Forward Air Q4 Profit Down

(RTTNews) - Forward Air Corp. (FWRD) reported that its net income for the fourth-quarter declined to $24.2 million or $0.85 per share from $27.7 million or $0.95 per share last year.

Income from operations was $32.9 million down from $35.0 million in the prior year period.

Revenue for the quarter increased 7.0% to $381.5 million from $356.6 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.93 per share and revenues of $385.5 million for the quarter. Analysts' estimates typically exclude special items.

The company declared a quarterly cash dividend of $0.18 per share of common stock. The dividend is payable to shareholders of record at the close of business on March 5, 2020 and is expected to be paid on March 20, 2020.