Forward Air (NASDAQ:FWRD) Announces Quarterly Earnings Results

Forward Air (NASDAQ:FWRD) announced its earnings results on Monday. The transportation company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01), Zacks reports. The firm had revenue of $631.23 million during the quarter, compared to analyst estimates of $629.60 million. Forward Air had a negative return on equity of 40.10% and a negative net margin of 4.32%.The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.23) earnings per share.

Here are the key takeaways from Forward Air’s conference call:

• Strategic alternatives review nearing conclusion: Management said the comprehensive review is progressing and likely close to a conclusion, but provided no specifics or timetable for outcomes.
• Adjusted EBITDA improved materially: Full-year adjusted EBITDA rose by $40 million year‑over‑year to $293 million, showing improved earnings quality despite a weak freight market.
• Segment performance gains — Omni and Expedited: Omni Logistics nearly doubled full‑year reported EBITDA to $124 million with margin expansion, and Expedited Freight margin improved to 10.9% after corrective pricing and shedding unprofitable freight.
• Cash flow and liquidity strengthened: Operating cash improved by $113 million year‑over‑year (generated $44 million vs. used $69 million prior year), with year‑end liquidity of $367 million ( $106M cash + $261M revolver availability).
• $20 million non‑cash impairment: The fourth quarter included a $20 million impairment of software implementation costs (non‑cash), though the credit agreement allows an add‑back for covenant purposes.

Forward Air Stock Down 4.9%

FWRD traded down $1.30 during midday trading on Wednesday, hitting $25.13. 694,354 shares of the company’s stock traded hands, compared to its average volume of 583,820. The company has a debt-to-equity ratio of 8.73, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $785.44 million, a PE ratio of -7.14 and a beta of 1.35. Forward Air has a one year low of $9.78 and a one year high of $32.47. The stock’s fifty day simple moving average is $27.15 and its 200-day simple moving average is $25.61.

Institutional Investors Weigh In On Forward Air

Several institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its stake in Forward Air by 20.8% during the 4th quarter. Invesco Ltd. now owns 268,960 shares of the transportation company’s stock valued at $6,724,000 after purchasing an additional 46,240 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in shares of Forward Air during the fourth quarter worth approximately $36,000. SummitTX Capital L.P. bought a new stake in shares of Forward Air in the fourth quarter valued at approximately $4,030,000. One68 Global Capital LLC acquired a new stake in shares of Forward Air in the fourth quarter worth $225,000. Finally, Inspire Investing LLC increased its position in Forward Air by 6.0% during the fourth quarter. Inspire Investing LLC now owns 18,636 shares of the transportation company’s stock worth $466,000 after acquiring an additional 1,055 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FWRD. Jefferies Financial Group reaffirmed a “buy” rating on shares of Forward Air in a research report on Thursday, November 6th. Zacks Research lowered Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Susquehanna reiterated a “positive” rating and issued a $42.00 target price on shares of Forward Air in a report on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.00.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.