Forward Air Q3 Profit Rises

(RTTNews) - Forward Air Corporation (FWRD) Thursday reported third-quarter net income of $16.7 million or $0.54 per share, up from $14.2 million or $0.46 per share last year.

Operating revenue for the quarter increased 18.5 percent to $201.5 million from $170.0 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.59 per share on revenues of $205.0 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company expects earnings of $0.60 to $0.66 per share and revenue growth of 18 to 22 percent. Analysts currently estimate earnings of $0.66 per share on revenues of $216.6 million for the quarter.