FWRD Q3 2023 Earnings — Forward Air Corporation Revenue & Financial Results | Market Cap Arena

FWRDForward Air Corporation

$706M

Q3 2023 Earnings

Industrials Integrated Freight & Logistics

Income Statement

Revenue

$341M-33.1% YoY

Gross Profit

$77M22.7% margin

Operating Income

$15M4.5% margin

Net Income

$9M2.7% margin

EPS (Diluted)

$0.36

QoQ Revenue Growth

+2.2%

Cash Flow

Operating Cash Flow

$30M

Free Cash Flow

$25M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$1.2B

Total Liabilities

$525M

Stockholders' Equity

$666M

Cash & Equivalents

$19M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$341M	$510M	-33.1%
Gross Profit	$77M	$146M	-47.0%
Operating Income	$15M	$72M	-78.4%
Net Income	$9M	$52M	-82.2%

Revenue Segments

Expedited Freight Segment

$351M85%

Intermodal Segment

$62M15%