FWRD FORWARD AIR CORP revenue, earnings and financials

For the quarter ended June 30, 2026, FORWARD AIR CORP reported revenue of $673M (up 8.8% from a year earlier), net income of −$207M and diluted EPS of −$6.38; over the last four quarters revenue was $2.52B and net income −$282M; for the fiscal year ended December 2025 revenue was $2.50B, up 0.8% on the year before.

FWRD annual revenue and earnings

• Fiscal year ended Dec 2025: revenue $2.50B, gross profit n/a, operating income $36.4M, net income −$104M (margin -4.2%), EPS −$3.51
• Fiscal year ended Dec 2024: revenue $2.47B, gross profit n/a, operating income −$1.06B, net income −$820M (margin -33.1%), EPS −$30.63
• Fiscal year ended Dec 2023: revenue $1.37B, gross profit n/a, operating income $88.2M, net income $167M (margin 12.2%), EPS $6.40
• Fiscal year ended Dec 2022: revenue $1.68B, gross profit n/a, operating income $248M, net income $193M (margin 11.5%), EPS $7.14
• Fiscal year ended Dec 2021: revenue $1.39B, gross profit n/a, operating income $147M, net income $106M (margin 7.6%), EPS $3.85

FWRD quarterly revenue and earnings

• Quarter ended Jun 30, 2026: revenue $673M (up 8.8% year over year), net income −$207M, EPS −$6.38
• Quarter ended Mar 31, 2026: revenue $582M (down 5.1% year over year), net income −$34.3M, EPS −$1.09
• Quarter ended Dec 31, 2025 (from the annual report): revenue $631M (down 0.3% year over year), net income −$24.5M, EPS −$0.90
• Quarter ended Sep 30, 2025: revenue $632M (down 3.7% year over year), net income −$16.3M, EPS −$0.52
• Quarter ended Jun 30, 2025: revenue $619M (down 3.9% year over year), net income −$12.6M, EPS −$0.41
• Quarter ended Mar 31, 2025: revenue $613M (up 13.2% year over year), net income −$50.6M, EPS −$1.68
• Quarter ended Dec 31, 2024: revenue $633M (up 87.0% year over year), net income −$36.4M, EPS −$1.24
• Quarter ended Sep 30, 2024: revenue $656M (up 92.4% year over year), net income −$73.4M, EPS −$2.66
• Quarter ended Jun 30, 2024: revenue $644M (up 92.9% year over year), net income −$645M, EPS −$23.47
• Quarter ended Mar 31, 2024: revenue $542M (up 51.5% year over year), net income −$61.7M, EPS −$2.81
• Quarter ended Dec 31, 2023: revenue $338M (down 16.0% year over year), net income $102M, EPS $3.93
• Quarter ended Sep 30, 2023: revenue $341M (down 21.3% year over year), net income $9.29M, EPS $0.36
• Quarter ended Jun 30, 2023: revenue $334M (down 24.6% year over year), net income $20.0M, EPS $0.76
• Quarter ended Mar 31, 2023: revenue $358M (down 10.8% year over year), net income $36.4M, EPS $1.37
• Quarter ended Dec 31, 2022: revenue $403M (up 118.2% year over year), net income $42.9M, EPS $1.60
• Quarter ended Sep 30, 2022: revenue $433M (up 3.2% year over year), net income $52.1M, EPS $1.93
• Quarter ended Jun 30, 2022: revenue $442M (up 5.1% year over year), net income $55.4M, EPS $2.04
• Quarter ended Mar 31, 2022: revenue $401M (up 10.8% year over year), net income $42.7M, EPS $1.57
• Quarter ended Dec 31, 2021 (from the annual report): revenue $185M, net income $40.6M, EPS $1.48
• Quarter ended Sep 30, 2021: revenue $420M, net income $23.5M, EPS $0.86

FWRD cash flow, buybacks and dividends

• Fiscal year ended Dec 2025: operating cash flow n/a, share buybacks $0, dividends $0.00 per share
• Fiscal year ended Dec 2024: operating cash flow n/a, share buybacks $0, dividends $0.00 per share
• Fiscal year ended Dec 2023: operating cash flow n/a, share buybacks $93.8M, dividends $0.96 per share
• Fiscal year ended Dec 2022: operating cash flow n/a, share buybacks $62.8M, dividends $0.96 per share
• Fiscal year ended Dec 2021: operating cash flow n/a, share buybacks $49.0M, dividends $0.84 per share

FWRD balance sheet

• Jun 30, 2026: cash $139M, total assets $2.41B, total liabilities $2.53B, shareholders' equity −$115M, long-term debt $1.69B
• Mar 31, 2026: cash $141M, total assets $2.70B, total liabilities n/a, shareholders' equity $81.0M, long-term debt $1.69B
• Dec 31, 2025: cash $106M, total assets $2.72B, total liabilities $2.56B, shareholders' equity $113M, long-term debt $1.69B
• Sep 30, 2025: cash $140M, total assets $2.79B, total liabilities n/a, shareholders' equity $140M, long-term debt $1.68B
• Jun 30, 2025: cash $95.1M, total assets $2.76B, total liabilities n/a, shareholders' equity $152M, long-term debt $1.68B
• Mar 31, 2025: cash $116M, total assets $2.80B, total liabilities n/a, shareholders' equity $155M, long-term debt $1.68B
• Dec 31, 2024: cash $105M, total assets $2.80B, total liabilities n/a, shareholders' equity $202M, long-term debt $1.68B
• Sep 30, 2024: cash $137M, total assets $3.06B, total liabilities n/a, shareholders' equity $226M, long-term debt $1.67B

What is FWRD's revenue?

FORWARD AIR CORP reported $2.52B of revenue over its last four quarters, through June 30, 2026.

Is FWRD profitable?

No. FORWARD AIR CORP lost $282M over the last four quarters.

What is FWRD's EPS?

Diluted earnings per share over the last four quarters were −$8.89; −$6.38 in the latest quarter.

Does FWRD pay a dividend?

FORWARD AIR CORP paid $0.96 per share in dividends in the fiscal year ended December 2023.

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