Filing Flows › Forward Air (FWRD) › Q3 2026 › vs Q2 2026
Forward Air (FWRD) Q3 2026 vs Q2 2026 (quarter over quarter)
Forward Air's revenue rose $825K (+0.1%) from $673M in Q2 2026 to $674M in Q3 2026. The biggest changes: Intermodal +$3.7M (+6%); Air and Ocean +$3.5M (+4%); Ground −$3.5M (-0.8%). Operating margin 6.5% against -29.9% (+36.4 pts).
Forward Air, Q3 2026: revenue $674M (+7% year over year), operating margin 6.5%, net earnings $11.4M, operating cash flow $35.3M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 6.5% | -29.9% | +36.4 pts |
| Net margin | 1.7% | -30.8% | +32.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Ground | $405M | $409M | −$3.5M | -0.8% |
| Contract Logistics | $109M | $112M | −$2.9M | -3% |
| Air and Ocean | $96.8M | $93.4M | $3.5M | +4% |
| Intermodal | $62.3M | $58.6M | $3.7M | +6% |
| Revenue | $674M | $673M | $825K | +0.1% |
| Operating profit | $43.9M | −$201M | $245M | — |
| Costs & expenses | $630M | $874M | −$244M | -28% |
| Pre-tax earnings | $9.1M | −$246M | $255M | — |
| Other expense, net | $34.8M | $44.8M | −$10.0M | -22% |
| Loss borne by minority interests | $2.3M | $38.6M | −$36.4M | -94% |
| Net earnings | $11.4M | −$207M | $219M | — |
| Income tax | $15K | −$174K | $189K | — |
| Operating cash sources | $51.9M | −$169M | $220M | — |
| Depreciation & amortization | $37.5M | $38.3M | −$723K | -2% |
| Share-based compensation | $3.0M | $491K | $2.5M | +504% |
| Working capital & other | $16.6M | −$164M | $180M | — |
| Operating cash flow | $35.3M | −$4.9M | $40.2M | — |
Questions
How much did Forward Air's revenue grow quarter over quarter in Q3 2026?
Forward Air's revenue rose $825K (+0.1%) from $673M in Q2 2026 to $674M in Q3 2026.
What drove Forward Air's revenue change in Q3 2026?
Intermodal +$3.7M (+6%); Air and Ocean +$3.5M (+4%); Ground −$3.5M (-0.8%).