Forward Air Corporation (FWRD) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 582.05M | 631.23M | 631.76M | 618.84M | 613.28M | 632.85M | 655.94M | 643.67M | 541.81M | 128.04M | 340.98M | 333.62M | 357.71M | 481.2M | 510.02M | 515.22M | 466.96M | 459.93M | 419.63M | 420.67M |
| Revenue Growth % | -5.09% | -0.26% | -3.69% | -3.86% | 13.19% | 394.26% | 92.37% | 92.93% | 51.47% | -73.39% | -33.15% | -35.25% | -23.4% | 4.62% | 21.54% | 22.48% | 28.92% | 31.28% | 26.39% | 49.34% |
| Cost of Goods Sold | 561.61M | 535.36M | 616.76M | 503.57M | 537.98M | 541M | 545.54M | 566.34M | 481.72M | 91.87M | 263.67M | 257.27M | 253.95M | 342.7M | 364.09M | 369.22M | 350.58M | 347.5M | 324.29M | 333.7M |
| COGS % of Revenue | 96.49% | 84.81% | 97.62% | 81.37% | 87.72% | 85.49% | 83.17% | 87.99% | 88.91% | 71.75% | 77.33% | 77.12% | 70.99% | 71.22% | 71.39% | 71.66% | 75.08% | 75.55% | 77.28% | 79.33% |
| Gross Profit | 20.44M | 95.87M | 15.01M | 115.27M | 75.3M | 91.84M | 110.39M | 77.32M | 60.1M | 36.17M | 77.31M | 76.35M | 103.76M | 138.5M | 145.94M | 146M | 116.38M | 112.43M | 95.33M | 86.97M |
| Gross Margin % | 3.51% | 15.19% | 2.38% | 18.63% | 12.28% | 14.51% | 16.83% | 12.01% | 11.09% | 28.25% | 22.67% | 22.88% | 29.01% | 28.78% | 28.61% | 28.34% | 24.92% | 24.45% | 22.72% | 20.67% |
| Gross Profit Growth % | -72.86% | 4.39% | -86.41% | 49.08% | 25.3% | 153.91% | 42.8% | 1.28% | -42.08% | -73.88% | -47.03% | -47.71% | -10.84% | 23.19% | 53.08% | 67.88% | 64.87% | 71.33% | 51.8% | 86.96% |
| Operating Expenses | 0 | 98.74M | 0 | 95.75M | 70.54M | 95.05M | 72.95M | 1.17B | 125.83M | 44.17M | 61.81M | 50.02M | 56.56M | 77.09M | 74.27M | 70.46M | 59.03M | 60.46M | 52.86M | 44.85M |
| OpEx % of Revenue | - | 15.64% | - | 15.47% | 11.5% | 15.02% | 11.12% | 182.25% | 23.22% | 34.5% | 18.13% | 14.99% | 15.81% | 16.02% | 14.56% | 13.68% | 12.64% | 13.14% | 12.6% | 10.66% |
| Selling, General & Admin | 0 | 15.71M | 0 | 15.54M | 15.01M | 19.72M | 17.38M | 14.7M | 12.88M | 9.37M | 12.97M | 12.76M | 13.26M | 12.5M | 12.09M | 13.2M | 11.97M | 11.57M | 9.98M | 10.89M |
| SG&A % of Revenue | - | 2.49% | - | 2.51% | 2.45% | 3.12% | 2.65% | 2.28% | 2.38% | 7.31% | 3.8% | 3.82% | 3.71% | 2.6% | 2.37% | 2.56% | 2.56% | 2.52% | 2.38% | 2.59% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 20.44M | -2.87M | 15.01M | 19.52M | 4.76M | -3.21M | 37.45M | -1.1B | -65.73M | -8M | 15.49M | 26.32M | 47.2M | 61.41M | 71.67M | 75.55M | 57.35M | 51.98M | 42.48M | 42.12M |
