Forward Air Corporation
forwardair.comWhat Do They Do?
Provides global freight and logistics services, expedited freight and intermodal drayage for corporate shippers and transport businesses.
10-K for FY2025, filed Mar 11, 2026Omni Logistics. We operate an asset-light, high-touch logistics and supply chain management operation with deep customer relationships in…View ↗
Intermodal. We provide first- and last-mile high value intermodal container drayage services both to and from seaports and railheads in the…View ↗
Our Expedited Freight segment provides expedited regional, inter-regional and national LTL and truckload services. We market our Expedited…View ↗
Omni’s customer base is primarily comprised of medium to large corporate customers providing goods in the technology, manufacturing and…View ↗
Intermodal’s customer base is primarily comprised of international freight forwarders, passenger and cargo airlines, beneficial cargo…View ↗
How Do They Make Money?
Customers pay contract prices for freight shipments and related logistics services. Freight is billed upon delivery; customs brokerage, managed services, warehousing, and consulting may be priced per transaction, labor hour, or service period.
10-K for FY2025, filed Mar 11, 2026
$2.5B
-
10-K for FY2025, filed Mar 11, 2026
$2.5B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Expedited Freight
|
41%
FY2022: 75%
|
Expedited Freight, FY2025
$1B Sources
|
|
Omni Logistics
|
54% |
Omni Logistics, FY2025
$1.4B Sources
|
|
Intermodal
|
9.2%
FY2022: 25%
|
Intermodal, FY2025
$230.5M Sources
|
|
Corporate
|
0.0% |
Corporate, FY2025
$0 Sources
|
Who Are Their Customers?
Customers include logistics and transportation businesses, airlines, and corporate shippers or cargo owners. Expedited Freight markets mainly to logistics intermediaries and airlines; Omni's sales team serves corporate customers, while Intermodal serves cargo owners and shipping lines.
10-K for FY2025, filed Mar 11, 2026Our Expedited Freight wholesale customer base is primarily comprised of freight forwarders, third-party logistics (“3PL”) companies…View ↗
Omni’s customer base is primarily comprised of medium to large corporate customers providing goods in the technology, manufacturing and…View ↗
Omni’s sales force is focused on servicing the global supply chain of United States-based customers with support from a centralized…View ↗
Intermodal’s customer base is primarily comprised of international freight forwarders, passenger and cargo airlines, beneficial cargo…View ↗
Do Revenues Turn Into Profits?
No. It lost $107.8M in FY2025.
10-K for FY2025, filed Mar 11, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$207.3MView ↗
- ▲ +1547% (Loss)
- vs −$12.6M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
-
Jul 10, 2026
Executive Chairman stepped down; board appointed an independent Chair
Jerome Lorrain remained a director, and Christine M. Gorjanc was appointed independent Chair.
Sources
8-K, filed Jul 10, 2026
On July 10, 2026 (the “Effective Date”), Jerome Lorrain resigned as the Executive Chairman of the Board of Directors (the “Board”) of…View ↗
Growing. Revenue grew 80% in 4 years, from $1.4B in FY2021 to $2.5B in FY2025, about 16% a year.
Added global logistics
The Omni acquisition added a global freight-forwarding and contract-logistics business serving corporate customers and other transportation companies; the older report described Expedited Freight and Intermodal without this business.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Mar 11, 2026Our services are classified into two reportable segments: Expedited Freight and Intermodal. For financial information relating to each of…View ↗
On January 25, 2024 (the “Closing Date”), we completed the acquisition of Omni Newco LLC (“Omni”) pursuant to the Agreement and Plan of…View ↗
Omni Logistics. We operate an asset-light, high-touch logistics and supply chain management operation with deep customer relationships in…View ↗
Omni’s customer base is primarily comprised of medium to large corporate customers providing goods in the technology, manufacturing and…View ↗
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