FORWARD AIR CORPFWRDEarnings & Financial Report
Nasdaq
NextApr 30, 2026
FWRD Q3 2025 Key Financial Metrics
Revenue
$631.8M
Gross Profit
N/A
Operating Profit
$15.0M
Net Profit
$-16.3M
Gross Margin
N/A
Operating Margin
2.4%
Net Margin
-2.6%
YoY Growth
-3.7%
EPS
$-0.52
Financial Flow
FORWARD AIR CORP Q3 2025 Financial Summary
FORWARD AIR CORP reported revenue of $631.8M for Q3 2025, with a net profit of $-16.3M (-2.6% margin). Cost of goods sold was N/A, operating expenses totaled N/A.
Key Financial Metrics
| Total Revenue | $631.8M |
|---|---|
| Net Profit | $-16.3M |
| Gross Margin | N/A |
| Operating Margin | 2.4% |
| Report Period | Q3 2025 |
FORWARD AIR CORP Annual Revenue by Year
FORWARD AIR CORP annual revenue history includes year-by-year totals (for example, 2024 revenue was $2.5B).
| Year | Annual Revenue |
|---|---|
| 2024 | $2.5B |
| 2023 | $1.4B |
| 2022 | $2.0B |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $128.0M | $541.8M | $643.7M | $655.9M | $632.8M | $613.3M | $618.8M | $631.8M |
| YoY Growth | -73.4% | 26.9% | 60.0% | 58.7% | 394.3% | 13.2% | -3.9% | -3.7% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.98B | $3.96B | $3.07B | $3.06B | $2.80B | $2.80B | $2.76B | $2.79B |
| Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | $764.3M | $926.1M | $283.8M | $226.1M | $201.7M | $154.6M | $151.8M | $139.8M |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $57.1M | $-51.7M | $-45.2M | $51.2M | $-23.2M | $27.6M | $52.7M |