FWRDForward Air Corporation

$706M

Q2 2025 Earnings

Industrials Integrated Freight & Logistics

Income Statement

Revenue

$619M-3.9% YoY

Gross Profit

$115M18.6% margin

Operating Income

$20M3.2% margin

Net Income

-$13M-2.0% margin

EPS (Diluted)

$-0.41

QoQ Revenue Growth

+0.9%

Cash Flow

Operating Cash Flow

-$13M

Free Cash Flow

-$18M

Stock-Based Comp.

$5M

Balance Sheet

Total Assets

$2.8B

Total Liabilities

$2.5B

Stockholders' Equity

$152M

Cash & Equivalents

$95M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$619M	$644M	-3.9%
Gross Profit	$115M	$77M	+49.1%
Operating Income	$20M	-$1.1B	+101.8%
Net Income	-$13M	-$645M	+98.1%

Revenue Segments

Expedited Freight Segment

$258M81%

Intermodal Segment

$59M19%

FWRD Q2 2025 Earnings — Forward Air Corporation Revenue & Financial Results | Market Cap Arena