Forward Air Corporation Income Statement
Concept
Total Revenue
YoY
Cost of Goods Sold (COGS)
Gross Profit
Operating expenses
Selling, General & Administrative
Research & Development
Operating Income
Interest Expense
Income Before Tax
Tax Provision
Net Income
YoY
Total Expenses
Net Interest Income
EBITDA
Reconciled Depreciation
EBIT
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1,371M
-30.54%
1,283M
88M
242M
50M
0M
88M
32M
57M
14M
11M
-94.15%
1,283M
-32M
146M
57M
88M
1,973M
18.71%
1,427M
547M
281M
50M
3M
266M
5M
261M
68M
193M
82.50%
1,707M
-5M
313M
47M
266M
1,662M
30.94%
1,297M
365M
206M
42M
2M
159M
4M
155M
39M
106M
100.62%
1,503M
-4M
199M
40M
159M
1,270M
-9.98%
1,040M
229M
155M
35M
2M
74M
5M
69M
17M
53M
-39.42%
1,196M
-5M
111M
37M
74M
1,410M
6.78%
1,123M
288M
169M
45M
2M
119M
3M
116M
29M
87M
-5.38%
1,292M
-3M
161M
42M
119M
1,321M
19.99%
1,055M
266M
144M
35M
0M
122M
2M
120M
28M
92M
5.42%
1,199M
-2M
164M
42M
122M
1,101M
12.04%
864M
237M
128M
30M
0M
109M
1M
107M
20M
87M
215.58%
992M
-1M
150M
41M
109M
983M
2.44%
767M
215M
113M
25M
0M
60M
2M
58M
31M
28M
-50.21%
880M
-2M
141M
0M
102M
959M
22.81%
769M
190M
109M
21M
0M
82M
2M
80M
24M
56M
-9.15%
877M
0M
119M
0M
82M
781M
19.69%
602M
179M
83M
16M
0M
96M
1M
96M
0M
61M
12.30%
685M
0M
128M
0M
97M
652M
11.64%
505M
148M
63M
13M
0M
84M
1M
84M
0M
54M
3.42%
568M
0M
108M
0M
84M
584M
8.96%
447M
138M
54M
11M
0M
84M
0M
83M
0M
53M
11.59%
501M
0M
105M
0M
84M
536M
10.84%
269M
267M
190M
131M
0M
77M
1M
77M
0M
47M
47.33%
459M
0M
98M
0M
77M
484M
15.94%
175M
309M
186M
129M
0M
54M
1M
53M
0M
32M
222.10%
361M
0M
74M
0M
54M
417M
-12.02%
145M
273M
173M
119M
0M
19M
1M
18M
0M
10M
-76.62%
317M
0M
46M
0M
26M
474M
20.80%
181M
293M
207M
125M
0M
70M
1M
69M
0M
43M
-5.30%
388M
0M
87M
0M
70M
393M
11.33%
222M
171M
329M
96M
0M
71M
0M
72M
0M
45M
-8.17%
551M
0M
-150M
0M
-160M
353M
9.92%
194M
159M
283M
86M
0M
75M
0M
79M
0M
49M
8.94%
477M
0M
-119M
0M
-128M
321M
13.73%
176M
144M
259M
78M
0M
67M
0M
71M
0M
45M
30.47%
435M
0M
-109M
0M
-118M
282M
16.84%
159M
123M
234M
73M
0M
54M
0M
55M
0M
34M
33.34%
393M
0M
-105M
0M
-112M
242M
