Forward Air Corporation (FWRD)
NASDAQ: FWRD · Real-Time Price · USD
17.39
+0.23 (1.34%)
At close: Nov 13, 2026, 4:00 PM EST
17.42
+0.03 (0.17%)
After-hours: Nov 13, 2026, 6:00 PM EST
Forward Air Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
| 2,560 | 2,495 | 2,474 | 1,371 | 1,680 | 1,387 | |
Revenue Growth | 2.54% | 0.84% | 80.51% | -18.39% | 21.08% | 9.27% |
Cost of Revenue | 1,994 | 2,004 | 1,991 | 983.18 | 1,145 | 1,038 |
Gross Profit | 566.07 | 490.82 | 483.63 | 387.56 | 534.22 | 348.92 |
Selling, General & Admin | 56.14 | 58.97 | 64.68 | 50.13 | 47.48 | 39.41 |
Other Operating Expenses | 199.49 | 191.55 | 228.04 | 191.81 | 196.6 | 127.52 |
Operating Expenses | 410.67 | 403.15 | 436.7 | 299.35 | 286.63 | 201.9 |
Operating Income | 155.4 | 87.66 | 46.93 | 88.21 | 247.59 | 147.03 |
Interest Expense | -176.5 | -180.75 | -189.22 | -31.57 | -5.14 | -4.34 |
Currency Exchange Gain (Loss) | 0.01 | -5.89 | 1.09 | - | - | - |
Other Non Operating Income (Expenses) | 2.79 | 3.02 | 1.23 | - | - | - |
EBT Excluding Unusual Items | -18.31 | -95.96 | -139.97 | 56.64 | 242.45 | 142.69 |
Merger & Restructuring Charges | -31.47 | -31.47 | -81.47 | - | - | - |
Impairment of Goodwill | -244.01 | - | -1,028 | - | - | - |
Gain (Loss) on Sale of Assets | 10.63 | - | - | - | - | - |
Asset Writedown | -19.77 | -19.77 | - | - | - | - |
Other Unusual Items | -15.49 | - | - | - | - | - |
Pretax Income | -318.41 | -147.2 | -1,250 | 56.64 | 242.45 | 142.69 |
Income Tax Expense | -7.06 | -5.47 | -124.99 | 13.84 | 63.04 | 35.81 |
Earnings From Continuing Operations | -311.35 | -141.73 | -1,125 | 42.8 | 179.41 | 106.88 |
Earnings From Discontinued Operations | -2.08 | - | -6.39 | 124.55 | 13.78 | -1.02 |
Net Income to Company | -313.42 | -141.73 | -1,131 | 167.35 | 193.19 | 105.86 |
Minority Interest in Earnings | 54.86 | 33.93 | 314.26 | - | - | - |
Net Income | -258.57 | -107.8 | -816.97 | 167.35 | 193.19 | 105.86 |
Preferred Dividends & Other Adjustments | - | - | 26.55 | 0.86 | 1.07 | 0.74 |
Net Income to Common | -258.57 | -107.8 | -843.52 | 166.49 | 192.12 | 105.12 |
Net Income Growth | - | - | - | -13.34% | 82.76% | 350.24% |
Shares Outstanding (Basic) | 32 | 31 | 28 | 26 | 27 | 27 |
Shares Outstanding (Diluted) | 32 | 31 | 28 | 26 | 27 | 27 |
Shares Change | 6.85% | 11.54% | 5.91% | -3.43% | -1.34% | -1.46% |
EPS (Basic) | -8.01 | -3.51 | -30.63 | 6.43 | 7.17 | 3.87 |
EPS (Diluted) | -8.03 | -3.51 | -30.63 | 6.40 | 7.14 | 3.85 |
EPS Growth | - | - | - | -10.38% | 85.37% | 357.70% |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 31.85 | 15.27 | -112.46 | 150.66 | 219.84 | 81.89 |
Free Cash Flow Per Share | 0.99 | 0.50 | -4.08 | 5.79 | 8.16 | 3.00 |
Dividend Per Share | - | - | - | 0.960 | 0.960 | 0.840 |
Dividend Growth | - | - | - | 0% | 14.29% | 12.00% |
Gross Margin | 22.11% | 19.67% | 19.55% | 28.27% | 31.80% | 25.15% |
Operating Margin | 6.07% | 3.51% | 1.90% | 6.44% | 14.74% | 10.60% |
Profit Margin | -10.10% | -4.32% | -34.09% | 12.15% | 11.44% | 7.58% |
Free Cash Flow Margin | 1.24% | 0.61% | -4.54% | 10.99% | 13.09% | 5.90% |
EBITDA | 310.45 | 240.3 | 190.91 | 145.62 | 287.59 | 179.6 |
EBITDA Margin | 12.13% | 9.63% | 7.72% | 10.62% | 17.12% | 12.95% |
D&A For EBITDA | 155.05 | 152.64 | 143.98 | 57.41 | 39.99 | 32.57 |
EBIT | 155.4 | 87.66 | 46.93 | 88.21 | 247.59 | 147.03 |
EBIT Margin | 6.07% | 3.51% | 1.90% | 6.44% | 14.74% | 10.60% |
Effective Tax Rate | - | - | - | 24.43% | 26.00% | 25.09% |