U.S. Markets open in 20 mins

Forward Air: 4Q Earnings Snapshot

GREENEVILLE, Tenn. (AP) _ Forward Air Corp. (FWRD) on Thursday reported fourth-quarter profit of $27.7 million.

On a per-share basis, the Greeneville, Tennessee-based company said it had net income of 95 cents.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The contractor for the air cargo industry posted revenue of $356.6 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $346 million.

For the year, the company reported profit of $92.1 million, or $3.12 per share. Revenue was reported as $1.32 billion.

Forward Air shares have risen 7 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $58.75, a decline of 1 percent in the last 12 months.


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