6.83%
140M
102M
206M
65M
0M
40M
0M
41M
0M
26M
19.43%
346M
0M
-98M
0M
-105M
226M
-0.63%
136M
91M
197M
58M
0M
33M
0M
34M
0M
22M
8.72%
333M
0M
-101M
0M
-108M
228M
5.86%
136M
91M
203M
66M
0M
32M
0M
32M
0M
20M
-15.20%
340M
0M
-105M
0M
-113M
215M
25.79%
125M
90M
181M
55M
0M
37M
0M
38M
0M
23M
46.17%
306M
0M
-86M
0M
-92M
171M
30.98%
101M
70M
146M
42M
0M
26M
0M
26M
0M
16M
57.97%
247M
0M
-72M
0M
-77M
130M
-31.49%
79M
52M
117M
36M
0M
16M
0M
15M
0M
10M
18.15%
196M
0M
-61M
0M
-65M
190M
21.20%
108M
82M
183M
73M
0M
17M
0M
14M
0M
9M
115.98%
292M
0M
-90M
0M
-101M
157M
6.08%
94M
63M
156M
60M
0M
9M
0M
6M
0M
4M
-11.58%
250M
0M
-82M
0M
-93M
148M
9.70%
62M
86M
52M
0M
0M
33M
0M
8M
0M
5M
12.50%
115M
0M
65M
0M
73M
135M
-
60M
76M
46M
0M
0M
30M
0M
7M
0M
4M
12.50%
105M
0M
58M
0M
64M
Concept
Total Revenue
YoY
Cost of Goods Sold (COGS)
Gross Profit
Operating expenses
Selling, General & Administrative
Research & Development
Operating Income
Interest Expense
Income Before Tax
Tax Provision
Net Income
YoY
Total Expenses
Net Interest Income
EBITDA
Reconciled Depreciation
EBIT
4Q2023
3Q2023
2Q2023
1Q2023
4Q2022
3Q2022
2Q2022
1Q2022
4Q2021
3Q2021
2Q2021
1Q2021
4Q2020
3Q2020
2Q2020
1Q2020
4Q2019
3Q2019
2Q2019
1Q2019
4Q2018
3Q2018
2Q2018
1Q2018
4Q2017
3Q2017
2Q2017
1Q2017
4Q2016
3Q2016
2Q2016
1Q2016
4Q2015
3Q2015
2Q2015
1Q2015
4Q2014
3Q2014
2Q2014
1Q2014
4Q2013
3Q2013
2Q2013
1Q2013
4Q2012
3Q2012
2Q2012
1Q2012
4Q2011
3Q2011
2Q2011
1Q2011
4Q2010
3Q2010
2Q2010
1Q2010
4Q2009
3Q2009
2Q2009
1Q2009
4Q2008
3Q2008
2Q2008
1Q2008
4Q2007
3Q2007
2Q2007
1Q2007
4Q2006
3Q2006
2Q2006
1Q2006
4Q2005
3Q2005
2Q2005
1Q2005
4Q2004
3Q2004
2Q2004
1Q2004
4Q2003
3Q2003
2Q2003
1Q2003
4Q2002
3Q2002
2Q2002
1Q2002
4Q2001
3Q2001
2Q2001
1Q2001
4Q2000
3Q2000
2Q2000
1Q2000
4Q1999
3Q1999
2Q1999
1Q1999
4Q1998
3Q1998
2Q1998
1Q1998
4Q1997
3Q1997
2Q1997
1Q1997
4Q1996
3Q1996
2Q1996
1Q1996
4Q1995
3Q1995
2Q1995
1Q1995
4Q1994
3Q1994
2Q1994
1Q1994
338M
-29.67%
335M
3M
44M
9M
0M
3M
24M
-21M
-9M
-54M
-225.63%
335M
-24M
21M
14M
3M
413M
-18.95%
369M
45M
398M
14M
0M
15M
3M
13M
4M
9M
-82.18%
767M
-3M
26M
16M
10M
