Forward Air Reports Higher 2Q Income

Forward Air Corp. said late Thursday its second-quarter net income rose to $7.9 million, or 27 cents per share, from $2.8 million, or 10 cents, a year ago.

Revenue rose 22.5% to $122.1 million, while income from operations jumped to $13.5 million, from $4.9 million a year ago.

The income gain topped the 13% to 18% increase over a year ago that the company had forecast.

Third-quarter revenue will increase 20% to 25% from a year ago, while income will be 28 to 32 cents per share, up from 13 cents in last year’s third quarter, Chief Financial Officer Rodney Bell said in a statement.

Forward Air, a contractor to the air cargo industry, is ranked No. 55 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.