Forward Air Corporation Reports 0.8% Revenue Increase to $2.495 Billion for Fiscal Year 2025

Forward Air Corporation reported a modest increase in operating revenue for the fiscal year ended December 31, 2025, totaling $2.495 billion, a rise of 0.8% from $2.474 billion in 2024. This growth was primarily driven by the Omni Logistics segment, which saw a revenue increase of 12.9% to $1.351 billion, attributed to an additional 24 days of operations following the acquisition of Omni Newco LLC in January 2024. However, the Expedited Freight segment experienced a decline in revenue, dropping 9.2% to $1.013 billion due to decreased network volume. The Intermodal segment's revenue remained relatively stable, decreasing slightly by 1.0% to $230.5 million.

The company's operating expenses significantly decreased by 30.5% to $2.459 billion, largely due to the absence of a substantial goodwill impairment charge that had impacted the previous year’s results. In 2024, the company recorded a goodwill impairment of $1.028 billion, which did not recur in 2025. The reduction in operating expenses was also influenced by lower acquisition and integration costs associated with the Omni acquisition. As a result, Forward Air reported an operating income of $36.4 million for 2025, a substantial recovery from the $1.063 billion loss reported in 2024.

In terms of operational metrics, the company reported a total of 6,062 full-time employees as of December 31, 2025, with a focus on enhancing its workforce to support growth. The Expedited Freight segment handled approximately 2.9 million shipments, reflecting a 12.3% decrease from the previous year, while the average weight per shipment increased slightly to 842 pounds. The company’s strategic initiatives include a comprehensive review of potential mergers or acquisitions to maximize shareholder value, as announced in January 2025.

Looking ahead, Forward Air remains cautious about the economic environment, which has shown signs of volatility affecting freight volumes. The company is actively monitoring market conditions, including the impact of tariffs and trade policies, which could influence demand for its services. The management has expressed confidence in achieving operational synergies from the Omni acquisition and is focused on integrating the two businesses effectively to enhance service offerings and expand its geographic footprint. The company anticipates that these strategic efforts will position it for long-term growth despite the challenges posed by the current economic landscape.