402M
-21.94%
314M
88M
58M
13M
0M
30M
3M
28M
8M
20M
-64.01%
372M
-3M
45M
15M
30M
427M
-8.54%
311M
116M
65M
14M
0M
51M
2M
48M
12M
36M
-14.80%
377M
-2M
64M
14M
51M
481M
4.62%
343M
139M
77M
13M
3M
61M
2M
60M
17M
43M
6.12%
420M
-2M
74M
12M
61M
510M
21.54%
364M
146M
74M
12M
0M
72M
2M
70M
18M
52M
121.50%
438M
-2M
84M
12M
72M
515M
22.48%
369M
146M
70M
13M
0M
76M
1M
74M
19M
55M
80.69%
440M
-1M
87M
12M
76M
467M
28.92%
351M
116M
59M
12M
0M
57M
1M
57M
14M
43M
281.77%
410M
-1M
68M
11M
57M
460M
31.28%
347M
112M
60M
12M
0M
52M
1M
51M
13M
40M
-1,010.76%
408M
-1M
63M
11M
52M
420M
26.39%
324M
95M
53M
10M
0M
42M
1M
42M
11M
24M
41.38%
377M
-1M
52M
9M
42M
421M
49.34%
334M
87M
45M
11M
0M
42M
1M
41M
10M
31M
872.64%
379M
-1M
52M
9M
42M
362M
5.75%
292M
71M
48M
10M
0M
23M
1M
22M
5M
11M
33.50%
339M
-1M
32M
9M
23M
350M
-8.17%
285M
66M
45M
8M
0M
21M
1M
20M
4M
-4M
-118.38%
330M
-1M
30M
9M
21M
332M
-8.20%
269M
63M
39M
9M
0M
24M
1M
22M
5M
17M
-25.00%
308M
-1M
33M
9M
24M
282M
-18.53%
235M
47M
33M
8M
0M
14M
1M
13M
3M
3M
-85.88%
268M
-1M
22M
8M
14M
343M
6.54%
286M
56M
44M
12M
0M
12M
1M
11M
2M
8M
-54.50%
331M
-1M
22M
11M
12M
382M
7.00%
306M
75M
42M
12M
0M
33M
1M
32M
8M
24M
-12.70%
349M
-1M
43M
10M
33M
362M
9.14%
288M
74M
43M
11M
0M
31M
1M
30M
8M
22M
-0.60%
331M
-1M
41M
11M
31M
346M
4.67%
272M
73M
43M
13M
0M
31M
1M
30M
8M
22M
-8.10%
315M
-1M
41M
11M
31M
321M
6.23%
256M
65M
41M
9M
0M
25M
1M
24M
6M
18M
3.75%
297M
-1M
36M
11M
25M
357M
16.48%
284M
73M
38M
9M
0M
35M
0M
35M
0M
28M
-21.74%
322M
0M
46M
11M
35M
331M
18.26%
266M
65M
35M
9M
0M
30M
0M
29M
0M
22M
22.99%
301M
0M
40M
10M
30M
330M
23.48%
262M
69M
36M
10M
0M
33M
0M
32M
0M
24M
24.29%
297M
0M
43M
10M
33M
303M
22.52%
243M
59M
35M
7M
0M
24M
0M
24M
0M
18M
24.56%
278M
0M
35M
11M
24M
306M
15.61%
242M
64M
36M
8M
0M
29M
0M
28M
0M
35M
178.40%
277M
0M
39M
10M
29M
280M
12.28%
219M
61M
34M
8M
0M
27M
0M
27M
0M
18M
52.17%
253M
0M
37M
10M
27M
268M
12.10%
209M
59M
29M
8M
0M
30M
0M
30M
0M
20M
-294.22%
238M
0M
40M
10M
30M
247M
7.59%
194M
53M
29M
6M
0M
23M
0M
23M
0M
14M
8.73%
224M
0M
33M
10M
23M
265M
3.27%
208M
57M
28M
6M
0M
28M
0M
28M
