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    Forward Air Corporation (FWRD)

    Official site

    INDUSTRIALS • INTEGRATED FREIGHT & LOGISTICS • NASDAQ

    $15.84
    +0.31 (+2.00%)

    Market Cap: $508.06M

    Last updated: Oct 16, 2026 at 5:00 PM ET

    Earnings

    Performance (10Y)

    Beat Rate
    62%(24/39)
    Avg Surprise
    +178.88%
    Streak
    2 Q

    Upcoming Estimates

    Period ending Sep 30, 2026
    EPS Consensus$0.13
    Range$0.12 - $0.14
    2 analysts
    EPS RevisionsNo revisions (7d)
    3
    0
    30d
    EPS Estimate DriftChange to current
    90d ago$-0.10+225.0%
    60d ago$0.14-7.1%
    30d ago$0.10+30.0%
    7d ago$0.10+30.0%
    Current$0.13
    Revenue Consensus
    $673M
    Range$647M - $688M
    4 analysts
    Period ending Dec 31, 2026
    EPS Consensus$-0.61
    Range$-1.62 - $0.40
    2 analysts
    Revenue Consensus
    $657M
    Range$562M - $703M
    4 analysts
    PeriodReportedEst.SurpriseB/MYoY
    Dec 26EST
    		-$-0.61---
    Sep 26EST
    		-$0.13---
    Jun 26
    Reported Aug 5
    		$1.27$-0.17+847.06%Beat+2016.7%
    Mar 26
    Reported May 7
    		$-0.20$-0.37+45.95%Beat+82.3%
    Dec 25
    Reported Feb 23
    		$-0.91$-0.06-1548.55%Miss+26.6%
    Sep 25
    Reported Nov 5
    		$-0.52$-0.13-300.00%Miss+65.1%
    Jun 25
    Reported Aug 11
    		$0.06N/A+123.08%Beat-99.7%
    Mar 25
    Reported May 7
    		$-1.13$-0.48-135.42%Miss-76.6%
    Dec 24
    Reported Feb 26
    		$-1.24$-0.12-962.55%Miss-253.1%
    Sep 24
    Reported Nov 4
    		$-1.49$-0.23-547.83%Miss-250.5%
    Jun 24
    Reported Aug 7
    		$17.74$-0.18+9955.56%Beat+1849.5%
    Mar 24
    Reported May 8
    		$-0.64$-0.11-481.82%Miss-146.7%
    Dec 23
    Reported Feb 28
    		$0.81$0.98-17.35%Miss-50.9%
    Sep 23
    Reported Oct 30
    		$0.99$1.12-11.61%Miss-48.7%
    Jun 23
    Reported Aug 2
    		$0.91$1.32-31.06%Miss-55.4%
    Mar 23
    Reported May 1
    		$1.37$1.30+5.38%Beat-12.7%
    Dec 22
    Reported Feb 8
    		$1.65$1.94-14.95%Miss+17.9%
    Sep 22
    Reported Oct 26
    		$1.93$1.90+1.58%Beat+69.3%
    Jun 22
    Reported Jul 27
    		$2.04$1.83+11.48%Beat+83.8%
    Mar 22
    Reported Apr 27
    		$1.57$1.27+23.62%Beat+161.7%
    Dec 21
    Reported Feb 9
    		$1.40$1.29+8.53%Beat+923.5%
    Sep 21
    Reported Oct 27
    		$1.14$1.08+5.56%Beat+70.1%
    Jun 21
    Reported Jul 29
    		$1.11$1.01+9.90%Beat+236.4%
    Mar 21
    Reported Apr 29
    		$0.60$0.57+5.26%Beat+100.0%
    Dec 20
    Reported Feb 11
    		$-0.17N/A-123.29%Miss-120.0%
    Sep 20
    Reported Oct 29
    		$0.67$0.40+67.50%Beat-14.1%
    Jun 20
    Reported Jul 30
    		$0.33$0.31+6.45%Beat-57.7%
    Mar 20
    Reported Apr 30
    		$0.30$0.39-23.08%Miss-53.1%
    Dec 19
    Reported Feb 6
    		$0.85$0.92-7.61%Miss-10.5%
    Sep 19
    Reported Oct 24
    		$0.78$0.78+0.00%Beat+2.6%
    Jun 19
    Reported Jul 25
    		$0.78$0.79-1.27%Miss-4.9%
    Mar 19
    Reported Apr 24
    		$0.64$0.62+3.23%Beat+6.7%
    Dec 18
    Reported Feb 7
    		$0.95$0.82+15.85%Beat+46.2%
    Sep 18
    Reported Oct 24
    		$0.76$0.80-5.00%Miss+26.7%
    Jun 18
    Reported Jul 25
    		$0.82$0.76+7.89%Beat+28.1%
    Mar 18
    Reported Apr 25
    		$0.60$0.57+5.26%Beat+27.7%
    Dec 17
    Reported Feb 7
    		$0.65$0.62+4.84%Beat+12.1%
    Sep 17
    Reported Oct 25
    		$0.60$0.58+3.45%Beat-
    Jun 17
    Reported Jul 26
    		$0.64$0.58+10.34%Beat-
    Mar 17
    Reported Apr 26
    		$0.47$0.41+14.63%Beat-
    Dec 16
    Reported Feb 8
    		$0.58$0.55+5.45%Beat-

