FWRD Q1 2023 Earnings — Forward Air Corporation Revenue & Financial Results | Market Cap Arena

FWRDForward Air Corporation

$706M

Q1 2023 Earnings

Industrials Integrated Freight & Logistics

Income Statement

Revenue

$358M-23.4% YoY

Gross Profit

$104M29.0% margin

Operating Income

$47M13.2% margin

Net Income

$36M10.2% margin

EPS (Diluted)

$1.37

QoQ Revenue Growth

-25.7%

Cash Flow

Operating Cash Flow

$66M

Free Cash Flow

$59M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$1.2B

Total Liabilities

$541M

Stockholders' Equity

$686M

Cash & Equivalents

$32M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$358M	$467M	-23.4%
Gross Profit	$104M	$116M	-10.8%
Operating Income	$47M	$57M	-17.7%
Net Income	$36M	$43M	-14.8%

Revenue Segments

Expedited Freight Segment

$339M79%

Intermodal Segment

$88M21%