Filing Flows › Forward Air (FWRD) › Q2 2026
Forward Air (FWRD) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Forward Air (FWRD) reported revenue of $673M for the second quarter 2026 (Q2 2026), +9% from a year earlier and +16% from the quarter before. Operating margin was -29.9%, net loss $246M (36.5% of revenue).
Forward Air, Q2 2026: revenue $673M (+9% year over year), operating margin -29.9%, net loss $246M, operating cash flow −$4.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $673M | +16% | +9% |
| Operating profit | −$201M | -1085% | -1131% |
| Net earnings | −$246M | — | — |
| Operating cash flow | −$4.9M | -111% | — |
What changed
Revenue was $673.0M in Q2 2026, up 9% year over year and up 16% from the previous quarter. Ground was the largest line at 61% of revenue. Ground added $21.6M year over year (up 6%), 40% of the total change.
Operating costs exceeded revenue by $201.3M, an operating margin of -29.9%. Total costs grew 46% against revenue growth of 9%. The quarter ended with a net loss of $245.9M, wider than the previous quarter's $40.2M loss. Minority interests bore $38.6M of it: to shareholders the quarter was a loss of $207.3M.
Operating cash flow was −$4.9M. Non-cash charges added back $38.3M of depreciation and amortization and $491K of share-based compensation. Working capital and other items added $202.3M. Capital expenditures of $3.2M exceeded it, leaving free cash flow of −$8.1M.
Questions
What was Forward Air's revenue in the second quarter 2026?
Forward Air (FWRD) reported revenue of $673M for the second quarter 2026 (Q2 2026), +9% from a year earlier and +16% from the quarter before.
Was Forward Air profitable in the second quarter 2026?
Operating loss was $201M (-29.9% of revenue) and net loss $246M.
Source: Forward Air 10-Q on SEC EDGAR.