FWRD
Forward Air Corporation
NASDAQ · Industrials · Integrated Freight & Logistics · US
$17.89
+9.69%Income statement
| Metric | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | |||||
| Total Revenue | 2.5B | 2.5B | 2.5B | 1.4B | 1.7B |
| Cost of Revenue | 2.3B | 2.0B | 2.1B | 1.0B | 1.2B |
| Gross Profit | 267.9M | 510.9M | 339.7M | 330.2M | 491.7M |
| Operating Expenses | |||||
| R&D Expense | — | — | — | — | — |
| SG&A Expense | 15.7M | — | 64.7M | 50.1M | 47.5M |
| General & Admin Expense | 15.7M | — | 64.7M | 50.1M | 47.5M |
| Selling & Marketing Expense | — | — | — | — | — |
| Other Expenses | 420.9M | 474.5M | 1.3B | 191.8M | 196.6M |
| Total Operating Expenses | 436.6M | 474.5M | 1.4B | 241.9M | 244.1M |
| Cost and Expenses | 2.7B | 2.5B | 3.5B | 1.3B | 1.4B |
| Operating Income (EBIT) | (168.7M) | 36.4M | (1.1B) | 88.2M | 247.6M |
| Non-Operating | |||||
| Interest Income | — | — | — | — | — |
| Interest Expense | 90.0M | 180.7M | 189.2M | 31.6M | 5.1M |
| Net Interest Income | (90.0M) | (180.7M) | (189.2M) | (31.6M) | (5.1M) |
| Other Non-Op Income/Expense | (182.2M) | (183.6M) | (186.9M) | (31.6M) | (5.1M) |
| Non-Operating Income (excl Interest) | 94.2M | 2.9M | (2.3M) | — | — |
| EBT (Pre-Tax Income) | (350.9M) | (147.2M) | (1.2B) | 56.6M | 242.5M |
| Income Tax Expense | (6.7M) | (5.5M) | (125.0M) | 13.8M | 63.0M |
| Bottom Line | |||||
| Net Income | (286.2M) | (107.8M) | (817.0M) | 167.4M | 193.2M |
| Earnings from Cont. Ops | (344.2M) | (141.7M) | (1.1B) | 42.8M | 179.4M |
| Earnings from Discont. Ops | (2.1M) | — | (6.4M) | 124.5M | 13.8M |
| Bottom Line Net Income | (286.2M) | (107.8M) | (817.0M) | 11.3M | 192.1M |
| Per Share | |||||
| Basic EPS | ($8.92) | ($3.48) | ($29.43) | $0.44 | $7.18 |
| Diluted EPS | ($8.92) | ($3.48) | ($29.66) | $0.43 | $7.14 |
| Revenue Per Share | $77.52 | $80.56 | $89.84 | $52.90 | $62.71 |
| Shares | |||||
| Basic Shares Outstanding | 32.5M | 31.0M | 27.5M | 25.9M | 26.8M |
| Diluted Shares Outstanding | 32.5M | 31.0M | 27.5M | 26.0M | 26.9M |
| Profitability Metrics | |||||
| EBITDA | (107.7M) | 186.2M | (916.6M) | 145.6M | 290.1M |
| D&A | 155.3M | 152.6M | 144.0M | 57.4M | 42.6M |
| EBIT | (262.9M) | 33.5M | (1.1B) | 88.2M | 247.6M |
As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026