Forward Air Q4 Profit Increases, beats estimates

(RTTNews) - Forward Air (FWRD) released earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $38.2 million, or $1.40 per share. This compares with $15.1 million, or $0.55 per share, in last year's fourth quarter.

Excluding items, Forward Air reported adjusted earnings of $38.1 million or $1.40 per share for the period.

Analysts on average had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 31.3% to $459.9 million from $350.3 million last year.

Forward Air earnings at a glance (GAAP) :

-Earnings (Q4): $38.2 Mln. vs. $15.1 Mln. last year. -EPS (Q4): $1.40 vs. $0.55 last year. -Analyst Estimate: $1.31 -Revenue (Q4): $459.9 Mln vs. $350.3 Mln last year.