secwatch.observer — SEC 8-K summary
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Issuer:     FORWARD AIR CORP (FWRD)
CIK:        0000912728
Form:       8-K
Filed at:   2026-05-07T23:59:59+00:00
Accession:  0001628280-26-032056
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912728/000162828026032056/0001628280-26-032056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912728/000162828026032056/fwrd-20260507.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-032056

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