Forward Air (FWRD) Revenue & Revenue Breakdown

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Forward Air Revenue Highlights

Latest Revenue (Y)

$2.47B

Latest Revenue (Q)

$618.84M

Main Segment (Y)

Expedited Freight Segment

Forward Air Revenue by Period

Forward Air Revenue by Year

Date	Revenue	Change
2024-12-31	$2.47B	80.51%
2023-12-31	$1.37B	-30.54%
2022-12-31	$1.97B	18.71%
2021-12-31	$1.66B	30.94%
2020-12-31	$1.27B	-9.98%
2019-12-31	$1.41B	6.78%
2018-12-31	$1.32B	19.99%
2017-12-31	$1.10B	12.04%
2016-12-31	$982.53M	2.44%
2015-12-31	$959.13M	22.81%
2014-12-31	$780.96M	19.69%
2013-12-31	$652.48M	11.64%
2012-12-31	$584.45M	8.96%
2011-12-31	$536.40M	10.84%
2010-12-31	$483.94M	15.94%
2009-12-31	$417.41M	-12.02%
2009-02-24	$474.44M	20.80%
2008-02-19	$392.74M	11.33%
2006-12-31	$352.76M	9.92%
2005-12-31	$320.93M	13.73%
2004-12-31	$282.20M	16.84%
2003-12-31	$241.52M	6.83%
2002-12-31	$226.07M	-0.63%
2001-12-31	$227.50M	5.86%
2000-12-31	$214.91M	25.79%
1999-12-31	$170.84M	30.98%
1998-12-31	$130.44M	-31.49%
1997-12-31	$190.40M	21.20%
1996-12-31	$157.10M	6.08%
1995-12-31	$148.10M	9.70%
1994-12-31	$135.00M	41.66%
1993-12-31	$95.30M	-

Forward Air generated $2.47B in revenue during NA 2024, up 80.51% compared to the previous quarter, and up 175.43% compared to the same period a year ago.

Forward Air Revenue by Quarter

Date	Revenue	Change
2025-06-30	$618.84M	0.91%
2025-03-31	$613.28M	-3.09%
2024-12-31	$632.85M	-3.52%
2024-09-30	$655.94M	1.91%
2024-06-30	$643.67M	18.80%
2024-03-31	$541.81M	60.10%
2023-12-31	$338.43M	-0.75%
2023-09-30	$340.98M	-15.22%
2023-06-30	$402.18M	-5.83%
2023-03-31	$427.07M	-11.25%
2022-12-31	$481.20M	-5.65%
2022-09-30	$510.02M	-1.01%
2022-06-30	$515.22M	10.33%
2022-03-31	$466.96M	1.53%
2021-12-31	$459.93M	9.60%
2021-09-30	$419.63M	-0.25%
2021-06-30	$420.67M	16.14%
2021-03-31	$362.20M	3.39%
2020-12-31	$350.34M	5.53%
2020-09-30	$332.00M	17.86%
2020-06-30	$281.68M	-17.76%
2020-03-31	$342.51M	-10.22%
2019-12-31	$381.50M	5.49%
2019-09-30	$361.66M	4.60%
2019-06-30	$345.76M	7.55%
2019-03-31	$321.47M	-9.84%
2018-12-31	$356.56M	7.60%
2018-09-30	$331.38M	0.31%
2018-06-30	$330.34M	9.17%
2018-03-31	$302.61M	-1.15%
2017-12-31	$306.12M	9.25%
2017-09-30	$280.20M	4.74%
2017-06-30	$267.52M	8.31%
2017-03-31	$246.98M	-6.73%
2016-12-31	$264.79M	6.11%
2016-09-30	$249.55M	4.57%
2016-06-30	$238.64M	3.96%
2016-03-31	$229.55M	-10.48%
2015-12-31	$256.42M	3.77%
2015-09-30	$247.09M	-1.04%
2015-06-30	$249.69M	21.26%
2015-03-31	$205.92M	-3.80%
2014-12-31	$214.06M	6.25%
2014-09-30	$201.48M	3.93%
2014-06-30	$193.85M	12.99%
2014-03-31	$171.57M	-5.25%
2013-12-31	$181.09M	6.50%
2013-09-30	$170.03M	6.40%
2013-06-30	$159.80M	12.89%
2013-03-31	$141.56M	-8.98%
2012-12-31	$155.53M	8.37%
2012-09-30	$143.51M	-3.24%
2012-06-30	$148.33M	8.20%
2012-03-31	$137.08M	-7.54%
2011-12-31	$148.26M	9.22%
2011-09-30	$135.75M	2.69%
2011-06-30	$132.19M	9.98%
2011-03-31	$120.20M	-9.83%
2010-12-31	$133.31M	9.70%
2010-09-30	$121.52M	-0.50%
2010-06-30	$122.13M	14.17%
2010-03-31	$106.98M	-9.36%
2009-12-31	$118.02M	14.49%
2009-09-30	$103.08M	3.39%
2009-06-30	$99.70M	3.19%
2009-03-31	$96.62M	-21.74%
2008-12-31	$123.45M	1.62%
2008-09-30	$121.48M	-0.06%
2008-06-30	$121.56M	12.62%
2008-03-31	$107.94M	-5.72%
2007-12-31	$114.49M	-

Forward Air generated $618.84M in revenue during Q2 2025, up 0.91% compared to the previous quarter, and up 114.22% compared to the same period a year ago.

