Second quarter earnings are turning out pretty good for publicly traded companies with East Tennessee connections — much to the surprise of analysts.
On Thursday, Greeneville-based air freight company Forward Air reported its 2Q profit nearly tripled and Maryville-based restaurant chain Ruby Tuesday reported a profit of $21 million, up 45 percent from a year ago.
Earlier this month, aluminum maker Alcoa reported a profit of $136 million, a reversal of fortune from a loss of $454M a year ago. Even First Horizon National Corp., parent of First Tennessee bank, has returned to profitability with a slender profit of $2.7 million, or 1 cent per share.
Will the trend continue? Will analysts predictions be any better?