Q4 2025 Forward Air Corp (Delaware) Earnings Call Transcript
Key Points
- Forward Air Corp (FWRD) reported a solid consolidated EBITDA of $307 million for the full year 2025, showing resilience despite economic headwinds.
- The company successfully improved its adjusted EBITDA by $40 million year-over-year, reaching $293 million in 2025.
- Forward Air Corp (FWRD) has made significant progress in its strategic alternatives review process, nearing a conclusion.
- The company has unified its US domestic operations under the One Ground Network, creating a more cohesive and scalable operating model.
- Forward Air Corp (FWRD) unveiled a new Latin America regional structure, strengthening its global logistics network and enhancing service offerings.
- The logistics environment and broader economic backdrop have been challenging, contributing to the length of the strategic review process.
- The Intermodal segment faced a challenging market with declining shipments and revenue per shipment due to trade-related softness and seasonality.
- Operating expenses were negatively impacted by a $20 million charge for the impairment of software implementation costs.
- The company experienced a decline in tonnage in the Expedited Freight segment, although it managed to improve EBITDA margins.
- Cash used by operating activities in the fourth quarter was $23 million, the same as the previous year, indicating ongoing cash flow challenges.
Good afternoon, everyone. Welcome to Forward Air's fourth-quarter and full year 2025 earnings conference call.
(Operator Instructions)
I would now like to turn the call over to Mr. Tony Carreno, Senior Vice President of Treasury and Investor Relations. Please go ahead, sir.
± - ()-
Thank you, operator, and good afternoon, everyone. Welcome to Forward Air's fourth-quarter and year-end 2025 earnings conference call. With us this afternoon are Shawn Stewart, President and Chief Executive Officer; and Jamie Pierson, Chief Financial Officer.
By now, you should have received the press release announcing Forward Air's fourth-quarter 2025 results, which was also furnished to the SEC on Form 8-K. We have also furnished a slide presentation outlining fourth-quarter 2025 earnings highlights and a business update. Both the press release and slide presentation for this call are accessible on the Investor
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