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FWRD

Forward Air·NASDAQ
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FWRD fundamentals

Forward Air (FWRD) released its earnings on Feb 23, 2026: revenue was 631.23M (YoY -0.26%), beat estimates; EPS was -0.91 (YoY +26.02%), missed estimates.
Revenue / YoY
631.23M
-0.26%
EPS / YoY
-0.91
+26.02%
Report date
Feb 23, 2026
FWRD Earnings Call Summary for Q4,2025
  • EBITDA Growth: Full-year EBITDA of $307 million, up 12% from 2024, driven by cost rationalization and operational efficiency.
  • Segment Strength: Expedited Freight margin improved 110 bps to 10.9%, Omni Logistics EBITDA doubled to $124 million, and Intermodal maintained stability.
  • Leverage and Recovery Readiness: Domestic network operating leverage allows incremental shipments to drive margin gains, with $367 million in liquidity for market recovery.
  • Strategic Initiatives: One Ground Network, ERP/HRIS consolidation, and global leadership expansion position the company for long-term growth.
  • Customer Focus: Contract logistics (15% of revenue) and high-tech/data center exposure drive growth, with EBITDA margin improving 360 bps to 9.2%.
EPS
Q3,2017
Q4,2017
Q1,2018
Q2,2018
Q3,2018
Q4,2018
Q1,2019
Q2,2019
Q3,2019
Q4,2019
Q1,2020
Q2,2020
Q3,2020
Q4,2020
Q1,2021
Q2,2021
Q3,2021
Q4,2021
Q1,2022
Q2,2022
Q3,2022
Q4,2022
Q1,2023
Q2,2023
Q3,2023
Q4,2023
Q1,2024
Q2,2024
Q3,2024
Q4,2024
Q1,2025
Q2,2025
Q3,2025
Q4,2025
Actual
0.30.330.670.550.61.111.141.41.572.041.931.651.370.910.990.81-0.64-23.29-2.62-1.23-0.35-0.0328-0.52-0.91
Forecast
0.40670.08330.430.72330.57330.97331.07331.30711.331.80881.90331.94111.29921.27151.11750.98060.0157-0.1833-0.17-0.178-0.5483-0.26-0.165-0.2617
Surprise
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
-26.24%
+296.16%
+55.81%
-23.96%
+4.66%
+14.05%
+6.21%
+7.11%
+18.05%
+12.78%
+1.40%
-15.00%
+5.45%
-28.43%
-11.41%
-17.40%
-4176.43%
-12605.95%
-1441.18%
-591.01%
+36.17%
+87.38%
-215.15%
-247.73%
Revenue
Q3,2017
Q4,2017
Q1,2018
Q2,2018
Q3,2018
Q4,2018
Q1,2019
Q2,2019
Q3,2019
Q4,2019
Q1,2020
Q2,2020
Q3,2020
Q4,2020
Q1,2021
Q2,2021
Q3,2021
Q4,2021
Q1,2022
Q2,2022
Q3,2022
Q4,2022
Q1,2023
Q2,2023
Q3,2023
Q4,2023
Q1,2024
Q2,2024
Q3,2024
Q4,2024
Q1,2025
Q2,2025
Q3,2025
Q4,2025
Actual
--------------------342.50M281.70M332.00M350.30M362.20M420.70M419.60M459.91M467.00M515.20M510.00M481.20M427.07M402.18M413.45M338.43M541.81M643.67M655.94M632.85M613.28M618.84M631.76M631.23M
Forecast
--------------------344.24M268.48M323.00M344.12M341.94M391.50M425.95M443.31M455.15M506.85M504.25M505.70M459.92M452.65M420.04M406.96M514.95M642.92M655.70M667.39M617.17M627.98M642.95M629.60M
Surprise
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
-0.51%
+4.92%
+2.79%
+1.80%
+5.93%
+7.46%
-1.49%
+3.74%
+2.60%
+1.65%
+1.14%
-4.84%
-7.14%
-11.15%
-1.57%
-16.84%
+5.22%
+0.12%
+0.04%
-5.18%
-0.63%
-1.46%
-1.74%
+0.26%

Earnings Call