Forward Air Q2 revenue falls 3.9%, misses estimates

Forward Air (Delaware)

11/08/2025 21:11

Overview

Forward Air Q2 2025 revenue falls 3.9% yr/yr, missing analyst expectations

Expedited Freight segment reports highest EBITDA margin in six quarters

Company's operating income improves to $20 mln from a loss last year

Outlook

Company aims to improve EBITDA and cash flow as freight normalizes

Forward Air focuses on long-term growth over next three-plus years

Company benefits from cost controls and pricing actions in Expedited Freight

Result Drivers

EXPEDITED FREIGHT - Improved margins attributed to rigorous cost controls and corrective pricing actions

SEQUENTIAL IMPROVEMENT - Operating income increased by $15 mln and EBITDA by $5 mln compared to Q1 2025

LIQUIDITY DECREASE - Liquidity fell by $25 mln due to $34 mln interest payment on Senior Secured Notes

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Operating Revenue
Miss
$618.84 mln
$628 mln (5 Analysts)
Q2 EPS
-$0.41
Q2 EBITDA
$73.81 mln
Q2 Free Cash Flow
-$17.16 mln
Q2 Operating Margin
3.2%


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 $34.00, about 11% above its August 8 closing price of $30.25

Press Release: ID:nBw5qfmKva

(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.)