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Forward Air: 3Q Earnings Snapshot

·1 min read

GREENEVILLE, Tenn. (AP) _ Forward Air Corp. (FWRD) on Thursday reported third-quarter earnings of $16.6 million.

On a per-share basis, the Greeneville, Tennessee-based company said it had net income of 60 cents. Earnings, adjusted to account for discontinued operations, were 61 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The contractor for the air cargo industry posted revenue of $332 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $322.3 million.

Forward Air shares have decreased 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $61.50, a fall of 14% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FWRD at https://www.zacks.com/ap/FWRD