---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-039528"
form_type: "8-K"
ticker: "FWRD"
cik: "0000912728"
company_name: "FORWARD AIR CORP"
filed_at: "2025-08-11T23:59:59+00:00"
generated_at: "2026-05-17T15:59:45.017263+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Forward Air Q2 2025 revenue $619M; net loss $(0.41)/share; EBITDA margins improve

## Summary
- Revenue $618.8M, down 3.9% YoY from $643.7M; income from operations $19.5M vs loss $1.1B a year ago.
- Net loss from continuing ops $(20.4M) or $(0.41) diluted EPS, improving from $(966.5M) or $(23.29) in Q2 2024.
- Consolidated EBITDA (per credit agreement) $74M; last twelve months EBITDA $298M.
- Expedited Freight segment EBITDA margin highest in six quarters; pricing actions and cost controls cited.
- Liquidity $368M at June 30, 2025, down from $393M at Q1 end due to $34M semi-annual interest payment.

## SEC filing metadata
- accession: 0001628280-25-039528
- form_type: 8-K
- ticker: FWRD
- cik: 0000912728
- company_name: FORWARD AIR CORP
- filed_at: 2025-08-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912728/000162828025039528/0001628280-25-039528-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912728/000162828025039528/fwrd-20250811.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-039528
- JSON: https://secwatch.observer/filing/0001628280-25-039528.json
- Plain text: https://secwatch.observer/filing/0001628280-25-039528.txt

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