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Forward Air Corp. (FWRD)
NASDAQ:FWRD
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.12Last Year’s EPS
$0.81Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: -14.23%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant revenue growth and positive cash flow improvements, largely driven by the Omni acquisition. However, challenges remain in the Expedited Freight segment's pricing strategy and a decrease in Intermodal revenue. While integration efforts are ahead of plan, the company has lowered its full-year EBITDA guidance due to ongoing macroeconomic challenges.Company Guidance
During Forward Air's Q3 2024 earnings call, guidance was provided detailing several key metrics and strategic initiatives. The company reported a significant 92% year-over-year revenue increase to $656 million, largely attributed to the acquisition of Omni. Despite this growth, consolidated EBITDA for the quarter was $77 million, reflecting a slight decline from the previous quarter's $81 million, primarily due to challenges in the Expedited Freight segment. Cash provided by operating activities rebounded significantly, increasing by $98 million compared to the prior quarter, resulting in total liquidity of $460 million. Forward Air also updated its full-year 2024 consolidated EBITDA guidance to a range of $300 million to $310 million, down from the previous $310 million to $325 million forecast, citing a muted macroeconomic environment. The company emphasized its ongoing integration efforts with Omni, targeting $75 million in annualized savings by the end of Q1 2025, and highlighted strategic expansions, including a new facility in Miami and offices in South America, as part of its transformation into a vertically integrated global logistics provider.Significant Revenue Increase
Revenue for the quarter was $656 million, a 92% or $315 million increase compared to the third quarter of the prior year, largely driven by the Omni acquisition.
Positive Cash Flow and Liquidity
Cash provided by operating activities for the third quarter increased by $98 million, resulting in a positive $53 million this quarter. Total liquidity at the end of the quarter was $460 million, a $15 million increase from the previous quarter.
Integration and Savings Ahead of Plan
The company is tracking slightly ahead of plan for the $75 million in annualized savings run rate and expects to reach that level by the end of the first quarter of next year.
New Strategic Facilities and Expansions
Opened a new warehouse and freight station in Miami, strategically positioned for access to Miami International Airport and the Port of Miami. Additionally, expanded presence in South America with new offices in Santiago, Chile, and Bogota, Colombia.
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FWRD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FWRD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $33.73 | $36.50 | +8.21% |
| Aug 07, 2024 | $22.50 | $27.24 | +21.07% |
| May 09, 2024 | $21.51 | $16.76 | -22.08% |
| Feb 28, 2024 | $39.15 | $37.13 | -5.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Forward Air Corp. (FWRD) report earnings?
Forward Air Corp. (FWRD) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is Forward Air Corp. (FWRD) earnings time?
Forward Air Corp. (FWRD) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FWRD EPS forecast?
FWRD EPS forecast for the fiscal quarter 2024 (Q4) is -$0.12.
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