EarningsQ1 2026 Earnings Report
DE:FA20 Q1 2026 EPS Results
Actual EPS-€0.69
Consensus EPS-€0.35
Beat/MissMissed by -€0.34
One Year Ago EPS-€0.31
DE:FA20 Q1 2026 Revenue Results
Actual Revenue€519.48M
Expected Revenue€553.55M
Beat/MissMissed by -€34.08M
YoY Revenue Growth-5.09%
Earnings Announcement Details
QuarterQ1 2026
Date05/07/2026
TimeAfter Close
Conference CallThursday, May 7, 2026
DE:FA20 Upcoming Earnings
Forward Air's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
DE:FA20 Q1 2026 Earnings Call
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Q1 2026 Earnings Slide Deck
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced meaningful operational and financial improvements (notably a large increase in operating income, stronger cash flow, healthy liquidity, segment margin gains, and strategic plans to sell non-core assets) against several material risks: a potential transition of a large customer (~$250M of 2025 revenue) expected in 2027, a sharp decline in the intermodal segment, and ongoing macro/geopolitical uncertainty that could pressure demand. Management emphasized confidence in service quality, active efforts to retain business, pricing discipline, and a plan to delever through targeted asset sales.Company Guidance
Operating Income Substantial Improvement
Operating income rose to $20 million in Q1 2026 from $5 million a year ago, representing a +300% increase and reflecting improved profitability amid transformation efforts.
Stable to Slightly Improved Adjusted EBITDA
Consolidated EBITDA (credit-agreement basis) was $70 million vs. $73 million a year ago (-4.1%), while adjusted EBITDA was $70 million vs. $69 million a year ago (+1.4%), showing underlying stability in earnings.
Segment Strength — Expedited Freight
Expedited Freight EBITDA improved to $28 million from $26 million (+7.7%) with the segment maintaining the same margin of 10.4% year-over-year and improving sequentially.
OmniLogistics Margin Improvement
OmniLogistics reported EBITDA of $25 million (roughly flat vs. $26M prior year) while margin increased from 7.9% to 8.3% (+0.4 percentage points), driven by higher-margin contract logistics volume.
Strong Operating Cash Flow and Liquidity Position
Net cash provided by operating activities was $46 million vs. $28 million a year ago (+$18M, >+60%). Ending liquidity was $402 million (comprised of $141M cash and $261M revolver availability), up $35M vs. end of 2025; cash balance was the highest in eight quarters.
Strategic Actions to Enhance Value and Delever
Board pivoting to sell non-core assets (intermodal plus two smaller legacy Omni businesses) representing approximately $390–$394 million of 2025 revenue (management cited roughly $230M intermodal and ~$160M for the two Omni units) to delever and focus on core services.
Macro Indicators and Pricing Tailwinds
Management highlighted favorable macro signs: Manufacturing PMIs above 50 for four months, inventory-to-sales ratios declining, and freight pricing momentum (spot truckload rates up ~40% since late last year and tender rejection rates ~2x).
Recognition and Brand Strength
Forward Air earned industry recognition — named 2026 Surface Carrier of the Year by the Air Forwarders Association and listed in Newsweek’s Most Trustworthy Companies in America 2026 — underscoring service reputation and transformation progress.
DE:FA20 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed