Forward Air quarterly profit off 4.6pc to US$12.3 million, sales up 5.7pc

TENNESEE air cargo company Forward Air Corp posted a 4.6 per cent year-on-year decline in third quarter profit to US$12.3 million, drawn on revenues of 143.5 million, an increase of 5.7 per cent.

"The company has continued to experience choppiness in our daily tonnage numbers but there were some signs of firming last week," said Forward Air CEO Bruce Campbell.

"With limited visibility and realising that one week certainly doesn't make a trend, we remain cautiously optimistic that volumes will continue to improve," Mr Campbell added.

The company expects revenues to increase five to eight per cent in the fourth quarter.

Forward Air provides ground transportation services to cargo carriers and airlines through a network of terminals in the US and Canada.