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Forward Air FWRD Expedited Freight Segment — Operating Income (Loss)

Other segment segments

Intermodal Segment
$1.22M-77.9%
Omni Logistics
$730K-78.4%

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Other financials

Income statement

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Revenue$582.0M-5.1%
Operating income$20.4M+329%
Net income-$34.3M+32.2%
EPS (diluted)-$1.09+35.1%

Balance sheet

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Cash & equivalents$141.0M+20.9%
Total debt$2.2B-0.1%
Total equity$81.0M-47.6%
Total assets$2.7B-3.9%

Cash flow

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Operating cash flow$45.7M+65.6%
CapEx$6.9M-41.7%
Free cash flow$38.8M+147%

Valuation

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Market cap$451.92M-33.0%
Enterprise value$2.46B-9.2%
P/S0.2×-0.1×

Profitability

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Gross margin48.7%—
Operating margin2.2%+1.1pp
Net margin-3.7%-1.7pp
FCF margin0.6%+0.3pp

Returns & leverage

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Return on equity-77.6%-25.2pp
Debt / equity26.5×+12.6×
Current ratio1.2×+0.1×

Where this comes from

Reported directly by Forward Air in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The official record: Forward Air’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Forward Air's expedited freight segment — operating income (loss)?
Forward Air (FWRD) reported expedited freight segment — operating income (loss) of $20.05M in Q1 2026.
How has Forward Air's expedited freight segment — operating income (loss) changed year-over-year?
Forward Air's expedited freight segment — operating income (loss) increased by 28.2% year-over-year, from $15.63M to $20.05M.
What is the long-term trend for Forward Air's expedited freight segment — operating income (loss)?
Over 4 years (2021 to 2025), Forward Air's expedited freight segment — operating income (loss) has grown at a -13.9% compound annual growth rate (CAGR), from $127.05M to $69.78M.
What does expedited freight segment — 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.