Forward Air Misses on Both Revenue and Earnings

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Forward Air (NAS: FWRD) reported earnings on July 25. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), Forward Air missed estimates on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue grew. GAAP earnings per share contracted.


Margins contracted across the board.

Revenue details
Forward Air reported revenue of $159.8 million. The two analysts polled by S&P Capital IQ anticipated net sales of $167.5 million on the same basis. GAAP reported sales were 7.7% higher than the prior-year quarter's $148.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
EPS came in at $0.45. The 13 earnings estimates compiled by S&P Capital IQ averaged $0.53 per share. GAAP EPS of $0.45 for Q2 were 6.2% lower than the prior-year quarter's $0.48 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Margin details
For the quarter, gross margin was 26.9%, 100 basis points worse than the prior-year quarter. Operating margin was 14.1%, 150 basis points worse than the prior-year quarter. Net margin was 8.7%, 90 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $162.1 million. On the bottom line, the average EPS estimate is $0.46.

Next year's average estimate for revenue is $641.1 million. The average EPS estimate is $1.82.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 109 members out of 121 rating the stock outperform, and 12 members rating it underperform. Among 34 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 30 give Forward Air a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Forward Air is hold, with an average price target of $38.50.

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The article Forward Air Misses on Both Revenue and Earnings originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month. TMFDisclosureHere

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