Loading...
•
Jun 30, 2022
Forward Air Q2 2022 Earnings Report
Reported all-time record quarterly revenue, income from operations, and net income per diluted share.
Key Takeaways
Forward Air Corporation reported a strong second quarter in 2022, achieving record quarterly revenue, income from operations, and net income per diluted share. Revenue growth exceeded guidance, driven by the company's Grow Forward strategy.
Second quarter revenue growth of 23% exceeded the high end of guidance.
Net income per diluted share of $2.04 exceeded the high end of guidance.
Tonnage in the second quarter of 2022 was the same as the prior year quarter with 14.5% higher weight per shipment and 39.8% higher revenue per shipment.
Momentum continues in the first weeks of the third quarter with tonnage 3.0% higher than the same period of the prior year.
Forward Air
Forward Air
Forward Air Revenue by Segment
Revenue by Segment
Expedited Freight Revenue
CapyFin.comIntermodal Revenue
CapyFin.com Forward Guidance
The Company expects year-over-year revenue growth of 20% to 24% and net income per diluted share to be between $1.88 to $1.92 for the third quarter of 2022.
Positive Outlook
- Year-over-year revenue growth will be 20% to 24%.
- Net income per diluted share to be between $1.88 to $1.92.
- Momentum continues in the first weeks of the third quarter with tonnage 3.0% higher than the same period of the prior year
- Strong revenue growth across all lines of business driven by continued growth strategies
- Strong demand for our services and higher fuel surcharges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income