Forward Air (FWRD) Misses Q4 EPS by 8c, Guidance Misses

Forward Air (NASDAQ: FWRD) reported Q4 EPS of $0.85, $0.08 worse than the analyst estimate of $0.93. Revenue for the quarter came in at $381.5 million versus the consensus estimate of $385.5 million.

GUIDANCE:

Forward Air sees Q1 2020 EPS of $0.58-$0.62, versus the consensus of $0.70.

Regarding the Company’s first quarter 2020 guidance, Mr. Morris said, “We expect significant Final Mile revenue growth following the January 12th closing of our previously announced Linn Star acquisition, which we expect will drive consolidated first quarter year-on-year revenue growth of 13% to 17%. We expect net income per diluted share to be between $0.58 and $0.62 in the first quarter of 2020, reflecting continued headwinds from a soft macro environment as well as higher insurance-related costs. This compares to $0.64 in the first quarter of 2020.”

For earnings history and earnings-related data on Forward Air (FWRD) click here.

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