    Dividends

    Dividend Metrics

    Forward Yield0.00%
    Forward Annual Dividend$0.00
    Payout Ratio0.00%
    FrequencyQuarterly

    Key Metrics

    Valuation
    P/E Ratio-44.00EV/EBITDAN/A
    Price/FCF11.10xFCF Yield9.01%
    Profitability
    Profit Margin-11.40%Operating Margin6.34%
    ROE-736.00%ROIC-10.69%
    Financial Health
    Debt/Equity-14.82xInterest Coverage0.19x
    Current Ratio1.32xQuick Ratio1.32x
    Trading Statistics
    Beta1.41Avg Volume483.97K
    52-Week High$31.1852-Week Low$7.86

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$15.63
    SMA 20$15.32
    SMA 50$16.68
    SMA 200$18.22
    EMA 10$15.62
    EMA 20$15.65
    EMA 50$15.81
    EMA 200$17.37

    MACD

    Line: -0.11Signal: -0.21Hist: 0.10

    ADX

    ADX: 15.6+DI: 22.1-DI: 21.4

    Aroon & PSAR

    Aroon Up4.0
    Aroon Down28.0
    PSAR$14.89

    Bollinger Bands

    Upper Band$16.22
    Lower Band$14.42
    %B Position1173%(Upper)
    Band Width0.79

    RSI (14-Day)

    Neutral
    51.2

    Momentum Oscillators

    Stoch %K55.8
    Stoch %D55.9
    Williams %R-36.9
    ROC (10d)2.2%
    Momentum0.34
    CCI (20d)94.2
    MFI (14d)72.3

    Volatility Measures

    ATR (14d)$0.79(5.0%)
    StdDev (20d)0.45
    Hist Vol45.7%(High)

    Volume Flow

    VWAP$15.78
    OBV10.9M
    AD Line-16.7M
    CMF (20d)0.023

    Volume Metrics

    Avg Vol (20d)482.8K
    Vol Ratio0.4x(Low)
    VWMA (20d)$15.26

    Pivot Points

    R3$16.37
    R2$16.03
    R1$15.78
    Pivot Point$15.43
    S1$15.18
    S2$14.84
    S3$14.59

    Advanced Oscillators

    TSI-4.17
    Ultimate Osc56.5
    KST-61.62

    Financial Data

    QuarterJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023
    Total Revenue$673.04M$582.05M$631.23M$631.76M$618.84M$613.28M$632.85M$655.94M$643.67M$541.81M$338.43M$340.98M
    Cost of Revenue$136.68M$4.93M$262.45M$136.94M$5.28M$147.56M$408.39M$138.37M$5.86M$5.25M$-68,692,000$5.84M
    Gross Profit$536.35M$577.12M$368.78M$494.82M$613.57M$465.72M$224.46M$517.57M$637.81M$536.57M$407.12M$335.13M
    Operating Expenses$737.66M$556.68M$371.65M$479.82M$594.04M$460.95M$148.60M$494.87M$1.73B$602.30M$404.12M$323.44M
    R&D$0$0$0$0$0$0$0$0$0$0$0$0
    SG&A$391.47M$55.59M$707.81M$377.20M$43.41M$359.80M$993.43M$388.03M$65.67M$112.95M$-83,376,000$52.65M
    Operating Income$-201,312,000$20.44M$-2,868,000$15.01M$19.52M$4.76M$75.85M$22.70M$-1,095,755,000$-65,732,000$3.00M$11.69M
    Interest Income$0$0$0$0$0$0$0$0$0$0$0$0
    Interest Expense$43.72M$43.59M$45.10M$44.77M$45.33M$45.55M$48.43M$52.77M$47.27M$40.75M$23.98M$2.65M
    Income Before Tax$-244,030,000$-38,405,000$-45,110,000$-23,372,000$-37,113,000$-41,602,000$31.62M$-32,896,000$-1,141,413,000$-107,144,000$-20,976,000$9.03M
    Income Tax Expense$-174,000$1.79M$-8,697,000$385,000$-16,749,000$19.59M$67.00M$1.30M$-174,942,000$-18,350,000$-6,255,000$2.54M
    Net Income$-245,931,000$-40,198,000$-36,413,000$-23,757,000$-20,364,000$-61,191,000$-35,752,000$-35,335,000$-971,347,000$-88,794,000$101.74M$9.29M
    EBITDA$-162,047,000$43.70M$40.71M$59.15M$45.02M$41.30M$117.70M$45.77M$-1,045,509,000$-34,605,000$20.58M$25.90M
    EBIT$-200,309,000$5.18M$-11,000$21.40M$8.21M$3.94M$80.05M$19.87M$-1,094,148,000$-66,391,000$3.00M$11.69M
    * Some calculated fields are derived from available data when not provided by source

