← Back

Forward Air Corporation

Forward Air Corporation is an asset-light freight and logistics company operating in the United States, Mexico, Europe, Asia, and Canada. It operates through three segments: Expedited Freight, Omni Logistics, and Intermodal. The Expedited Freight segment provides regional, inter-regional, and national less-than-truckload services, local pick-up and delivery, and other services such as shipment consolidation, warehousing, and customs brokerage. The Omni Logistics segment offers global logistics services including air and ocean freight forwarding, customs brokerage, warehousing, and time-definite transportation. The Intermodal segment provides container drayage and warehouse handling services. The company serves freight forwarders, third-party logistics companies, airlines, steamship lines, and retailers. Incorporated in 1981, it is headquartered in Dallas, Texas.

Country
Price · split & dividend adjusted
News & notes moving FWRD
FWRD

Forward Air Posts Record $673 Million Revenue, Swamped by $244 Million Omni Logistics Impairment

Forward Air reported the highest quarterly operating revenue in company history on August 5, posting $673 million in second quarter revenue, up 8.8% from $619 million a year earlier, but immediately buried that headline under a $244 million non-cash goodwill impairment tied to its Omni Logistics segment. The write-down dragged operating margin to negative 29.9% from positive 3.2% a year ago and produced a $201 million operating loss, while net loss from continuing operations widened to $243.9 million, or $6.33 per diluted share, compared with a loss of $20.4 million, or $0.41 per share, in the prior year period. Excluding the impairment, adjusted operating income came in at $42.7 million, more than double the $19.5 million reported in the second quarter of 2025, and consolidated EBITDA climbed to $93 million, a $14 million year-over-year improvement, reaching $319 million on a trailing twelve-month basis. The Expedited Freight segment delivered its best operating revenue, operating income, EBITDA and margin in two and a half years, while Intermodal posted its best EBITDA result in five quarters and its best margin in six, helped by recently enacted rate increases on several accounts. Liquidity ended the quarter at $401 million, split between $139 million in cash and $261 million of credit facility availability, up from $368 million a year earlier, though net cash used in operating activities was $4.9 million and free cash flow was negative $7.0 million.
FWRD
Insider Monkey·8dRead more →
FWRD▲2

Forward Air surges on deal to retain up to 75% of at-risk business

Forward Air shares surged 18.6% to a two-month high after the company entered into a non-binding memorandum of understanding with one of its largest customers to retain at least 50% of the business that had been at risk of shifting to other providers, with the potential to retain up to 75%. The customer generated approximately $250 million of Forward Air's fiscal 2025 revenue, and the agreement extends the contract for retained services by at least another two years, with any remaining transition expected to begin later in 2026 and mostly occur in December and throughout 2027. The deal could preserve $125 million to $187 million of annual revenue that investors had feared was largely at risk, improving earnings visibility, network utilization, cash flow outlook, and the ability to reduce leverage following the debt-heavy Omni Logistics acquisition.
FWRD ▲
Seeking Alpha·59dRead more →
© 2026 MarketDXAsset