Weakness In Air Freight Markets Make Forward Air Questionable
Feb. 4, 2015, 4:48 PM
- Forward Air (NASDAQ:FWRD) agrees to acquire trucking provider Towne, whose airport-to-airport network provides delivery service to 61 service points, for $125M.
- FWRD also sees Q4 EPS of $0.54-$0.56 on revenue of $214M, below analyst consensus of $0.63 EPS and $215.6M; for FY 2015, sees EPS of $2.26-$2.50 vs. $2.41 consensus, with revenues, including Towne, to increase by 26%-28% Y/Y.
Forward Air Corp. provides surface transportation and related logistics services to air freight market. The company also provides scheduled surface transportation of cargo as an alternative to air transportation; and brokerage transportation services. Its logistics and other services include... More
Industry: Air Delivery & Freight Services
Country: United States
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