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Forward Air Cuts 1Q Outlook Below Street View

Stock quotes in this article: FWRD  

GREENEVILLE, Tenn. (AP) — Forward Air Corp., which offers surface transportation services, on Thursday slashed its first-quarter profit outlook as the economic slowdown continues to drag airport-to-airport revenues.

Forward Air cut its earnings per share guidance to 3 cents to 5 cents, down from its previous outlook of 10 cents to 15 cents per share.

The company said recent operating results and other market factors will result in an impairment charge in the first quarter. ...

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