Forward Air Reports Record Q3 2026 Revenue Driven by Expedited Freight Growth
Forward Air (FWRD) reported strong third-quarter 2026 financial results, highlighted by a 6.7% increase in operating revenue to $673.9 million. The company achieved significant profitability improvements, with operating income nearly tripling to $43.9 million and consolidated EBITDA rising 30.7% year-over-year to $101.5 million. This growth was primarily fueled by a 30.5% surge in the Expedited Freight segment and an 8.8% increase in Intermodal revenue. Despite an 8% decline in Omni Logistics revenue due to falling ground services, improvements in air, ocean, and contract logistics margins helped stabilize the segment. The company also successfully completed asset divestitures totaling $25 million and improved its net leverage ratio to below 5x. Management remains optimistic regarding a major customer agreement expected to exceed 2025 total revenue levels over the next two years.
Topics: EBITDA expedited freight financial performance net income operating revenue