Forward Air (NASDAQ:FWRD) Issues Quarterly Earnings Results

Forward Air (NASDAQ:FWRD) announced its earnings results on Monday. The transportation company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.64), Briefing.com reports. Forward Air had a negative return on equity of 40.10% and a negative net margin of 4.32%.The company had revenue of $631.23 million during the quarter, compared to the consensus estimate of $629.60 million. During the same period in the prior year, the firm posted ($1.23) earnings per share. The company’s revenue was up 1.2% on a year-over-year basis.

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 Price Performance

NASDAQ FWRD opened at $25.89 on Wednesday. The company has a debt-to-equity ratio of 8.73, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $809.06 million, a price-to-earnings ratio of -7.34 and a beta of 1.35. The business has a 50 day simple moving average of $27.15 and a 200 day simple moving average of $25.61. Forward Air has a 52-week low of $9.78 and a 52-week high of $32.47.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FWRD. Susquehanna reaffirmed a “positive” rating and set a $42.00 price target on shares of Forward Air in a research note on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Forward Air in a research note on Thursday, November 6th. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Stifel Nicolaus upped their target price 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $34.00.

Institutional Investors Weigh In On Forward Air

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in Forward Air by 1,179.7% during the 1st quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock worth $6,451,000 after purchasing an additional 296,001 shares in the last quarter. AQR Capital Management LLC lifted its stake in Forward Air by 7.0% in the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock valued at $201,000 after acquiring an additional 654 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Forward Air by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after acquiring an additional 624 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Forward Air by 64.2% during the 1st quarter. Intech Investment Management LLC now owns 73,040 shares of the transportation company’s stock worth $1,467,000 after acquiring an additional 28,564 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Forward Air by 6.6% in the second quarter. Prudential Financial Inc. now owns 21,431 shares of the transportation company’s stock valued at $526,000 after purchasing an additional 1,323 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.