GREENEVILLE, Tenn. (AP) — GREENEVILLE, Tenn. (AP) — Forward Air Corp. (FWRD) on Wednesday reported fourth-quarter earnings of $42.9 million.
On a per-share basis, the Greeneville, Tennessee-based company said it had profit of $1.60. Earnings, adjusted for non-recurring costs, were $1.65 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.
The contractor for the air cargo industry posted revenue of $481.2 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $503.2 million.
For the year, the company reported profit of $193.2 million, or $7.14 per share. Revenue was reported as $1.97 billion.
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