| Operating Margin % | 3.51% | -0.45% | 2.38% | 3.15% | 0.78% | -0.51% | 5.71% | -170.24% | -12.13% | -6.25% | 4.54% | 7.89% | 13.19% | 12.76% | 14.05% | 14.66% | 12.28% | 11.3% | 10.12% | 10.01% |
| Operating Income Growth % | 329.16% | 10.74% | -59.93% | 101.78% | 107.25% | 59.85% | 141.71% | -4262.41% | -239.27% | -113.03% | -78.38% | -65.15% | -17.71% | 18.16% | 68.72% | 79.34% | 152.38% | 150.78% | 80.67% | 202.75% |
| EBITDA | 58.96M | 37.86M | 52.76M | 56.33M | 42.12M | 34.44M | 63.34M | -1.05B | -33.95M | 5.75M | 29.7M | 39.57M | 59.57M | 73.81M | 83.93M | 87.14M | 68.48M | 63.46M | 51.89M | 51.54M |
| EBITDA Margin % | 10.13% | 6% | 8.35% | 9.1% | 6.87% | 5.44% | 9.66% | -162.68% | -6.27% | 4.49% | 8.71% | 11.86% | 16.65% | 15.34% | 16.46% | 16.91% | 14.67% | 13.8% | 12.37% | 12.25% |
| EBITDA Growth % | 39.98% | 9.91% | -16.71% | 105.38% | 224.09% | 499.23% | 113.25% | -2746.24% | -156.99% | -92.21% | -64.61% | -54.59% | -13.02% | 16.3% | 61.75% | 69.08% | 114.26% | 112.02% | 58.78% | 120.94% |
| D&A (Non-Cash Add-back) | 38.52M | 40.72M | 37.75M | 36.81M | 37.36M | 37.66M | 25.89M | 48.64M | 31.79M | 13.75M | 14.21M | 13.24M | 12.37M | 12.39M | 12.27M | 11.6M | 11.13M | 11.48M | 9.42M | 9.41M |
| EBIT | 20.44M | -11K | 21.4M | 8.21M | 3.94M | 80.05M | 19.87M | -1.09B | -66.39M | -8M | 11.69M | 26.32M | 47.2M | 61.41M | 71.67M | 75.55M | 57.35M | 51.98M | 42.48M | 42.12M |
| Net Interest Income | 43.59M | -45.1M | -44.77M | -45.33M | -45.55M | -48.43M | -52.77M | -47.27M | -40.75M | -23.98M | -2.65M | -2.58M | -2.35M | -1.62M | -1.54M | -1.19M | -784K | -877K | -973K | -1.32M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | -43.59M | 45.1M | 44.77M | 45.33M | 45.55M | 48.43M | 52.77M | 47.27M | 40.75M | 23.98M | 2.65M | 2.58M | 2.35M | 1.62M | 1.54M | 1.19M | 784K | 877K | 973K | 1.32M |
| Other Income/Expense | -58.85M | -42.24M | -38.38M | -56.63M | -46.37M | 34.83M | -70.34M | -45.66M | -41.41M | -23.98M | -6.46M | -2.58M | -2.35M | -1.62M | -1.54M | -1.19M | -784K | -877K | -973K | -1.32M |
| Pretax Income | -38.41M | -45.11M | -23.37M | -37.11M | -41.6M | 31.62M | -32.9M | -1.14B | -107.14M | -31.98M | 9.03M | 23.74M | 44.84M | 59.8M | 70.12M | 74.35M | 56.57M | 51.1M | 41.5M | 40.8M |
| Pretax Margin % | -6.6% | -7.15% | -3.7% | -6% | -6.78% | 5% | -5.02% | -177.33% | -19.78% | -24.98% | 2.65% | 7.12% | 12.54% | 12.43% | 13.75% | 14.43% | 12.11% | 11.11% | 9.89% | 9.7% |
| Income Tax | 1.79M | -8.7M | 385K | -16.75M | 19.59M | 67M | 1.3M | -174.94M | -18.35M | -9.18M | 2.54M | 6.61M | 10.94M | 16.86M | 17.99M | 18.92M | 13.88M | 12.9M | 11M | 10.12M |
