Forward Air’s 1Q Income Rises

Forward Air Corp.’s first-quarter net income rose to $10.3 million, or 35 cents a share, from $7.9 million, or 27 cents, a year ago.

Revenue rose 14.1% to $137.1 million, the carrier said late Thursday.

Airport-to-airport revenue rose to $90.6 million, from $82.1 million, while logistics unit revenue improved to $21.3 million, from $16.5 million.

The company projected that its second-quarter revenue will increase by 8% to 12% over the same period a year ago. It also anticipated that its income will rise to between 43 and 47 cents per share in the second quarter, compared to 40 cents a year earlier.

Forward Air, a contractor to the air cargo industry, is ranked No. 46 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.