Forward Air Q1 op income rises to $20M; net loss $40M; customer transition risk ~$250M rev

FORWARD AIR CORP

2026-Q1 EPS reported -$1.09 revenue$582,046,000

Q1 revenue $582M (-5.1% YoY); income from operations $20.4M vs $4.8M YoY; net loss $40.2M ($1.09 loss per share) improved from $61.2M loss.
Expedited Freight EBITDA $28M (10.4% margin); Omni $25M (8.3%); Intermodal $5M (10.1%) down from $10M YoY.
Liquidity $402M ($141M cash + $261M availability); cash from ops $46M vs $28M YoY.
One customer (~$250M 2025 revenue) may transition business starting early 2027; no termination notice yet.
Board ended strategic sale review with no proposals; now pursuing sale of Intermodal segment and two smaller Omni businesses.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FORWARD AIR CORP reported the three months ended March 31, 2026 results: revenue $582,046, net income $(40,198), EPS $(1.09).

Period: the three months ended March 31, 2026
Revenue: $582,046
Net income: $(40,198)
EPS: $(1.09)
Result: reported results

Exact text from the filing

release of our first quarter 2026 results.” 2 Three Months Ended (in thousands, except per share data) March 31, 2026 March 31, 2025 Change Percent Change Operating revenues $ 582,046 $ 613,281 $ (31,235) (5.1) % Income from operations $ 20,441 $ 4,763 $ 15,678 329.2 % Operating margin 3.5 % 0.8 % 270 bps Net loss $ (40,198) $ (61,191) $ 20,993 34.3 % Net loss

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45 earnings releases filed in the last 30 days. Browse all earnings releases →

FORWARD AIR CORP filing history →

Source: SEC EDGAR

accession 0001628280-26-032056

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