Every 10-Q that Forward Air Corp (FWRD) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow FWRD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FWRD filings page.
Forward Air Corporation, an asset-light freight and logistics provider, generated Q2 2026 operating revenues of $673.0 million, up 8.8% year over year, led by higher tonnage and pricing in Expedited Freight and modest growth in Omni Logistics.
A non-cash $244.0 million goodwill impairment in Omni Logistics drove an operating loss of $201.3 million and a Q2 net loss attributable to Forward Air of $207.3 million, with a $241.6 million loss for the first half of 2026. Shareholders’ equity turned to a $122.7 million deficit; cash was $139.4 million, long‑term debt $1.69 billion, revolver availability $261 million, and operating cash flow for the half $40.9 million.
The company is executing a strategic review, including sales of two Omni Logistics business units, one closed in July 2026 for about $16.5 million with an expected $8–10 million gain, and is evaluating further non-core divestitures. Its largest customer contributed about 12% of 2026 year‑to‑date revenue; a July memorandum of understanding indicates Forward Air would retain roughly half, and potentially up to three‑quarters, of 2025 services revenue, with the remainder expected to transition to other suppliers beginning in December 2026.
Forward Air Corporation reported a Q1 2026 net loss of $40.2M, an improvement from a $61.2M loss a year earlier, on operating revenues of $582.0M, down 5.1%. Operating income rose to $20.4M from $4.8M as purchased transportation and compensation costs declined with softer volumes.
Segment results were mixed: Expedited Freight revenue grew 9.4% to $272.7M with better profitability, while Omni Logistics revenue fell 6.5% and Intermodal declined 15.0%. Total other expense increased, driven by a $16.7M charge to increase a Tax Receivable Agreement liability.
The company highlighted a key risk: its largest customer represented about 12% of Q1 2026 revenue and is in discussions to transition a significant portion of contract logistics business to other providers over transition periods of up to 24 months. The board ended its sale review without a buyer and is now pursuing potential sales of non-core assets, including the Intermodal segment and certain Omni businesses, to help deleverage. Cash rose to $141.0M with operating cash flow of $45.7M, and the leverage ratio of 5.44x remained within the 6.25x covenant.
Forward Air Corporation (FWRD) filed its Q3 2025 10‑Q, reporting a quarterly net loss. Operating revenue was $631,763 thousand, down from $655,937 thousand a year ago. Net loss attributable to Forward Air improved to $16,250 thousand, or $0.52 per share, versus $73,408 thousand, or $2.66 per share, last year. Operating income was $15,007 thousand, offset by net interest expense of $44,775 thousand.
For the first nine months, operating revenues were $1,863,888 thousand and net loss attributable to Forward Air was $79,470 thousand. Cash and cash equivalents were $140,354 thousand, and long‑term debt was $1,684,319 thousand. The revolving credit facility had $273 million available with no outstanding borrowings, and the company was in compliance with covenants. Shareholders’ equity was $195,842 thousand. By segment in Q3 2025, revenues were $234,383 thousand for Expedited Freight, $339,584 thousand for Omni Logistics, and $57,796 thousand for Intermodal. The parties reached an agreement in principle on a shareholder litigation settlement, subject to court approval, to be funded by D&O insurers.
Forward Air Corporation reported operating revenue of $618.8 million for the quarter ended June 30, 2025, a 3.9% decline year-over-year driven by lower Expedited Freight volumes. Operating income from continuing operations was $19.5 million, a marked improvement from a $1,095.8 million loss in Q2 2024 largely because there was no goodwill impairment this quarter. Omni Logistics revenue rose 5.3% to $328.3 million.
Despite operating profitability, the company recorded a net loss of $20.4 million, or $(0.41) per share, reflecting $45.3 million of net interest expense and a tax benefit that affected the period. Total assets were $2.761 billion and shareholders' equity declined to $216.2 million from $285.9 million at year-end 2024; accumulated deficit widened to $(402.5) million. The company continues Omni integration activities and the Board has initiated a strategic review of alternatives.