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Forward Air Net Up 5.5 Percent

Forward Air, gaining business as expedited shipping moved from air to ground, reported a $12.1 million net profit in the second quarter that was 5.5 percent ahead of last year.

The Greeneville, Tenn.-based air freight trucker said Tuesday that its operating revenue jumped 30.5 percent over last year's second quarter, to $121.6 million, including a 40 percent jump in logistics revenue.

But the airport-to-airport revenue also grew 15.6 percent to $89.2 million, expanding beyond a sharp gain in fuel expenses.

Forward Air said its shipment count grew 2 percent over last year's second quarter and said it gained volume from the airline industry, which has been slashing capacity this year. The trucker said it also has seen growth in larger shipments, which said Chairman, President and CEO Bruce Campbell suggested potential improvement in the broader national economy.

Campbell said Forward Air also gained from a "lack of truckload capacity in June in certain areas."

 

 




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