Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations and Comprehensive Loss

v3.25.1
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Operating revenue $ 613,281 $ 541,813
Operating expenses:    
Purchased transportation 304,262 277,015
Salaries, wages and employee benefits 141,915 128,867
Operating leases 48,792 38,803
Depreciation and amortization 37,360 31,786
Insurance and claims 15,007 12,881
Fuel expense 5,649 5,246
Other operating expenses 55,533 112,947
Total operating expenses 608,518 607,545
Income (loss) from operations 4,763 (65,732)
Other income and expenses:    
Interest expense, net (45,547) (40,753)
Foreign exchange loss (922) (668)
Other income, net 104 9
Total other expense (46,365) (41,412)
Net loss before income taxes (41,602) (107,144)
Income tax (benefit) expense 19,589 (18,350)
Net loss (61,191) (88,794)
Net loss attributable to non-controlling interest (10,554) (27,082)
Net loss attributable to Forward Air $ (50,637) $ (61,712)
Basic and diluted loss per share attributable to Forward Air    
Basic (in dollars per share) $ (1.68) $ (2.81)
Diluted (in dollars per share) $ (1.68) $ (2.81)
Other comprehensive income (loss):    
Foreign currency translation adjustments $ 265 $ (151)
Comprehensive loss (60,926) (88,945)
Comprehensive loss attributable to non-controlling interest (10,554) (27,082)
Comprehensive loss attributable to Forward Air $ (50,372) $ (61,863)