0M
13M
-45.30%
237M
0M
38M
10M
28M
250M
1.00%
194M
55M
31M
7M
0M
25M
0M
24M
0M
12M
-23.94%
225M
0M
34M
9M
25M
239M
-4.43%
183M
55M
27M
7M
0M
-14M
0M
-15M
0M
-10M
-185.13%
211M
0M
37M
9M
28M
230M
11.48%
182M
48M
26M
5M
0M
21M
1M
21M
0M
13M
170.81%
208M
0M
31M
10M
21M
256M
19.79%
202M
55M
26M
5M
0M
29M
1M
29M
0M
23M
36.27%
227M
0M
39M
10M
29M
247M
22.64%
194M
53M
29M
5M
0M
25M
1M
24M
0M
16M
-6.31%
222M
0M
34M
9M
25M
250M
28.81%
201M
48M
28M
6M
0M
20M
1M
19M
0M
12M
-31.17%
230M
0M
29M
10M
20M
206M
20.02%
172M
34M
26M
5M
0M
8M
0M
8M
0M
5M
-52.59%
198M
0M
17M
9M
8M
214M
18.21%
165M
49M
23M
5M
0M
26M
0M
26M
0M
17M
9.37%
188M
0M
34M
8M
26M
201M
18.49%
153M
48M
21M
4M
0M
27M
0M
27M
0M
17M
17.94%
175M
0M
35M
8M
27M
194M
21.31%
148M
46M
18M
3M
0M
28M
0M
28M
0M
17M
24.20%
166M
0M
35M
8M
28M
172M
21.20%
135M
36M
20M
4M
0M
16M
0M
16M
0M
10M
-6.02%
155M
0M
23M
7M
16M
181M
16.43%
140M
41M
18M
3M
0M
23M
0M
23M
0M
16M
-2.35%
158M
0M
29M
6M
23M
170M
18.48%
131M
39M
16M
3M
0M
23M
0M
23M
0M
14M
15.73%
147M
0M
29M
6M
23M
160M
7.74%
123M
37M
15M
3M
0M
23M
0M
22M
0M
14M
-2.37%
137M
0M
28M
6M
23M
142M
3.27%
110M
31M
16M
3M
0M
16M
0M
16M
0M
11M
5.67%
126M
0M
21M
5M
16M
156M
4.90%
118M
38M
14M
3M
0M
24M
0M
24M
0M
16M
10.46%
131M
0M
29M
5M
24M
144M
5.72%
75M
68M
48M
32M
0M
20M
0M
19M
0M
12M
-5.00%
124M
0M
25M
5M
20M
148M
12.20%
77M
72M
49M
33M
0M
23M
0M
23M
0M
14M
18.36%
125M
0M
28M
5M
23M
137M
14.04%
72M
65M
49M
33M
0M
17M
0M
17M
0M
10M
30.55%
120M
0M
22M
5M
17M
148M
11.21%
75M
73M
50M
35M
0M
24M
0M
23M
0M
14M
22.27%
125M
0M
29M
5M
24M
136M
11.71%
67M
68M
48M
33M
0M
20M
0M
20M
0M
13M
45.27%
115M
0M
26M
5M
20M
132M
8.24%
65M
67M
47M
31M
0M
20M
0M
20M
0M
12M
51.28%
112M
0M
25M
5M
20M
120M
12.36%
62M
59M
45M
30M
0M
13M
0M
13M
0M
8M
130.16%
107M
0M
18M
5M
13M
133M
12.96%
117M
16M
48M
33M
0M
19M
0M
19M
0M
12M
88.05%
165M
0M
24M
5M
19M
122M
17.89%
45M
76M
45M
32M
0M
16M
0M
15M
0M
9M
135.19%
90M
0M
21M
5M
16M
122M
22.50%
44M
78M
48M
33M
0M
14M
0M
13M
0M
8M
178.20%
92M
0M
19M
5M
14M
107M
10.72%
38M
69M
45M
31M
0M
6M
0M
6M
0M
3M
-210.15%
83M
0M
11M
5M
6M
118M
