---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-035544"
form_type: "8-K"
ticker: "FWRD"
cik: "0000912728"
company_name: "FORWARD AIR CORP"
filed_at: "2023-10-30T23:59:59+00:00"
generated_at: "2026-06-09T06:31:30.998599+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Forward Air Q3 revenue down 19%; adjusted EPS $0.99; Q4 guidance weak

## Summary
- Revenue $413.4M (-18.9% YoY); net income $9.3M ($0.36 diluted EPS).
- Adjusted net income per diluted share $0.99 vs $1.93 GAAP in prior year.
- Q4 2023 guidance: revenue decline 7-17% YoY; adjusted EPS $0.98-$1.02 vs $1.65 prior.
- Board declares $0.24/share quarterly dividend, payable Dec 7 to holders Nov 22.
- Company accelerating strategic portfolio review; LTL volumes improve, intermodal weak.

## SEC filing metadata
- accession: 0001628280-23-035544
- form_type: 8-K
- ticker: FWRD
- cik: 0000912728
- company_name: FORWARD AIR CORP
- filed_at: 2023-10-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912728/000162828023035544/0001628280-23-035544-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912728/000162828023035544/fwrd-20231030.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-035544
- JSON: https://secwatch.observer/filing/0001628280-23-035544.json
- Plain text: https://secwatch.observer/filing/0001628280-23-035544.txt

## Key facts
- Earnings Releases
  FORWARD AIR CORP reported three and nine months ended September 30, 2023 results: revenue $413,447, net income $9,288, EPS $0.36. Guidance lowered.
  - Period: three and nine months ended September 30, 2023
  - Revenue: $413,447
  - Net income: $9,288
  - EPS: $0.36
  - Guidance: lowered
  - Result: reported results
  source text: of $1.65 in the fourth quarter of 2022.” Three Months Ended (in thousands, except per share data) September 30, 2023 September 30, 2022 Change Percent Change Operating revenue $ 413,447 $ 510,023 $ (96,576) (18.9) % Income from operations $ 15,493 $ 71,665 $ (56,172) (78.4) % Operating margin 3.7 % 14.1 % (1,040) bps Net income $ 9,288 $ 52,133 $ (42,845) (82.2)
  evidence_url: https://www.sec.gov/Archives/edgar/data/912728/000162828023035544/0001628280-23-035544-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.