Forward Air reports Q3 adjusted EPS 99c, consensus $1.11

Reports Q3 revenue $413.45M, consensus $419.57M. Tom Schmitt, Chairman, President and CEO, said, “Precision execution of our revenue growth strategies led to positive volume trends and improved freight quality metrics. In the first weeks of the Q4, we have seen continued momentum with +6% pounds per day growth over the same period in the prior year. In addition to the growth of our LTL volumes, our Q3 of 2023 weight per shipment increased +8% over the same period in the prior year. After a sluggish start to the third quarter, our LTL line of business achieved an operating ratio of approximately 85.5% for September 2023, a sequential improvement of 80 basis points from June 2023.”