Forward Air (FWRD) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Forward Air (FWRD) reported revenue of $413.45 million, down 18.9% over the same period last year. EPS came in at $0.99, compared to $1.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $419.77 million, representing a surprise of -1.51%. The company delivered an EPS surprise of -10.00%, with the consensus EPS estimate being $1.10.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Forward Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating Revenue- Expedited Freight: $351.35 million versus $363.60 million estimated by two analysts on average.
Operating Revenue- Eliminations and other operations: -$0.08 million versus the two-analyst average estimate of -$0.30 million. The reported number represents a year-over-year change of +148.5%.
Operating Revenue- Intermodal: $62.18 million versus $64.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -45.7% change.
View all Key Company Metrics for Forward Air here>>>
Shares of Forward Air have returned +2.4% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Forward Air Corporation (FWRD) : Free Stock Analysis Report
