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Forward Air tops Street 1Q forecasts

GREENEVILLE, Tenn. (AP) _ Forward Air Corp. (FWRD) on Wednesday reported first-quarter earnings of $14.2 million.

The Greeneville, Tennessee-based company said it had profit of 47 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The contractor for the air cargo industry posted revenue of $247 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $241 million.

Forward Air shares have increased roughly 6 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $50.12, an increase of slightly more than 6 percent 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

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Keywords: Forward Air, Earnings Report