---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-010569"
form_type: "8-K"
ticker: "FWRD"
cik: "0000912728"
company_name: "FORWARD AIR CORP"
filed_at: "2026-02-23T23:59:59+00:00"
generated_at: "2026-05-16T01:20:30.534041+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Forward Air Q4 operating loss of $2.9M; EBITDA improves to $77M, Omni segment strong

## Summary
- Revenue $631M flat YoY; operating loss of $2.9M vs $75.9M profit in Q4 2024.
- Net loss per diluted share ($0.91) vs ($1.23) YoY; full year cash from ops improved to $44M from ($69M).
- Q4 Consolidated EBITDA (non-GAAP) $77M vs $72M YoY; full year $307M vs $311M.
- Omni segment revenue $360M (+$34M YoY), EBITDA $36M (+$4M), margin 10%; Expedited Freight EBITDA margin 10.1% vs 6.6%.
- Intermodal segment EBITDA $7M vs $10M, margin 14.2% vs 17.5%; liquidity $367M.

## SEC filing metadata
- accession: 0001628280-26-010569
- form_type: 8-K
- ticker: FWRD
- cik: 0000912728
- company_name: FORWARD AIR CORP
- filed_at: 2026-02-23T23:59:59+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/912728/000162828026010569/0001628280-26-010569-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912728/000162828026010569/fwrd-20260223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-010569
- JSON: https://secwatch.observer/filing/0001628280-26-010569.json
- Plain text: https://secwatch.observer/filing/0001628280-26-010569.txt

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