Forward Air Corporation reports results for the quarter ended September 30 - Earnings Summary

• Forward Air Corporation reported quarterly adjusted earnings of 29 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of -41 cents. The mean expectation of five analysts for the quarter was for earnings of 12 cents per share. Wall Street expected results to range from 4 cents to 26 cents per share.

• Revenue rose 6.7% to $673.86 million from a year ago; analysts expected $677.35 million.

• Forward Air Corporation's reported EPS for the quarter was 34 cents​.

• The company reported quarterly net income of $11.38 million.

• Forward Air Corporation shares had risen by 9.1% this quarter and lost 33.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 18.3% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the courier, postal, air freight & land-based logistics peer group is also "buy"

• Wall Street's median 12-month price target for Forward Air Corporation is $26.00, about 32.1% above its last closing price of $17.65

This summary was machine generated from LSEG data November 10 at 12:11 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)