Forward Air Corporation reported its fourth quarter and full year 2024 financial results on February 26, 2025. For Q4 2024, the company posted operating revenue of $632.8 million and a net loss of $(1.23) per share. This included a $79 million goodwill impairment charge related to its Omni Logistics business.
For the full year 2024, revenue grew 80% to $2.5 billion, primarily driven by the Omni acquisition. However, the company reported a full-year net loss of $(29.43) per share. The Expedited Freight segment was negatively impacted by a prior pricing strategy that prioritized volume over profitability.
Consolidated EBITDA for Q4 2024 stood at $69 million, and liquidity at year-end 2024 was $382 million. While the Omni integration contributed to significant revenue expansion, the company faced challenges in profitability and asset valuation, particularly within its legacy Expedited Freight segment.
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