Expedited Freight was Forward Air’s largest segment in fiscal 2025, bringing in $1.01B of $1.24B (81%).
| Segment | FY 2011 | FY 2013 | FY 2014 | FY 2015 | FY 2017 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Omni Logistics | — | — | $1.20B | — | ||||||||
| Expedited Freight | $947.82M | $845.95M | $854.14M | $1.01B | ||||||||
| Expedited Ltl | — | — | — | — | ||||||||
| Forward Air | — | — | — | — | ||||||||
| Intermodal | $419.72M | $274.04M | $232.83M | $230.53M | ||||||||
| Truckload Premium Services | — | — | — | — | ||||||||
| Pool Distribution | — | — | — | — | ||||||||
| Fasi | — | — | — | — | ||||||||
| Tqi | — | — | — | — | ||||||||
| Business Intersegment, Eliminations | — | — | — | — | ||||||||
| Corporate | — | — | $164.00K | — | ||||||||
| Total | $1.37B | $1.12B | $2.28B | $1.24B |
Forward Air brought in $1.24B from its two segments in fiscal 2025, the year ended December 31, 2025. That is less than the $2.50B it reports by geography, so these segments do not cover all of its revenue. Expedited Freight was the largest at $1.01B (81.5%), ahead of Intermodal at $230.53M (18.5%).
Compared with fiscal 2024, Expedited Freight grew 18.5% to $1.01B, while Intermodal fell 1.0% to $230.53M. Some of that change comes from Forward Air regrouping its segments.
Forward Air stopped reporting Omni Logistics ($1.20B in fiscal 2024) and Corporate ($164.00K in fiscal 2024) as separate segments.
United States Federal was Forward Air’s largest region in fiscal 2025, bringing in $2.17B of $2.50B (87%).
| Geography | FY 2025 |
|---|---|
| United States Federal | $2.17B |
| Foreign Operations | $330.04M |
| Total | $2.50B |
Forward Air brought in $2.50B from its two regions in fiscal 2025, the year ended December 31, 2025. United States Federal was the largest at $2.17B (86.8%), ahead of Foreign Operations at $330.04M (13.2%).
Previously Reported was Forward Air’s largest revenue line in fiscal 2016, bringing in $570.78M of $644.22M (89%).
| Restatement | FY 2016 |
|---|---|
| Previously Reported | $570.78M |
| Restatement Adjustment | $73.44M |
| Total | $644.22M |
Forward Air brought in $644.22M from its two revenue lines in fiscal 2016, the year ended December 31, 2016. Previously Reported was the largest at $570.78M (88.6%), ahead of Restatement Adjustment at $73.44M (11.4%).
Forward Air (FWRD) reports its revenue by segment, by geography and by restatement. In fiscal 2025, Expedited Freight was its largest segment, bringing in $1.01B (81.5% of the total), followed by Intermodal at $230.53M (18.5%).
Expedited Freight was Forward Air's largest segment in fiscal 2025, bringing in $1.01B, or 81.5% of the $1.24B total across its two segments.
United States Federal was Forward Air's largest region in fiscal 2025, bringing in $2.17B, or 86.8% of the $2.50B total across its two regions.
Previously Reported was Forward Air's largest revenue line in fiscal 2016, bringing in $570.78M, or 88.6% of the $644.22M total across its two revenue lines.
Every figure comes from Forward Air's annual financial filings, as reported. Each line keeps the name Forward Air gives it, and years follow its fiscal calendar.
Forward Air's revenue by segment goes back to fiscal 2011, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.