Filing Flows › Forward Air (FWRD) › Q4 2024
Forward Air (FWRD) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 24, 2025
Forward Air (FWRD) reported revenue of $633M for the fourth quarter 2024 (Q4 2024), +87% from a year earlier and -4% from the quarter before. Operating margin was 12.0%, net loss $35.8M (5.6% of revenue).
Forward Air, Q4 2024: revenue $633M (+87% year over year), operating margin 12.0%, net loss $35.8M, operating cash flow −$23.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $633M | -4% | +87% |
| Operating profit | $75.9M | — | — |
| Net earnings | −$35.8M | — | — |
| Operating cash flow | −$23.2M | — | — |
What changed
Revenue was $632.8M in Q4 2024, up 87% year over year and down 4% from the previous quarter.
Operating profit was $75.9M, a 12.0% margin (up 11.1 points year over year). Of the extra revenue versus a year earlier, 25% reached operating profit, above the 1% margin then. Total costs grew 66% against revenue growth of 87%. The quarter ended with a net loss of $35.8M, wider than the previous quarter's $35.3M loss. Net interest and other expense of $44.6M was the main reason.
Operating cash flow was −$23.2M. Non-cash charges added back $37.7M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items used $27.2M. Capital expenditures of $7.2M exceeded it, leaving free cash flow of −$30.5M.
Questions
What was Forward Air's revenue in the fourth quarter 2024?
Forward Air (FWRD) reported revenue of $633M for the fourth quarter 2024 (Q4 2024), +87% from a year earlier and -4% from the quarter before.
Was Forward Air profitable in the fourth quarter 2024?
Operating profit was $75.9M (12.0% of revenue) and net loss $35.8M.
Source: Forward Air 10-K on SEC EDGAR.