Forward Air (FWRD) EBITDA (2009 - 2026)

Forward Air has reported EBITDA for 18 years, with the latest figure at -$35.9 million in Q1 2026.

• For the quarter ending Q1 2026, EBITDA rose 41.03% year-over-year to -$35.9 million; the trailing twelve-month figure through Mar 2026 stood at -$97.5 million (up 91.48% YoY), and the FY2025 full-year result was -$104.5 million, up 87.25% from the prior year.
• EBITDA for Q1 2026 stood at -$35.9 million, down from -$29.9 million in the prior quarter.
• The five-year high for EBITDA was $101.7 million in Q4 2023, with the low at -$972.2 million in Q2 2024.
• Historically, EBITDA has averaged -$55.5 million across 5 years, with a median of -$8.0 million in 2025.
• Annual changes were most pronounced in 2022 — EBITDA jumped 281.77% — and 2024, when it sank 4972.92%.
• Forward Air's EBITDA stood at $42.9 million in 2022, then surged by 136.93% to $101.7 million in 2023, then plunged by 137.67% to -$38.3 million in 2024, then gained by 22.06% to -$29.9 million in 2025, then decreased by 20.28% to -$35.9 million in 2026.
• The last three EBITDA figures came in at -$35.9 million (Q1 2026), -$29.9 million (Q4 2025), and -$23.7 million (Q3 2025), per Business Quant data.