Forward Air Corp Dossier
Outlook & Key Dates
Estimates, guidance, catalysts, and upcoming events
Analyst Estimates Learn more →
Analyst Coverage
2analysts covering
FY Revenue (est.)
$2.6Bnext fiscal year
Monitoring Framework
Key Performance Indicators
Consolidated EBITDA Quarterly70.4MTarget: Maintain positive trajectory to support deleveraging
Net Leverage Ratio Quarterly5.4xTarget: Below 3.0x
Total Liquidity Quarterly402MTarget: Maintain strong cash and credit availability cushion
Watch Items
- Omni Logistics Integration and Synergy RealizationTrigger: Failure to sustain or exceed the $100 million+ annualized synergy run-rateAction: Implement further cost-reduction measures and operational consolidation under the One Ground Network
- Major Customer Transition RiskTrigger: Transition of contract logistics business representing up to $250 million in 2025 revenue starting early 2027Action: Explore options to retain portions of the business and aggressively price new profitable customer acquisitions to backfill volume
- Debt Covenant HeadroomTrigger: Leverage ratio approaching the 6.25x credit agreement covenant limitAction: Accelerate non-core asset sales (such as Intermodal or specific Omni business units) to pay down debt
Research as of 19 Jun 2026