Overview
Forward Air Q3 revenue declined 3.7% yr/yr, missing analyst expectations
Omni segment revenue rose $5 mln to $340 mln, driven by diversified services
Company's liquidity improved to $413 mln, aided by strong cash from operations
Outlook
Company did not provide specific guidance for future quarters or full year in its press release
Result Drivers
OMNI SEGMENT - Strong performance with highest revenue and EBITDA since acquisition, driven by demand for diversified services
EXPEDITED FREIGHT MARGINS - Stable margins with 11.5% EBITDA margin, second highest since Q4 2023, due to cost optimization and integration efforts
LIQUIDITY IMPROVEMENT - Liquidity increased to $413 mln, supported by strong cash flow from operations
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Operating Revenue | Miss | $631.76 mln | $640 mln (5 Analysts) |
Q3 EPS | -$0.52 | ||
Q3 EBITDA | $77.68 mln | ||
Q3 Free Cash Flow | $48.89 mln | ||
Q3 Operating Margin | 2.40% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the courier, postal, air freight & land-based logistics peer group is "buy"
Wall Street's median 12-month price target for Forward Air Corp (Delaware) is $35.00, about 48.2% above its November 4 closing price of $18.14
Press Release: ID:nBwX3v5Va
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)