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    News

    Forward Air Corporation Announces Timing of Third Quarter 2026 Earnings Release and Conference Call

    Forward Air Corporation (NASDAQ: FWRD) has announced that it will release its third quarter 2026 earnings after the market closes on Monday, November 9...

    Yahoo Finance•10/15/26•Neutral

    Forward Air Corporation (FWRD) Options Chain

    This article provides the options chain for Forward Air Corporation (FWRD), showing its stock price and options data. As of October 2nd, 2026, the stock closed at $15.91, up 2.65%...

    Yahoo! Finance Canada•10/2/26•Neutral

    A golf tournament has raised more than $2.4 million for veterans and military families since 2022.

    Forward Air's 5th Annual Drive for Hope Golf Tournament successfully raised a record-breaking $700,000 for Hope For The Warriors...

    Stock Titan•10/1/26•Somewhat-Bullish

    Forward Air Corporation(NasdaqGS:FWRD) added to S&P Transportation Select Industry Index

    Forward Air Corporation (NasdaqGS:FWRD) has been added to the S&P Transportation Select Industry Index. This announcement was made on September 20...

    www.marketscreener.com•9/21/26•Somewhat-Bullish

    Forward Air (FWRD) Stock Fair Value Rises After Analysts Back Updated Customer Contract

    Analysts have increased their fair value estimate for Forward Air (FWRD) from US$18.33 to US$28.00, driven by discussions around a renewed customer contract and a revised 2027 valuation framework. Stifel and Susquehanna...

    Yahoo Finance•8/22/26•Bullish

    FWRD Valuation and Fair Value

    P/E
    -44.0x
    Forward P/E
    19.9x
    P/FCF
    11.1x
    PEG
    0.7x
    P/B
    -4.6x
    See GNG's fair value

    FWRD Profitability: Margins, ROIC and FCF

    Gross margin
    78.5%
    Operating margin
    6.3%
    Net margin
    -11.4%
    ROIC
    -10.7%
    ROE
    -736.0%
    FCF margin
    1.9%
    FCF yield
    9.0%

    FWRD Competitors

    CompanyTicker
    Pangaea LogisticPANL
    Wabash National CorporationWNC
    Titan Machinery IncTITN
    Roma Green Finance Limited Ordinary SharesROMA
    Hyster-Yale Materials Handling IncHY
    Quad Graphics IncQUAD
    Kelly Services A IncKELYA
    Costamare Bulkers Holdings LimitedCMDB

    Sector: Industrials

    FWRD Analyst Ratings

    Consensus
    Hold
    Analysts
    5
    Strong Buy
    0
    Buy
    2
    Hold
    3
    Sell
    0
    Strong Sell
    0

    FWRD Bull Case vs Bear Case

    Bear case

    • FWRD has a -11.4% net profit margin.
    • FWRD beat EPS estimates in 37.5% of its last 8 reported quarters.

    FWRD Earnings: Beat Rate and Next Report

    Beat rate
    3 of 8 quarters (37.5%)
    Average surprise
    -309.8%
    EPS estimate (fiscal period ending Sep 30, 2026)
    $0.13
    Estimate revisions (30 days, fiscal period ending Sep 30, 2026)
    3 up, 0 down

    FWRD Dividend

    Forward yield
    0.0%
    Payout ratio
    0.0%

    Frequently Asked Questions About FWRD

    Does FWRD pay dividends?

    Forward Air Corporation (FWRD) has a dividend payment track record. See the FWRD dividend history page for its current payment status, TTM yield, and recorded payments.

    What is FWRD's market cap?

    Forward Air Corporation (FWRD) has a market capitalization of $508.06M with a current stock price of $15.84.

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