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Forward Air FWRD Intermodal Segment — Operating Income (Loss)

Other segment segments

Expedited Freight Segment
$20.05M+28.2%
Omni Logistics
$730K-78.4%

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$60.97M-25.1%

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 intermodal segment — operating income (loss)?
Forward Air (FWRD) reported intermodal segment — operating income (loss) of $1.22M in Q1 2026.
How has Forward Air's intermodal segment — operating income (loss) changed year-over-year?
Forward Air's intermodal segment — operating income (loss) decreased by 77.9% year-over-year, from $5.54M to $1.22M.
What is the long-term trend for Forward Air's intermodal segment — operating income (loss)?
Over 4 years (2021 to 2025), Forward Air's intermodal segment — operating income (loss) has grown at a -13.4% compound annual growth rate (CAGR), from $30.12M to $16.92M.
What does intermodal segment — operating income (loss) mean?
This is the core profitability metric for the intermodal segment, calculated as total operating revenues minus all direct operating expenses. It measures the segment's ability to generate value from its logistics services and its contribution to the company's consolidated operating profit.