Forward Air Q4 2020 Earnings Report
Key Takeaways
Forward Air Corporation reported record fourth-quarter revenue driven by growth strategies, despite a temporary interruption of operations due to a cyber attack and an increase to an earn-out liability related to a prior acquisition. Excluding these impacts, the company would have exceeded the high end of its net income per diluted share guidance range.
Record fourth quarter revenue achieved.
Agreement in principle reached for the sale of Pool Distribution.
Acquisition of Proficient Transport announced to strengthen Intermodal Drayage offering.
Organic growth continued into the first quarter with LTL tonnage up 10.9% and LTL shipments up 14.4% year-over-year through January.
Forward Air
Forward Air
Forward Air Revenue by Segment
Forward Guidance
The Company expects first quarter year-over-year revenue growth of 11% to 15%. They expect net income per diluted share to be between $0.55 to $0.59, which includes approximately $0.07 of professional fees related to cyber security and shareholder engagement activities.
Positive Outlook
- Expect first quarter year-over-year revenue growth of 11% to 15%.
- Expect net income per diluted share to be between $0.55 to $0.59.
Challenges Ahead
- Includes approximately $0.07 of professional fees related to cyber security and shareholder engagement activities.
- Compares to $0.41 in the first quarter of 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income