NASDAQ$FWRD
Forward Air Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported positive volume trends and improved freight quality metrics amidst softer freight conditions.
Forward Air Corporation reported a 16% decline in revenue compared to the previous year, driven by challenging market conditions and decreased demand for intermodal and truckload brokerage services, partially offset by positive trends in less-than-truckload services. The company's adjusted net income per diluted share was $0.81, exceeding the guidance range. The acquisition of Omni Logistics was completed, positioning the combined entity as a premier provider for mission-critical freight transportation.
- Less-than-Truckload volume trending positive with pounds per day growth of +6% and weight per shipment increased +11% year-over-year.
- Comprehensive efforts are underway to integrate Omni Logistics.
- The company remains committed to delivering exceptional service to customers, with on-time service performance at 98% and a cargo claims ratio of 0.09%.
- The Board of Directors has decided to suspend Forward’s quarterly dividend while the Company continues to execute on de-risking the capital structure.
Headline financials
Revenue & EPS history
Forward Air · Revenue · Quarterly
$338M
Revenue by segment
Forward Air · $414M total across 2 segments · Q3 2023
- Expedited Freight$351M-11.2%85.0%
- Intermodal$62.2M-45.7%15.0%
Forward guidance
Forward Air has temporarily discontinued providing earnings guidance due to the ongoing integration of Omni Logistics.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
+0.1%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+1.8%
Avg return
30 days after
55%
37 / 67 earnings
Positive
+27.5%
Q2 2024
Best reaction
-19.8%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.1% | -11.3% | +24.3% | |
| Q4 2025 | +4.6% | +0.0% | -32.5% | |
| Q3 2025 | +0.7% | +16.1% | +41.9% | |
| Q1 2025 | +0.3% | +9.7% | +8.5% | |
| Q4 2024 | -10.7% | -14.0% | -19.5% | |
| Q3 2024 | +6.6% | +3.4% | +0.2% | |
| Q2 2024 | +27.5% | +15.9% | +49.5% | |
| Q1 2024 | -19.8% | -22.7% | -1.1% | |
| Q4 2023 | -7.5% | -20.8% | -22.5% | |
| Q3 2023 | -8.5% | -5.9% | -9.7% | |
| Q2 2023 | -5.4% | -6.3% | -39.5% | |
| Q1 2023 | -6.5% | -7.8% | -7.8% | |
| Q4 2022 | -15.3% | -11.1% | -8.7% | |
| Q3 2022 | +0.6% | +4.9% | +9.7% | |
| Q2 2022 | +6.9% | +10.0% | +7.2% | |
| Q1 2022 | +6.7% | +8.1% | +2.5% | |
| Q4 2021 | -5.0% | -5.5% | -5.7% | |
| Q3 2021 | +3.2% | +11.4% | +7.6% | |
| Q2 2021 | +2.0% | +2.9% | +2.8% | |
| Q1 2021 | +1.1% | +11.8% | +11.0% | |
| Q4 2020 | +1.6% | +5.8% | +17.0% | |
| Q3 2020 | +4.9% | +11.0% | +23.6% | |
| Q2 2020 | -1.6% | +2.8% | +11.8% | |
| Q1 2020 | -9.3% | -11.2% | -7.1% | |
| Q4 2019 | -4.7% | -7.1% | -15.6% | |
| Q3 2019 | +6.8% | +8.2% | +5.6% | |
| Q2 2019 | +3.8% | +1.4% | -5.0% | |
| Q1 2019 | -1.5% | -6.5% | -13.8% | |
| Q4 2018 | +9.0% | +10.2% | +4.7% | |
| Q3 2018 | -8.3% | -7.4% | -1.7% | |
| Q2 2018 | +8.4% | +7.6% | +10.7% | |
| Q1 2018 | +5.2% | +3.1% | +14.1% | |
| Q4 2017 | -6.0% | -4.5% | -3.9% | |
| Q3 2017 | -1.1% | -2.1% | -6.1% | |
| Q2 2017 | -6.7% | -4.8% | -6.3% | |
| Q1 2017 | +7.8% | +4.1% | +2.6% | |
| Q4 2016 | +6.1% | +6.8% | +1.6% | |
| Q3 2016 | -1.5% | -0.7% | +16.4% | |
| Q2 2016 | +4.9% | +4.4% | +2.7% | |
| Q1 2016 | +0.3% | — | — | |
| Q4 2015 | -13.4% | — | — | |
| Q3 2015 | +3.7% | — | — | |
| Q2 2015 | -5.1% | — | — | |
| Q1 2015 | +3.2% | — | — | |
| Q4 2014 | +6.1% | — | — | |
| Q3 2014 | -4.5% | — | — | |
| Q2 2014 | +0.3% | — | — | |
| Q1 2014 | -3.2% | — | — | |
| Q4 2013 | -0.5% | — | — | |
| Q3 2013 | +1.2% | — | — | |
| Q2 2013 | -5.2% | — | — | |
| Q1 2013 | +0.0% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2012 | +5.8% | — | — | |
| Q2 2012 | +4.6% | — | — | |
| Q1 2012 | -0.7% | — | — | |
| Q4 2011 | -2.3% | — | — | |
| Q3 2011 | -2.9% | — | — | |
| Q2 2011 | -2.5% | — | — | |
| Q1 2010 | +1.6% | — | — | |
| Q4 2010 | +1.6% | — | — | |
| Q1 2011 | +6.4% | — | — | |
| Q4 2008 | +2.4% | — | — | |
| Q2 2009 | -1.9% | — | — | |
| Q3 2009 | -1.9% | — | — | |
| Q2 2010 | +2.3% | — | — | |
| Q4 2009 | +2.3% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro