Forward Air Q2 Profit Decreases, misses estimates

(RTTNews) - Forward Air (FWRD) released earnings for second quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $19.95 million, or $0.76 per share. This compares with $55.43 million, or $2.04 per share, in last year's second quarter.

Excluding items, Forward Air reported adjusted earnings of $23.92 million or $0.91 per share for the period.

Analysts on average had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 21.9% to $402.18 million from $515.22 million last year.

Forward Air earnings at a glance (GAAP) :

-Earnings (Q2): $19.95 Mln. vs. $55.43 Mln. last year. -EPS (Q2): $0.76 vs. $2.04 last year. -Analyst Estimates: $1.28 -Revenue (Q2): $402.18 Mln vs. $515.22 Mln last year.