRD) Releases Quarterly Earnings Results, Misses Estimates By $0.39 EPS

Forward Air (NASDAQ:FWRD) reported quarterly earnings of ($0.52) EPS, missing estimates by $0.39. Revenue was $631.76 million, below the expected $645.45 million, marking a 3.7% decline year-over-year. The company has a negative net margin of 6.86% and a return on equity of -40.36%. Following the earnings report, FWRD stock rose to $21.67. Analysts have mixed ratings, with two Buy, two Hold, and two Sell ratings, and an average target price of $33.67.

Forward Air Navigates Challenges with Strategic Adjustments

Forward Air's Q3 earnings call highlighted the company's strategic adjustments amid challenging market conditions. Despite a freight recession, the company reported consistent EBITDA of $78 million and significant advancements in technology and operational efficiencies. Forward Air is undergoing a strategic review to explore options for maximizing shareholder value, including potential sales or mergers. The Omni Logistics segment showed strong growth, while cash flow improved to $53 million. The company remains focused on operational improvements and leveraging its One Ground Network for future growth.

Forward Air shares are trading higher. The company reported Q3 financial results.

Forward Air Reports Strong Q3 Results Amid Freight Recession

Forward Air Corporation reported strong Q3 results despite a freight recession, with operating income of $15 million and Consolidated EBITDA of $78 million. Consolidated revenue was $632 million, slightly down from last year. The Omni segment achieved record revenue of $340 million, while the Expedited Freight segment maintained an EBITDA margin of 11.5%. The company has over $400 million in liquidity and is focused on integrating U.S. and Canadian operations to enhance efficiency and customer service. Management remains optimistic about future operational improvements and synergies from the Omni Logistics acquisition.

Logistics services provider Forward Air Q3 revenue misses estimates

Forward Air's Q3 revenue fell 3.7% year-over-year, missing analyst estimates of $640 million with actual revenue at $631.76 million. The Omni segment saw a revenue increase to $340 million, supported by diversified services. Liquidity improved to $413 million due to strong cash flow from operations. The company did not provide future guidance. Analysts maintain a "buy" rating, with a median 12-month price target of $35.00, reflecting a potential upside of 48.2% from the recent closing price of $18.14.