Forward Air (FWRD) Operating Expenses (2009 - 2026)

Forward Air has reported Operating Expenses for 18 years, with the latest figure at $561.6 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses rose 84.58% year-over-year to $561.6 million; the trailing twelve-month figure through Mar 2026 stood at $1.2 billion (down 77.33% YoY), and the FY2025 full-year result was $1.2 billion, down 64.82% from the prior year.
• Operating Expenses for Q1 2026 stood at $561.6 million, up from -$580.1 million in the prior quarter.
• The five-year high for Operating Expenses was $2.6 billion in Q4 2024, with the low at -$580.1 million in Q4 2025.
• Historically, Operating Expenses has averaged $558.3 million across 5 years, with a median of $438.4 million in 2022.
• Annual changes were most pronounced in 2023 — Operating Expenses surged 2203.02% — and 2025, when it tumbled 122.26%.
• Forward Air's Operating Expenses stood at $36.8 million in 2022, then surged by 2203.02% to $846.7 million in 2023, then soared by 207.8% to $2.6 billion in 2024, then tumbled by 122.26% to -$580.1 million in 2025, then jumped by 196.81% to $561.6 million in 2026.
• The last three Operating Expenses figures came in at $561.6 million (Q1 2026), -$580.1 million (Q4 2025), and $616.8 million (Q3 2025), per Business Quant data.