Forward Air Corporation (FWRD)

Forward Air Income Statement

Financials in millions USD. Fiscal year is January - December.

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	1,555	-	-	-	-	-
Revenue	1,555	1,371	1,680	1,387	1,270	1,215
Revenue Growth (YoY)	-0.99%	-18.39%	21.08%	9.27%	4.48%	6.82%
Cost of Revenue	1,192	983.18	1,145	1,038	1,003	924.99
Gross Profit	363.31	387.56	534.22	348.92	266.24	290.2
Selling, General & Admin	49.76	50.13	47.48	39.41	34.91	38.73
Depreciation & Amortization	76.82	57.41	42.55	34.97	37.13	36.39
Other Operating Expenses	145.73	134.32	196.6	127.52	120.28	102.69
Operating Expenses	272.31	241.86	286.63	201.9	192.31	177.81
Operating Income	91	145.7	247.59	147.03	73.92	112.38
Interest Expense	-69.97	-31.57	-5.14	-4.34	-4.56	-2.71
Currency Exchange Gain (Loss)	-0.67	-	-	-	-	-
Other Non Operating Income (Expenses)	0.01	-	-	-	-0	-0
EBT Excluding Unusual Items	20.37	114.13	242.45	142.69	69.36	109.67
Merger & Restructuring Charges	-115.72	-57.49	-	-	-	-
Other Unusual Items	-	-	-	-	-	0.03
Pretax Income	-95.35	56.64	242.45	142.69	69.36	109.7
Income Tax Expense	-15.45	13.84	63.04	35.81	16.59	27.38
Earnings From Continuing Operations	-79.9	42.8	179.41	106.88	52.77	82.32
Earnings From Discontinued Operations	122.08	124.55	13.78	-1.02	-29.03	4.78
Net Income to Company	42.19	-	-	-	-	-
Minority Interest in Earnings	27.08	-	-	-	-	-
Net Income	69.27	167.35	193.19	105.86	23.73	87.1
Preferred Dividends & Other Adjustments	12.54	0.86	1.07	0.74	0.39	0.95
Net Income to Common	56.73	166.49	192.12	105.12	23.35	86.15
Net Income Growth	-62.93%	-13.38%	82.50%	346.04%	-72.75%	-5.38%
Shares Outstanding (Basic)	26	26	27	27	28	28
Shares Outstanding (Diluted)	26	26	27	27	28	28
Shares Change (YoY)	-3.11%	-3.43%	-1.34%	-1.46%	-2.16%	-3.02%
EPS (Basic)	2.19	6.43	7.17	3.87	0.84	3.06
EPS (Diluted)	2.19	6.43	7.14	3.85	0.84	3.04
EPS Growth	-68.44%	-10.03%	85.37%	357.70%	-72.30%	-2.59%
Free Cash Flow	34.5	150.66	219.84	81.89	64.4	136.99
Free Cash Flow Per Share	1.33	5.79	8.16	3.00	2.33	4.84
Dividend Per Share	0.720	0.960	0.960	0.840	0.750	0.720
Dividend Growth	-25.00%	0%	14.29%	12.00%	4.17%	14.29%
Gross Margin	23.37%	28.27%	31.81%	25.15%	20.97%	23.88%
Operating Margin	5.85%	10.63%	14.74%	10.60%	5.82%	9.25%
Profit Margin	4.46%	12.21%	11.50%	7.63%	1.87%	7.17%
Free Cash Flow Margin	2.22%	10.99%	13.09%	5.90%	5.07%	11.27%
EBITDA	164.91	200.2	287.59	179.6	109	147.06
EBITDA Margin	10.61%	14.61%	17.12%	12.95%	8.59%	12.10%
D&A For EBITDA	73.91	54.5	39.99	32.57	35.07	34.68
EBIT	91	145.7	247.59	147.03	73.92	112.38
EBIT Margin	5.85%	10.63%	14.74%	10.60%	5.82%	9.25%
Effective Tax Rate	-	24.43%	26.00%	25.10%	23.92%	24.96%

Source: S&P Capital IQ. Standard template.