Forward Air Revenue Breakdown

Forward Air Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 24	Dec 23	Dec 22	Dec 21	Dec 20
Expedited Freight Segment	$1.12B	$1.10B	$1.55B	$1.37B	-
Intermodal Segment	$232.83M	$273.93M	$419.70M	$289.17M	-
Intersegment Eliminations	-	-	-	-	$-2.33M
Intermodal	-	-	-	-	$199.57M
Expedited Freight	-	-	-	-	$1.07B

Forward Air's latest annual revenue breakdown by segment (product or service), as of Dec 24: Expedited Freight Segment (82.73%), and Intermodal Segment (17.27%).

Quarterly Revenue by Product

Product/Service	Jun 25	Mar 25	Dec 24	Sep 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Sep 20	Jun 20	Mar 20
Intermodal Segment	$59.15M	$62.49M	$119.34M	$57.27M	$56.22M	$59.40M	$62.13M	$64.22M	$88.16M	$108.44M	$114.42M	$106.41M	$90.44M	$83.39M	$78.16M	$69.12M	$58.50M	-	-	-
Expedited Freight Segment	$257.70M	$249.38M	$557.16M	$284.71M	$273.30M	$68.68M	$351.35M	$338.00M	$338.93M	$372.81M	$395.63M	$408.86M	$376.59M	$376.79M	$341.56M	$351.74M	$304.19M	-	-	-
Corporate Segment	$-142.00K	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intersegment Eliminations	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$34.00K	$-1.00K	-
Other revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$7.38M	$6.20M	$6.29M
Network revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$169.30M	$134.17M	$152.01M
Final Mile revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$56.99M	$53.43M	$47.80M
Expedited Freight	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$283.02M	$235.42M	$250.67M
Truckload revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$49.84M	$41.86M	$45.06M
Intermodal	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$48.94M	$46.42M	$52.45M
Pool Distribution	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$39.38M

Forward Air's latest quarterly revenue breakdown by segment (product or service), as of Jun 25: Expedited Freight Segment (81.37%), Intermodal Segment (18.68%), and Corporate Segment (-0.04%).

Forward Air Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
VSTS	Vestis	$2.81B	$673.80M
FWRD	Forward Air	$2.47B	$618.84M
CODI	Compass Diversified	$2.20B	$582.62M
NX	Quanex Building Products	$1.28B	$495.27M
SNCY	Sun Country Airlines	$1.08B	$255.54M
HTLD	Heartland Express	$1.05B	$196.55M
ASPN	Aspen Aerogels	$452.70M	$73.02B
FIP	FTAI Infrastructure	$331.50M	$140.56M
CYRX	Cryoport	$228.38M	$44.23M
EH	EHang	$117.43M	$61.73M
TE	T1 Energy	$2.94M	$66.47M

FWRD Revenue FAQ

What is Forward Air’s yearly revenue?

Forward Air's yearly revenue for 2024 was $2.47B, representing an increase of 80.51% compared to 2023. The company's yearly revenue for 2023 was $1.37B, representing a decrease of -30.54% compared to 2022. FWRD's yearly revenue for 2022 was $1.97B, representing an increase of 18.71% compared to 2021.

What is Forward Air’s quarterly revenue?

Forward Air's quarterly revenue for Q2 2025 was $618.84M, a 0.91% increase from the previous quarter (Q1 2025), and a -3.86% decrease year-over-year (Q2 2024). The company's quarterly revenue for Q1 2025 was $613.28M, a -3.09% decrease from the previous quarter (Q4 2024), and a 13.19% increase year-over-year (Q1 2024). FWRD's quarterly revenue for Q4 2024 was $632.85M, a -3.52% decrease from the previous quarter (Q3 2024), and a 87.00% increase year-over-year (Q4 2023).

What is Forward Air’s revenue growth rate?

Forward Air's revenue growth rate for the last 3 years (2022-2024) was 25.38%, and for the last 5 years (2020-2024) was 94.89%.

What are Forward Air’s revenue streams?

Forward Air's revenue streams in c 24 are Expedited Freight Segment, and Intermodal Segment. Expedited Freight Segment generated $1.12B in revenue, accounting 82.73% of the company's total revenue, up 1.66% year-over-year. Intermodal Segment generated $232.83M in revenue, accounting 17.27% of the company's total revenue, down -15.00% year-over-year.

What is Forward Air’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of Forward Air was Expedited Freight Segment. This segment made a revenue of $1.12B, representing 82.73% of the company's total revenue.