Nucor earnings beat by $0.08, revenue fell short of estimates
GREENEVILLE, Tenn. - Forward Air Corporation (NASDAQ:FWRD) reported a larger-than-expected loss in the first quarter as revenue fell short of analyst projections.
The asset-light transportation company posted a net loss of $61.2 million, or $1.68 per share, compared to a loss of $88.8 million, or $2.81 per share, in the same period last year.
Revenue for the quarter rose 13.2% year-over-year to $613.3 million, but came in below the consensus estimate of $651.3 million. The company’s adjusted EPS loss of $1.68 was significantly wider than analysts’ expectations for a $0.44 per share loss.
"Our team made progress in the first quarter by focusing our efforts on meeting customers’ needs with award-winning service and solid operational execution," said CEO Shawn Stewart. He noted that income from operations improved by $70 million compared to last year.
The Expedited Freight segment saw revenue decline 8.8% to $249.4 million, while Omni Logistics revenue jumped 43.9% to $323.5 million. Intermodal revenue increased 11% to $62.5 million.
Forward Air ended the quarter with $393 million in liquidity, up from $382 million at the end of Q4 2024. The company generated free cash flow of $16.4 million in Q1.
While facing economic headwinds, Forward Air said it is focused on improving pricing and operational execution to drive margin expansion. The company did not provide specific guidance for the upcoming quarter or full year.
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