FWRD Q3 2025 Earnings — Forward Air Corporation Revenue & Financial Results | Market Cap Arena

FWRDForward Air Corporation

$706M

Q3 2025 Earnings

Industrials Integrated Freight & Logistics

Income Statement

Revenue

$632M-3.7% YoY

Gross Profit

$15M2.4% margin

Operating Income

$15M2.4% margin

Net Income

-$16M-2.6% margin

EPS (Diluted)

$-0.52

QoQ Revenue Growth

+2.1%

Cash Flow

Operating Cash Flow

$53M

Free Cash Flow

$49M

Stock-Based Comp.

$0

Balance Sheet

Total Assets

$2.8B

Total Liabilities

$2.6B

Stockholders' Equity

$140M

Cash & Equivalents

$140M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$632M	$656M	-3.7%
Gross Profit	$15M	$110M	-86.4%
Operating Income	$15M	$37M	-59.9%
Net Income	-$16M	-$73M	+77.9%

Revenue Segments

Expedited Freight Segment

$259M82%

Intermodal Segment

$58M18%