{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-023133","form_type":"8-K","ticker":"FWRD","cik":"0000912728","company_name":"FORWARD AIR CORP","filed_at":"2025-05-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.779985+00:00","generated_at":"2026-05-22T10:19:36.010254+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Forward Air Q1 2025 revenue up 13.2% to $613M; operating income swings to $4.8M from -$65.7M","bullets":["Revenue $613M vs $542M YoY (+13.2%); income from operations improved $70.5M to $4.8M.","Net loss narrowed to $61.2M ($1.68/share) from $88.8M ($2.81/share) a year ago.","Expedited Freight segment: revenue per hundredweight (ex-fuel) up 4.3% sequentially and 2.5% YoY; EBITDA margin 10.4% (+400 bps vs Q4 2024).","Liquidity increased to $393M from $382M at Q4 2024 end; operating cash flow $27.6M vs -$51.7M YoY.","Consolidated EBITDA (credit agreement) $69M for Q1; LTM $313M with ~$66M covenant cushion."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-023133","json":"https://secwatch.observer/filing/0001628280-25-023133.json","markdown":"https://secwatch.observer/filing/0001628280-25-023133.md","text":"https://secwatch.observer/filing/0001628280-25-023133.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/912728/000162828025023133/0001628280-25-023133-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/912728/000162828025023133/fwrd-20250507.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T10:19:36.010254+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}