Forward Air Q1 revenue falls 5%, misses estimates

Forward Air (Delaware)

07/05/2026 21:16

Overview

U.S. logistics provider's Q1 revenue fell 5% yr/yr, missing analyst expectations

Net loss narrowed and operating income improved compared to Q1 last year

Company to sell non-core assets after strategic review; major customer may transition business in 2027

Outlook

Company expects transition of major customer business to start in early 2027

Forward Air intends to pursue sale of Intermodal segment and two smaller Omni businesses

Company expects targeted asset sales to advance deleveraging and focus services

Result Drivers

EXPEDITED FREIGHT GAINS - Segment operating income and margin improved year-over-year and sequentially, helped by higher truckload revenue and cost control

OMNI LOGISTICS MIXED - Revenue declined but contract logistics volumes with more favorable margin supported segment margin improvement

INTERMODAL WEAKNESS - Reduced port activity and softness with key customers continued to weigh on Intermodal segment results

Company press release: ID:nBw3g2WPsa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Operating Revenue
Miss
$582.05 mln
$620.22 mln (5 Analysts)
Q1 EBITDA
$70.38 mln
Q1 Free Cash Flow
$40.22 mln
Q1 Operating Margin
3.50%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the courier, postal, air freight & land-based logistics peer group is "buy"

Wall Street's median 12-month price target for Forward Air Corp (Delaware) is $33.00, about 79.7% above its May 6 closing price of $18.36

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)