Forward Air reports Q3 2017 results and quarterly cash dividend

Forward Air Corporation (NASDAQ:FWRD) has reported operating revenue, income from operations, net income and diluted earnings per share for the three and nine months ended September 30, 2017, the company said.

Operating revenue for the quarter ended September 30, 2017 increased 12.3% to USD 280.2 million from USD 249.6 million for the same quarter in 2016. Income from operations was USD 26.9 million, compared to USD 24.7 million in the prior year quarter. Net income during the period was USD 18.2 million compared to USD 11.9 million in the third quarter of 2016.

Net income per diluted share for the third quarter of 2017 was USD 0.60 compared to USD 0.39 in the prior year quarter. Adjusted to exclude the impact of the second quarter 2016 TQI impairment on income taxes, prior year quarter adjusted earnings per share was USD 0.51.

On October 24, 2017, the Board of Directors declared a quarterly cash dividend of USD 0.15 per share of common stock. The dividend is payable to shareholders of record at the close of business on November 23, 2017, and is expected to be paid on December 8, 2017.

Forward Air keeps your business moving forward by providing services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Premium Services (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). For more information, visit https://www.forwardaircorp.com.