Overview

* Forward Air Q3 revenue declined 3.7% yr/yr, missing analyst expectations

* Omni segment revenue rose $5 mln to $340 mln, driven by diversified services

* Company's liquidity improved to $413 mln, aided by strong cash from operations

Outlook

* Company did not provide specific guidance for future quarters or full year in its press release

Result Drivers

* OMNI SEGMENT - Strong performance with highest revenue and EBITDA since acquisition, driven by demand for diversified services

* EXPEDITED FREIGHT MARGINS - Stable margins with 11.5% EBITDA margin, second highest since Q4 2023, due to cost optimization and integration efforts

* LIQUIDITY IMPROVEMENT - Liquidity increased to $413 mln, supported by strong cash flow from operations

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $631.76 $640 mln

Operatin mln (5

g Analysts

Revenue )

Q3 EPS -$0.52

Q3 $77.68

EBITDA mln

Q3 Free $48.89

Cash mln

Flow

Q3 2.40%

Operatin

g Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the courier, postal, air freight & land-based logistics peer group is "buy"

* Wall Street's median 12-month price target for Forward Air Corp (Delaware) ( FWRD ) is $35.00, about 48.2% above its November 4 closing price of $18.14

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)