Filing Flows › Forward Air (FWRD) › Q1 2026 › vs Q4 2025
Forward Air (FWRD) Q1 2026 vs Q4 2025 (quarter over quarter)
Forward Air's revenue fell $49.2M (-8%) from $631M in Q4 2025 to $582M in Q1 2026.
Forward Air, Q1 2026: revenue $582M (-5% year over year), operating margin 3.5%, net loss $40.2M, operating cash flow $45.7M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $582M | $631M | −$49.2M | -8% |
| Net loss | $40.2M | $36.4M | $3.8M | +10% |
| Costs & expenses | $622M | $676M | −$54.1M | -8% |
| Operating costs | $562M | $634M | −$72.5M | -11% |
| Interest & other, net | $58.8M | $42.2M | $16.6M | +39% |
| Income tax | $1.8M | −$8.7M | $10.5M | — |
| Operating cash sources | $85.9M | $13.7M | $72.3M | +528% |
| Depreciation & amortization | $38.5M | $40.7M | −$2.2M | -5% |
| Share-based compensation | $3.5M | $2.4M | $1.2M | +49% |
| Working capital & other | $43.9M | −$29.4M | $73.3M | — |
| Net loss absorbed | $40.2M | $36.4M | $3.8M | +10% |
| Operating cash flow | $45.7M | −$22.7M | $68.5M | — |
Questions
How much did Forward Air's revenue grow quarter over quarter in Q1 2026?
Forward Air's revenue fell $49.2M (-8%) from $631M in Q4 2025 to $582M in Q1 2026.