---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-017142"
form_type: "8-K"
ticker: "FWRD"
cik: "0000912728"
company_name: "FORWARD AIR CORP"
filed_at: "2025-04-09T23:59:59+00:00"
generated_at: "2026-05-23T18:46:15.642407+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Forward Air pre-announces Q1 2025 EBITDA $54M-$59M; liquidity rises to $392M

## Summary
- Preliminary consolidated EBITDA (non-GAAP) for Q1 2025 estimated between $54M and $59M.
- Liquidity at March 31, 2025 expected ~$392M, up ~$10M from $382M at Q4 2024.
- Estimates 10%-15% of 2024 revenue would have been impacted by recently announced IEEPA tariffs.
- Full Q1 2025 earnings release scheduled for May 7, 2025 after market close.

## SEC filing metadata
- accession: 0001628280-25-017142
- form_type: 8-K
- ticker: FWRD
- cik: 0000912728
- company_name: FORWARD AIR CORP
- filed_at: 2025-04-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912728/000162828025017142/0001628280-25-017142-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912728/000162828025017142/fwrd-20250409.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-017142
- JSON: https://secwatch.observer/filing/0001628280-25-017142.json
- Plain text: https://secwatch.observer/filing/0001628280-25-017142.txt

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