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Forward Air Corp. (FWRD)
NASDAQ:FWRD
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.38Last Year’s EPS
-0.35Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated multiple operational and financial improvements: strong adjusted EBITDA growth (+$40M), substantial Omni Logistics gains (EBITDA nearly doubled, margin +360 bps), Expedited Freight margin recovery (+110 bps full year; Q4 margin +350 bps) and a notable $113M year-over-year improvement in operating cash flow. These positives were tempered by persistent industry headwinds—declining tonnage, weak Intermodal results, a $20M software impairment, a slightly lower consolidated EBITDA year-over-year and ongoing uncertainty around the strategic alternatives review. Overall, the company emphasized transformation, cost discipline and positioning for recovery, and the tangible improvements in profitability, margins and cash generation outweigh the remaining challenges.Company Guidance
Adjusted EBITDA Improvement
Adjusted EBITDA increased $40 million year-over-year to $293 million in 2025 from $253 million in 2024, reflecting improved earnings quality as pro forma and synergy savings rolled off.
Stable Consolidated EBITDA and Strong Q4
Consolidated EBITDA for the full year was $307 million (essentially in line with $311 million in 2024). Fourth-quarter consolidated EBITDA improved to $77 million vs. $72 million in Q4 2024.
Omni Logistics Outperformance
Omni Logistics delivered record results since the acquisition (excluding goodwill impairment). Full-year reported EBITDA nearly doubled to $124 million in 2025 from $67 million in 2024, and margin expanded ~360 basis points to 9.2% from 5.6%.
Expedited Freight Margin and EBITDA Gains
Expedited Freight full-year reported EBITDA margin improved 110 basis points to 10.9% from 9.8% in 2024. Q4 reported EBITDA rose to $25 million from $18 million year-over-year and Q4 margin improved 350 basis points to 10.1% from 6.6%.
Cash Flow and Liquidity Improvement
Operating cash flow turned positive for the year: generated $44 million of cash from operating activities in 2025 vs. a $69 million use in 2024, a $113 million improvement year-over-year. End-of-year liquidity totaled $367 million ( $106 million cash + $261 million revolver availability).
Operational Transformation and Cost Actions
Company completed major operational initiatives including One Ground Network consolidation, Latin America regional structure, corrective pricing actions (shedding unprofitable freight), and cost-out actions that were applied retroactively to prior quarters under credit agreement adjustments.
Leadership and Technology Investments
Added senior leaders (President Latin America, President Asia Pacific, Chief Information Officer) and progressed technology transformation including a phased One ERP rollout (first phase completed, final phase expected by year-end) and global HRIS consolidation.
FWRD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FWRD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 23, 2026 | $25.28 | $26.43 | +4.55% |
Nov 05, 2025 | $17.69 | $20.90 | +18.15% |
Aug 11, 2025 | $28.57 | $29.12 | +1.93% |
May 07, 2025 | $17.23 | $17.27 | +0.23% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Forward Air Corp. (FWRD) report earnings?
Forward Air Corp. (FWRD) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is Forward Air Corp. (FWRD) earnings time?
Forward Air Corp. (FWRD) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FWRD EPS forecast?
FWRD EPS forecast for the fiscal quarter 2026 (Q1) is -0.38.