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Forward Air FWRD Net Income

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Other financials

Income statement

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Revenue$673.0M+8.8%
Operating income-$201.3M-1,131%
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:NetIncomeLoss.

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
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Loss from discontinued operations, net of tax(2,075)(2,075)
Net loss(245,931)(20,364)(286,129)(81,555)
Net loss attributable to noncontrolling interest(38,631)(7,781)(44,510)(18,335)
Net loss attributable to Forward Air$(207,300)$(12,583)$(241,619)$(63,220)
Basic and diluted net loss per share attributable to Forward Air:
Continuing operations$(6.33)$(0.41)$(7.49)$(2.09)
Discontinued operations(0.05)(0.05)
Net loss per basic and diluted share$(6.38)$(0.41)$(7.54)$(2.09)

Item 1. Financial Statements

FAQ

What is Forward Air's net income?
Forward Air (FWRD) reported net income of -$207.3M in Q2 2026.
How has Forward Air's net income changed year-over-year?
Forward Air's net income decreased by 1547.5% year-over-year, from -$12.58M to -$207.3M.
What is the long-term trend for Forward Air's net income?
Over 4 years (2021 to 2025), Forward Air's net income has grown at a 0.5% compound annual growth rate (CAGR), from $105.86M to -$107.8M.
What does net income mean?
The bottom line — total revenue minus all expenses, taxes, and costs. Represents the profit attributable to the company's shareholders after all obligations are met.

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