Forward Air's second quarter revenue of $673M beat estimates, while a $244M writedown caused a large GAAP EPS miss.

Forward Air reported record second-quarter operating revenue of $673.0 million, an 8.8% increase year-over-year. However, a significant $244 million non-cash goodwill impairment charge related to the Omni Logistics segment resulted in a GAAP net loss per diluted share of ($6.33).

Key Highlights

• Record quarterly operating revenue of $673.0 million, up 8.8% from $618.8 million in the prior-year period.
• The company recorded a non-cash goodwill impairment charge of $244 million related to the Omni Logistics segment, leading to an operating loss of $201.3 million.
• Excluding the impairment, adjusted operating income was $42.7 million, more than doubling from $19.5 million in the second quarter of 2025.