Forward Air Corp., a contractor to the air cargo industry, said its third-quarter profit fell 15% to $10.8 million or 36 cents a share, from $12.7million or 41 cents a year ago.
Revenue rose 8.1% to $97.7 million, the company said late Monday.
Forward Air said earlier this month that its third-quarter income would decline to 35 to 37 cents a share.
“Our core airport-to-airport business was impacted by the sluggish freight environment resulting in pressure on both our volumes and pricing yields,” Chief Executive Officer Bruce Campbell said in a statement.
Forward Air is ranked No. 66 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.