Forward Air Corporation reported its first quarter 2025 financial results on May 7, 2025, with operating revenues increasing 13.2% to $613.281 million from $541.813 million in Q1 2024. This growth was primarily driven by the full quarter inclusion of Omni Logistics results.
The company swung to an income from operations of $4.763 million, a significant improvement from a loss of $65.732 million in Q1 2024. However, Forward Air still reported a net loss attributable to the company of $(50.637) million, though this was a decrease from the $(61.712) million loss in the prior year.
Net cash provided by operating activities saw a substantial improvement, reaching $27.615 million compared to a use of $51.719 million in Q1 2024. Consolidated EBITDA for the quarter was between $54 million and $59 million, and total liquidity stood at $393 million.
Segment performance was mixed: Expedited Freight revenues decreased by 8.8% due to lower tonnage and shipments, with operating income declining 19.8%. Omni Logistics revenues increased 43.9% and swung to an operating income of $3.375 million. The Intermodal segment performed strongly, with revenues up 11.0% and operating income growing 54.5%.
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