Forward Air Reports Higher 3Q Income

Forward Air Corp. said late Wednesday its third-quarter net income rose to $8.9 million, or 31 cents per share, from $3.8 million, or 13 cents, a year ago.

Revenue rose 17.8% to $121.5 million, while income from operations jumped to $15.5 million, from $6.7 million a year ago.

Fourth-quarter revenue will increase 12% to 17% from a year ago, while income will be 35 to 39 cents per share, up from 22 cents in last year’s fourth quarter, Chief Financial Officer Rodney Bell said in a statement.

Forward Air, a contractor to the air cargo industry, is ranked No. 52 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.