| Effective Tax Rate % | -4.67% | 19.28% | -1.65% | 45.13% | -47.09% | 211.88% | -3.96% | 15.33% | 17.13% | 28.69% | 28.13% | 27.86% | 24.39% | 28.19% | 25.65% | 25.45% | 24.54% | 25.25% | 26.5% | 24.81% |
| Net Income | -34.32M | -28.33M | -16.25M | -12.58M | -50.64M | -36.42M | -73.41M | -645.43M | -61.71M | 101.74M | 9.29M | 19.95M | 36.37M | 42.94M | 52.13M | 55.43M | 42.69M | 40.47M | 23.54M | 30.68M |
| Net Margin % | -5.9% | -4.49% | -2.57% | -2.03% | -8.26% | -5.75% | -11.19% | -100.27% | -11.39% | 79.46% | 2.72% | 5.98% | 10.17% | 8.92% | 10.22% | 10.76% | 9.14% | 8.8% | 5.61% | 7.29% |
| Net Income Growth % | 32.23% | 22.22% | 77.86% | 98.05% | 17.95% | -135.79% | -890.35% | -3335.09% | -269.69% | 136.93% | -82.18% | -64.01% | -14.8% | 6.12% | 121.5% | 80.69% | 281.77% | 1010.76% | 41.38% | 872.64% |
| Net Income (Continuing) | -40.2M | -36.41M | -23.76M | -20.36M | -61.19M | -35.38M | -34.2M | -966.47M | -88.79M | -22.8M | 6.49M | 17.13M | 33.9M | 42.94M | 52.13M | 55.43M | 42.69M | 38.2M | 30.5M | 30.68M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | -374K | -1000K | -1000K | 0 | 0 | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 | 1000K | -1000K | 0 |
| Minority Interest | 41.27M | 48.32M | 56.06M | 64.45M | 72.37M | 84.14M | 110.45M | 80.45M | 406.37M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.11 | -0.91 | -0.52 | -0.41 | -1.68 | -1.24 | -2.63 | -24.08 | -2.81 | -2.10 | 0.36 | 0.76 | 1.37 | 1.60 | 1.94 | 2.05 | 1.58 | 1.48 | 0.86 | 1.11 |
| EPS Growth % | 33.93% | 26.61% | 80.23% | 98.3% | 40.21% | 40.95% | -830.56% | -3268.42% | -305.11% | -231.25% | -81.44% | -62.93% | -13.29% | 8.11% | 125.58% | 84.68% | 295% | 970.59% | 43.33% | 909.09% |
| EPS (Basic) | -1.11 | -0.91 | -0.52 | -0.41 | -1.68 | -1.24 | -2.63 | -24.08 | -2.81 | -2.10 | 0.36 | 0.76 | 1.37 | 1.61 | 1.95 | 2.06 | 1.58 | 1.49 | 0.86 | 1.12 |
| Diluted Shares Outstanding | 30.97M | 30.97M | 30.97M | 30.43M | 30.19M | 29.37M | 27.94M | 26.8M | 26.26M | 25.67M | 25.77M | 26.04M | 26.48M | 26.7M | 26.9M | 26.99M | 27.1M | 27.16M | 27.14M | 27.41M |
| Basic Shares Outstanding | 30.97M | 30.97M | 30.97M | 30.43M | 30.19M | 29.37M | 27.94M | 26.8M | 26.26M | 25.67M | 25.7M | 25.93M | 26.35M | 26.51M | 26.77M | 26.87M | 26.95M | 26.97M | 27.03M | 27.26M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | 6.09% | 66.73% | 31.35% | 17.45% | 14.91% | 12.4% | 11.71% | 15.23% | 14.1% | 24.24% | 18.8% |