Forward Air Q4 Profit Increases, but misses estimates

(RTTNews) - Forward Air (FWRD) announced a profit for its fourth quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line came in at $42.9 million, or $1.60 per share. This compares with $38.2 million, or $1.40 per share, in last year's fourth quarter.

Excluding items, Forward Air reported adjusted earnings of $44.4 million or $1.65 per share for the period.

Analysts on average had expected the company to earn $1.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.6% to $481.2 million from $459.9 million last year.

Forward Air earnings at a glance (GAAP) :

-Earnings (Q4): $42.9 Mln. vs. $38.2 Mln. last year. -EPS (Q4): $1.60 vs. $1.40 last year. -Analyst Estimate: $1.94 -Revenue (Q4): $481.2 Mln vs. $459.9 Mln last year.