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Forward Air FWRD Expedited Freight Segment — Purchased transportation

Other segment segments

Omni Logistics
$168.92M-9.1%
Intermodal Segment
$19.34M-4.1%

Similar metrics at other companies

Covenant Logistics Group logo
CVLGExpedited — Revenue Equipment Rentals And Purchased Transportation
$15.08M-8.9%
FedEx logo
FDXFedEx Freight
Segment — Purchased transportation
$193M-4.5%
FedEx logo
FDXFederal Express segment — Purchased transportation
$5.67B+9.0%
United Parcel Service, Inc. logo
UPSInternational Segment — Purchased transportation
$949M+4.9%
Covenant Logistics Group logo
CVLGExpedited — Total Costs & Expenses
$81.85M-8.1%
Covenant Logistics Group logo
CVLGExpedited — Fuel Costs
$14.51M-2.8%

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:OperatingCostsAndExpenses.

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 — purchased transportation?
Forward Air (FWRD) reported expedited freight segment — purchased transportation of $141.68M in Q1 2026.
How has Forward Air's expedited freight segment — purchased transportation changed year-over-year?
Forward Air's expedited freight segment — purchased transportation increased by 17.4% year-over-year, from $120.68M to $141.68M.
What is the long-term trend for Forward Air's expedited freight segment — purchased transportation?
Over 3 years (2022 to 2025), Forward Air's expedited freight segment — purchased transportation has grown at a -7.7% compound annual growth rate (CAGR), from $624.99M to $491.92M.
What does expedited freight segment — purchased transportation mean?
This represents the costs incurred by the segment for utilizing third-party carriers or independent contractors to move freight. It is a key indicator of the company's asset-light strategy and reliance on external capacity to manage network volume.