Forward Air: 4Q Earnings Snapshot
GREENEVILLE, Tenn. (AP) _ Forward Air Corp. (FWRD) on Thursday reported fourth-quarter earnings of $24.2 million.
On a per-share basis, the Greeneville, Tennessee-based company said it had profit of 85 cents.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The contractor for the air cargo industry posted revenue of $381.5 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $384.3 million.
For the year, the company reported profit of $87.1 million, or $3.04 per share. Revenue was reported as $1.41 billion.
For the current quarter ending in April, Forward Air expects its per-share earnings to range from 58 cents to 62 cents.
Forward Air shares have declined slightly more than 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $67.56, an increase of 14% in the last 12 months.