secwatch.observer — SEC 8-K summary
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Issuer:     FORWARD AIR CORP (FWRD)
CIK:        0000912728
Form:       8-K
Filed at:   2026-02-23T23:59:59+00:00
Accession:  0001628280-26-010569
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912728/000162828026010569/0001628280-26-010569-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912728/000162828026010569/fwrd-20260223.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-010569

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer