FORWARD AIR CORP
FWRDNasdaq
$13.75
↑ +1.5%Jul 17 close · end-of-day
Price
1Y↓ -49.4%
End-of-day closes; the latest point is the live 15-min-delayed price · split & dividend adjusted · chart by TradingView
Key statistics
Market Cap
$432.8M
Enterprise Value
$2.0B
P/E
—
P/S
0.2
P/B
5.3
EV/EBITDA
9.6
PEG
—
FCF Yield
—
Dividend Yield
—
Revenue (TTM)
$2.5B
Net Income (TTM)
-$87.7M
Free Cash Flow (TTM)
—
Gross Margin
—
Operating Margin
2.1%
Net Margin
-3.6%
ROE
-108.3%
ROIC
2.5%
Debt / Equity
20.9
Net Cash
-$1.5B
Return 1Y
-49.6%
Company profile
Forward Air Corporation operates as asset-light freight and logistics company in the United States and Canada. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services. The Intermodal segment provides intermodal container drayage services.
- CEO
- Thomas Schmitt
- Sector
- Transportation, Communications, Electric, Gas, And Sanitary Services
- Industry
- Transportation
- Employees
- 4,040
- Headquarters
- Tennessee
- Website
- forwardaircorp.com
Management & directors
- Stewart ShawnChief Executive Officer
- Pierson Jamie G.CFO
- Hance Michael LCLO and Secretary
- Osborne Timothy RExecutive VP of Operations
- Brandt Eric FrederickChief Commercial Officer
- Faught James R.Chief Accounting Officer
- Herren Jessica LChief Supply Chain Officer
- Lorrain Jerome Jean-PierreExecutive Chairman
- Smith Douglas JamesChief People Officer
Roles derived from SEC Form 4 filings.
Earnings
FWRD Q1 2026 Earnings
Period ends 2026-03-31
MetricActualYoY
Revenue$582.0M↓ -5.1%
Diluted EPS-$1.09↓ -35.1%
Actuals from SEC filings; YoY vs the year-ago quarter. Analyst estimates & surprise require a data feed (coming soon).
Financial statements
| Line item | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $1.3B | $1.4B | $1.7B | $1.4B | $2.5B | $2.5B |
| Gross profit | — | — | — | — | — | — |
| Operating income | $73.9M | $147.0M | $247.6M | $88.2M | -$1.1B | $36.4M |
| Net income | $23.7M | $106.0M | $193.0M | $167.0M | -$820.0M | -$104.0M |
| Diluted EPS | $0.84 | $3.85 | $7.14 | $6.40 | -$30.63 | -$3.51 |
| Operating cash flow | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Operating margin | 5.8% | 10.6% | 14.7% | 6.4% | -43.0% | 1.5% |
| Net margin | 1.9% | 7.6% | 11.5% | 12.2% | -33.1% | -4.2% |
| Line item | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $643.7M | $655.9M | $632.8M | $613.3M | $618.8M | $631.8M | $631.2M | $582.0M |
| Gross profit | — | — | — | — | — | — | — | — |
| Operating income | -$1.1B | $22.7M | $75.9M | $4.8M | $19.5M | $15.0M | -$2.9M | $20.4M |
| Net income | -$645.4M | -$73.4M | -$36.4M | -$50.6M | -$12.6M | -$16.3M | -$24.5M | -$34.3M |
| Diluted EPS | -$23.47 | -$2.66 | -$1.24 | -$1.68 | -$0.41 | -$0.52 | -$0.90 | -$1.09 |
| Operating cash flow | — | — | — | $27.6M | — | — | — | $45.7M |
| Free cash flow | — | — | — | $15.7M | — | — | — | $38.8M |
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | -170.2% | 3.5% | 12.0% | 0.8% | 3.2% | 2.4% | -0.5% | 3.5% |
| Net margin | -100.3% | -11.2% | -5.8% | -8.3% | -2.0% | -2.6% | -3.9% | -5.9% |
Company news
Jul 11, 2026
May 11, 2026
Analyst estimates
Coming soonConsensus revenue & EPS estimates and price targets will appear here once a forward-estimates data feed is connected.
