The company says market conditions are improving and it is seeing momentum from transformational efforts.
The Intermodal segment is expected to benefit from a strong pipeline and recent strategic rate increases.
The company remains focused on executing its plan as market conditions improve.
Result drivers
Expedited Freight growth - The Expedited Freight segment reported its best operating revenue and income in two and a half years, according to CEO Shawn Stewart.
Omni Logistics demand - The Omni Logistics segment saw increased demand for contract logistics and air and ocean services, excluding the goodwill impairment impact.
Intermodal pipeline and rate increases - The Intermodal segment benefited from a strong pipeline and recently enacted strategic rate increases, according to CEO Stewart.
Quarterly results
US transportation provider's Q2 operating revenue rose 8.8%, beating analyst expectations.
The company reported a $244 million goodwill impairment, resulting in a Q2 operating loss.
Adjusted operating income more than doubled year over year, driven by the Expedited Freight segment.
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the courier, postal, air freight & land-based logistics peer group is "buy".
Wall Street's median 12-month price target for Forward Air Corp (Delaware) is $18.50, about 20.9% above its August 4 closing price of $15.30.
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