Business Wire·Nov 9, 2026, 4:01 PM ET

Forward Air Corporation Reports Third Quarter 2026 Results

FWRD

Forward Air Corporation reported consolidated operating revenue of $674 million for the quarter ended September 30, 2026, an increase of 6.7% compared to $632 million in the same period in 2025.
Operating income for the third quarter of 2026 reached $44 million, nearly tripling the $15 million reported in the third quarter of 2025.
The company achieved its second consecutive quarter of record revenue, with the Expedited Freight segment reporting its best operating revenue, operating income, and Reported EBITDA in nearly three years.
The Omni Logistics segment recorded its highest Reported EBITDA margin since the beginning of 2024, driven by increased demand for contract logistics, air, and ocean services.
The Intermodal segment posted its highest revenue in over three years, supported by an increase in drayage revenue per shipment.
Consolidated EBITDA, a non-GAAP measure, totaled $101 million for the quarter, up from $78 million in the prior year quarter, while the last twelve months Consolidated EBITDA reached $342 million.
Liquidity improved to $446 million at the end of the third quarter 2026, a sequential increase of $45 million from the second quarter, resulting in the lowest net leverage ratio since the first quarter of 2024.
Net income from continuing operations for the quarter was $9.1 million, or $0.34 per diluted share, compared to a net loss of $23.8 million, or $0.52 per diluted share, in the same quarter of 2025.
The company will hold a conference call to discuss these results on Monday, November 9 at 4:30 p.m. ET.