For the quarter ended September 2023, Forward Air (FWRD - Free Report) reported revenue of $413.45 million, down 18.9% over the same period last year. EPS came in at $0.99, compared to $1.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $419.77 million, representing a surprise of -1.51%. The company delivered an EPS surprise of -10.00%, with the consensus EPS estimate being $1.10.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Forward Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Operating Revenue- Expedited Freight: $351.35 million versus $363.60 million estimated by two analysts on average.
- Operating Revenue- Eliminations and other operations: -$0.08 million versus the two-analyst average estimate of -$0.30 million. The reported number represents a year-over-year change of +148.5%.
- Operating Revenue- Intermodal: $62.18 million versus $64.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -45.7% change.
View all Key Company Metrics for Forward Air here>>>Shares of Forward Air have returned +2.4% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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For the quarter ended September 2023, Forward Air (FWRD - Free Report) reported revenue of $413.45 million, down 18.9% over the same period last year. EPS came in at $0.99, compared to $1.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $419.77 million, representing a surprise of -1.51%. The company delivered an EPS surprise of -10.00%, with the consensus EPS estimate being $1.10.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Forward Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Operating Revenue- Expedited Freight: $351.35 million versus $363.60 million estimated by two analysts on average.
- Operating Revenue- Eliminations and other operations: -$0.08 million versus the two-analyst average estimate of -$0.30 million. The reported number represents a year-over-year change of +148.5%.
- Operating Revenue- Intermodal: $62.18 million versus $64.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -45.7% change.
View all Key Company Metrics for Forward Air here>>>Shares of Forward Air have returned +2.4% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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