Forward Air Q1 Profit Rises

(RTTNews) - Forward Air Corp. (FWRD) reported first-quarter profit of $11.2 million or $0.40 per share, up from $8.4 million or $0.30 per share last year.

Revenue for the quarter increased 18.5% to $362.2 million from $305.6 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share and revenues of $340.32 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, Forward Air expects revenue growth of 35% to 40 and earnings of $0.96 to $1.00 per share. Analysts currently estimate earnings of $0.79 per share on revenues of $348.72 million.