Forward Air Reports Strong Q3 Results Amid Freight Recession
Forward Air Corporation reported strong Q3 results despite a freight recession, with operating income of $15 million and Consolidated EBITDA of $78 million. Consolidated revenue was $632 million, slightly down from last year. The Omni segment achieved record revenue of $340 million, while the Expedited Freight segment maintained an EBITDA margin of 11.5%. The company has over $400 million in liquidity and is focused on integrating U.S. and Canadian operations to enhance efficiency and customer service. Management remains optimistic about future operational improvements and synergies from the Omni Logistics acquisition.
Forward Air Corporation is a leading asset-light provider of transportation services across the United States, Canada, and Mexico, specializing in expedited less-than-truckload services, truckload brokerage, and multimodal solutions through its Omni Logistics segment.
In its third-quarter 2025 earnings report, Forward Air Corporation announced a solid performance despite the ongoing freight recession, highlighting strong results from its Omni segment and stable margins in its Expedited Freight segment. The company reported operating income of $15 million and Consolidated EBITDA of $78 million, with a focus on optimizing its cost structure.
Key financial metrics revealed a consolidated revenue of $632 million, a slight decrease from the previous year. The Omni segment achieved its highest revenue since acquisition, with a $5 million increase to $340 million, while the Expedited Freight segment maintained a robust EBITDA margin of 11.5%. The company also reported a liquidity position exceeding $400 million, bolstered by strong cash flow from operations.
The company’s strategic initiatives included integrating U.S. and Canadian operations under a regional structure to form a cohesive One Ground Network, aiming to enhance customer service and operational efficiency. This transformation strategy is expected to streamline services and improve customer experience.
Looking ahead, Forward Air Corporation remains focused on executing its transformation strategy and capturing synergies from the Omni Logistics acquisition. The management is optimistic about enhancing operational efficiency and maintaining strong service levels to navigate the challenging freight environment.
