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.
Forward Air CorporationRecord $673M revenue and doubled adjusted operating income offset by a $244M Omni Logistics goodwill impairment and $201M operating loss.
Harbin Electric