Forward Air Sees More "Double-Doubles" As Company Returns To Form
On a call with analysts Friday, management from Forward Air (NASDAQ: FWRD ) laid out some margin targets after posting a first-quarter earnings beat and issuing guidance well ahead of expectations. Thursday after the close, the Greeneville, Tennessee-based asset-light trucking and logistics company reported net income from continuing operations of 60 cents per share, which was 3 cents ahead of consensus and 19 cents better year-over-year. Continuing operations exclude the high-frequency pool distribution segment, which was sold in February . Outlook Moves Higher The outlook for the second quarter came in notably higher than analysts' expectations. Revenue is expected to increase between 35% and 40% year-over-year, implying $387 million at the midpoint compared to the consensus estimate of $349 million. Earnings per share were forecast to a range of 96 cents to $1 compared to consensus of 79 cents. Behind the bullish outlook is the company's "strongest March ever," according to Tom Schmitt, chairman, president and CEO.
Forward Air Sees More "Double-Doubles" As Company Returns To Form
On a call with analysts Friday, management from Forward Air (NASDAQ: FWRD ) laid out some margin targets after posting a first-quarter earnings beat and issuing guidance well ahead of expectations. Thursday after the close, the Greeneville, Tennessee-based asset-light trucking and logistics company reported net income from continuing operations of 60 cents per share, which was 3 cents ahead of consensus and 19 cents better year-over-year. Continuing operations exclude the high-frequency pool distribution segment, which was sold in February . Outlook Moves Higher The outlook for the second quarter came in notably higher than analysts' expectations. Revenue is expected to increase between 35% and 40% year-over-year, implying $387 million at the midpoint compared to the consensus estimate of $349 million. Earnings per share were forecast to a range of 96 cents to $1 compared to consensus of 79 cents. Behind the bullish outlook is the company's "strongest March ever," according to Tom Schmitt, chairman, president and CEO.