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0 -0.000882223202470206 0.0141155712395236 0.0229378032642258 0.030013233348037 0.00264666960741062 -0.0127922364358182 -0.00573445081605642
Stock impact report

Why Forward Air Stock Dropped on Thursday [Yahoo! Finance]

Forward Air Corporation (FWRD) 
Last forward air corporation earnings: 4/30 04:27 pm Check Earnings Report
US:NASDAQ Investor Relations: forwardair.gcs-web.com/investor-overview
Company Research Source: Yahoo! Finance
ET Thursday morning. Heading into the fourth-quarter report, analysts forecast Forward Air would earn $3.94 per share on sales of $667.4 million. Forward Air surprised its shareholders by reporting a $1.23-per-share loss , however, and sales were also weaker than expected, at $632.8 million. Forward Air's big Q4 loss CFO Jamie Pierson said Forward Air took a $79 million goodwill impairment to the Q4 earnings of its Omni Logistics business, which was smaller than expected and "favorably impacted the quarter." On the other hand, Forward's "Expedited Freight segment was negatively impacted by [focusing] more on growing volume than profitability." And that hurt results. Ultimately, Forward Air doubled its Q4 2023 loss, and cash flow turned negative. For the full year, acquiring Omni helped grow Forward Air's revenue 80%, to $2.5 billion. Net income, however, was negative at a $29.43-per-share loss. Is Forward Air stock a buy? Forward Air didn't give guidance for what it ex Show less Read more
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