Insider transactions
BoughtSoldMonthly insider $ volume · trailing 12 months
| Date | Insider | Type | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| 2026-06-18 | Boyles Dale W | Award | 9,545 | $0.00 | $0.00 | filing |
| 2026-06-18 | Svindland Paul C. | Award | 9,545 | $0.00 | $0.00 | filing |
| 2026-06-18 | Gorjanc Christine Marie | Award | 9,545 | $0.00 | $0.00 | filing |
| 2026-04-29 | Stewart Shawn· Chief Executive Officer | Tax withholding | 4,136 | $21.51 | $88,965.36 | filing |
| 2026-03-16 | Stewart Shawn· Chief Executive Officer | Award | 18,692 | $0.00 | $0.00 | filing |
| 2026-03-16 | Pierson Jamie G.· CFO | Award | 5,732 | $0.00 | $0.00 | filing |
| 2026-03-15 | Hance Michael L· CLO and Secretary | Tax withholding | 4,868 | $16.05 | $78,131.40 | filing |
| 2026-03-15 | OSBORNE TIMOTHY R· Executive VP of Operations | Tax withholding | 2,109 | $16.05 | $33,849.45 | filing |
| 2026-03-15 | Hance Michael L· CLO and Secretary | Tax withholding | 869 | $16.05 | $13,947.45 | filing |
| 2026-03-15 | OSBORNE TIMOTHY R· Executive VP of Operations | Tax withholding | 483 | $16.05 | $7,752.15 | filing |
| 2026-02-19 | Stewart Shawn· Chief Executive Officer | Tax withholding | 3,214 | $27.78 | $89,284.92 | filing |
| 2026-02-19 | Pierson Jamie G.· CFO | Tax withholding | 1,662 | $27.78 | $46,170.36 | filing |
| 2026-02-19 | Brandt Eric Frederick· Chief Commercial Officer | Tax withholding | 1,057 | $27.78 | $29,363.46 | filing |
| 2026-02-19 | Hance Michael L· CLO and Secretary | Tax withholding | 946 | $27.78 | $26,279.88 | filing |
| 2026-02-19 | Smith Douglas James· Chief People Officer | Tax withholding | 516 | $27.78 | $14,334.48 | filing |
| 2026-02-19 | OSBORNE TIMOTHY R· Executive VP of Operations | Tax withholding | 513 | $27.78 | $14,251.14 | filing |
| 2026-02-19 | HERREN JESSICA L· Chief Supply Chain Officer | Tax withholding | 436 | $27.78 | $12,112.08 | filing |
| 2026-02-19 | Faught James R.· Chief Accounting Officer | Tax withholding | 362 | $27.78 | $10,056.36 | filing |
| 2026-02-19 | OSBORNE TIMOTHY R· Executive VP of Operations | Award | 5,850 | $0.00 | $0.00 | filing |
| 2026-02-19 | Brandt Eric Frederick· Chief Commercial Officer | Award | 8,999 | $0.00 | $0.00 | filing |
| 2026-02-19 | Smith Douglas James· Chief People Officer | Award | 5,850 | $0.00 | $0.00 | filing |
| 2026-02-19 | Hance Michael L· CLO and Secretary | Award | 10,799 | $0.00 | $0.00 | filing |
| 2026-02-19 | HERREN JESSICA L· Chief Supply Chain Officer | Award | 4,950 | $0.00 | $0.00 | filing |
| 2026-02-19 | Stewart Shawn· Chief Executive Officer | Award | 43,197 | $0.00 | $0.00 | filing |
| 2026-02-19 | LORRAIN Jerome Jean-Pierre· Executive Chairman | Award | 10,799 | $0.00 | $0.00 | filing |
Showing the latest 25 transactions — full history in the linked SEC filings.
Fundamentals & filings from SEC EDGAR. Prices adjusted for splits & dividends. Not investment advice.