Short answer
FORWARD AIR CORP (FWRD) filed its Q1 2026 10-Q quarterly report on May 11, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $582M (down 5.1% year over year) with net income of −$34M.
Q1 2026 key financials · XBRL
- Revenue
- $582M
- −5.1% YoY
- Net income
- −$34M
- +32.2% YoY
- Operating margin
- 3.5%
- EPS (diluted)
- −$1.09
- +35.1% YoY
Source: XBRL data from the FORWARD AIR CORP (FWRD) Q1 2026 10-Q on SEC EDGAR. USD.
FORWARD AIR CORP Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Quarterly revenue $582.046M, down 5.1% YoY from $613.281M
- Operating margin 3.5% vs 0.8% YoY; net loss $40.198M vs $61.191M
- Best segment Expedited Freight revenue $272.707M, up 9.4%; operating margin 7.4% vs 6.3%
- Worst segment Intermodal revenue $53.092M, down 15.0%; operating margin 2.3% vs 8.9%
- Headwinds: softer demand, Middle East disruptions, trade restrictions, and potential transition of customer representing approximately 12% of quarterly revenue
Risk Factors
- Strategic-review outcome risk: no actionable sale proposals after January 2025 review; non-core asset dispositions now pursued
- Customer concentration risk: one customer represented approximately 12% of consolidated operating revenues for three months ended March 31, 2026
- Customer-transition risk: significant contract-logistics business potentially shifting to other suppliers, with transitions lasting up to 24 months
- Competitive pricing risk: e-commerce trends may pressure customer pricing and Forward Air profitability
- Share-price risk: uncertainty surrounding strategic initiatives could cause significant share-price fluctuations
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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