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Forward Air FWRD Expedited Freight — Operating Income (Loss)

Other segment segments

Omni Logistics
-$230.01M-3,301%
Intermodal
$6.1M+38.2%

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Other financials

Income statement

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Revenue$673.0M+8.8%
Operating income-$201.3M-1,131%
Net income-$207.3M-1,547%
EPS (diluted)-$6.38-1,456%

Balance sheet

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Cash & equivalents$139.4M+46.3%
Total debt$2.1B-2.4%
Total equity-$115.4M-176%
Total assets$2.4B-12.7%

Cash flow

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Operating cash flow$45.7M+65.6%
CapEx$3.2M-32.3%
Free cash flow$38.8M+147%

Valuation

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Market cap$653.66M-24.8%
Enterprise value$2.62B-10.6%
P/S0.3×-0.1×

Profitability

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Gross margin48.7%
Operating margin-6.6%-8.5pp
Net margin-11.4%+21.6pp
FCF margin0.6%+0.3pp

Returns & leverage

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Return on equity-77.6%-25.2pp
Debt / equity26.5×+12.6×
Current ratio1.3×+0.1×

Where this comes from

Reported directly by Forward Air in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Forward Air’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:07 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053329
Three Months Ended June 30, 2026Expedited FreightOmni LogisticsIntermodalCorporate and EliminationsTotal
Fuel expense3,6684572,541(22)6,644
Other operating expenses20,06820,0823,43111,99355,574
Impairment of goodwill244,006244,006
Segment profit (loss)$34,893$(230,010)$6,101$(12,296)$(201,312)
Interest expense, net(43,721)
Foreign exchange (loss) gain(566)
Other income (expense), net1,569
Loss from continuing operations before income taxes$(244,030)

Item 1. Financial Statements

FAQ

What is Forward Air's expedited freight — operating income (loss)?
Forward Air (FWRD) reported expedited freight — operating income (loss) of $34.89M in Q2 2026.
How has Forward Air's expedited freight — operating income (loss) changed year-over-year?
Forward Air's expedited freight — operating income (loss) increased by 79.0% year-over-year, from $19.5M to $34.89M.
What is the long-term trend for Forward Air's expedited freight — operating income (loss)?
Over 4 years (2021 to 2025), Forward Air's expedited freight — operating income (loss) has grown at a -13.9% compound annual growth rate (CAGR), from $127.05M to $69.78M.
What does expedited freight — operating income (loss) mean?
This represents the profitability of the expedited freight segment after accounting for all direct operating expenses. It is the primary measure of the segment's operational efficiency and its contribution to the overall corporate bottom line.

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