---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-021897"
form_type: "8-K"
ticker: "FWRD"
cik: "0000912728"
company_name: "FORWARD AIR CORP"
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T08:12:23.458945+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Forward Air Q1 net loss $88.8M; appoints Shawn Stewart CEO; Omni integration in progress

## Summary
- Q1 net loss of $88.8M ($2.35 diluted loss) vs net income of $33.9M ($1.27) in Q1 2023.
- Operating revenue $541.8M (+51.5%) includes $225M from Omni from Jan 25; Omni contributed ($5.9M) adjusted EBITDA.
- Appointed Shawn Stewart as CEO; he pledges to improve profitability and capture synergies.
- Legacy (ex-Omni) adjusted EBITDA declined 41% YoY; April showed 6% sequential revenue growth vs 15% decline in prior year.
- Cost synergies on track; full-year 2024 guidance to be provided on Q2 earnings call.

## SEC filing metadata
- accession: 0001628280-24-021897
- form_type: 8-K
- ticker: FWRD
- cik: 0000912728
- company_name: FORWARD AIR CORP
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912728/000162828024021897/0001628280-24-021897-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912728/000162828024021897/fwrd-20240508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-021897
- JSON: https://secwatch.observer/filing/0001628280-24-021897.json
- Plain text: https://secwatch.observer/filing/0001628280-24-021897.txt

## Key facts
- Earnings Releases
  FORWARD AIR CORP reported three months ended March 31, 2024 results: revenue $541,813, net income $(88,794), EPS $(2.35).
  - Period: three months ended March 31, 2024
  - Revenue: $541,813
  - Net income: $(88,794)
  - EPS: $(2.35)
  - Result: reported results
  source text: synergies are fully realized by the end of 2025.” Three Months Ended (in thousands, except per share data) March 31, 2024 March 31, 2023 Change Percent Change Operating revenue $ 541,813 $ 357,709 $ 184,104 51.5 % (Loss) income from operations $ (65,732) $ 47,196 $ (112,928) (239.3) % Operating margin (12.1) % 13.2 % (2,530) bps Net (loss) income $ (88,794) $
  evidence_url: https://www.sec.gov/Archives/edgar/data/912728/000162828024021897/0001628280-24-021897-index.htm

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