-4.40%
41M
77M
45M
32M
0M
12M
0M
12M
0M
6M
-24.62%
87M
0M
17M
5M
12M
103M
-15.15%
37M
66M
42M
29M
0M
7M
0M
7M
0M
4M
-68.76%
79M
0M
12M
5M
7M
100M
-17.99%
35M
65M
42M
29M
0M
5M
0M
5M
0M
3M
-76.50%
77M
0M
10M
5M
5M
97M
-10.49%
32M
65M
43M
29M
0M
-5M
0M
-5M
0M
-3M
-131.02%
75M
0M
0M
5M
-5M
123M
7.83%
42M
82M
48M
32M
0M
14M
0M
14M
0M
8M
-32.80%
90M
0M
19M
5M
14M
121M
24.29%
47M
74M
51M
30M
0M
19M
0M
19M
0M
12M
12.50%
99M
0M
23M
4M
19M
122M
30.51%
44M
78M
43M
29M
0M
20M
0M
20M
0M
12M
5.46%
86M
0M
24M
4M
20M
108M
23.57%
36M
72M
41M
26M
0M
17M
0M
17M
0M
10M
-2.77%
77M
0M
21M
4M
17M
114M
22.83%
64M
51M
97M
25M
0M
20M
0M
20M
0M
12M
1.93%
161M
0M
-43M
3M
-46M
98M
8.08%
56M
42M
82M
25M
0M
17M
0M
17M
0M
11M
-15.50%
138M
0M
-38M
3M
-41M
93M
7.34%
52M
41M
77M
24M
0M
18M
0M
19M
0M
11M
-11.87%
129M
0M
-34M
2M
-36M
87M
6.10%
50M
37M
73M
22M
0M
16M
0M
17M
0M
10M
-6.50%
123M
0M
-34M
2M
-37M
93M
4.64%
53M
40M
76M
21M
0M
19M
0M
20M
0M
12M
-0.23%
129M
0M
-34M
2M
-36M
90M
6.60%
50M
40M
72M
21M
0M
20M
0M
21M
0M
13M
5.47%
122M
0M
-31M
2M
-33M
87M
11.99%
47M
40M
69M
22M
0M
20M
0M
21M
0M
13M
8.93%
115M
0M
-27M
2M
-29M
82M
18.40%
44M
38M
67M
22M
0M
17M
0M
18M
0M
11M
26.63%
111M
0M
-27M
2M
-29M
89M
14.82%
49M
40M
72M
21M
0M
19M
0M
19M
0M
12M
20.83%
121M
0M
-30M
2M
-33M
85M
17.99%
46M
39M
67M
19M
0M
19M
0M
19M
0M
12M
33.88%
113M
0M
-26M
3M
-29M
77M
13.27%
42M
35M
63M
20M
0M
17M
0M
19M
0M
12M
40.50%
105M
0M
-28M
2M
-30M
70M
8.13%
39M
31M
57M
18M
0M
13M
0M
14M
0M
9M
27.69%
96M
0M
-25M
2M
-27M
78M
19.02%
43M
35M
63M
19M
0M
16M
0M
16M
0M
10M
31.06%
106M
0M
-27M
2M
-28M
72M
18.83%
41M
31M
59M
18M
0M
14M
0M
14M
0M
9M
42.39%
100M
0M
-27M
2M
-29M
68M
15.61%
38M
30M
57M
19M
0M
13M
0M
14M
0M
9M
34.01%
95M
0M
-25M
2M
-27M
64M
13.52%
37M
27M
55M
18M
0M
11M
0M
11M
0M
7M
25.26%
92M
0M
-26M
2M
-28M
65M
9.79%
37M
28M
55M
16M
0M
12M
0M
12M
0M
8M
13.10%
92M
0M
-25M
2M
-27M
61M
5.34%
35M
25M
52M
16M
0M
10M
0M
10M
0M
6M
38.79%
87M
0M
-25M
2M
-27M
59M
5.00%
34M
25M
50M
16M
0M
10M
0M
10M
0M
6M
18.70%
84M
0M
-24M
2M
-25M
57M
7.09%
33M
23M
49M
16M
0M
9M
0M
9M
0M
5M
10.99%
83M
0M
-24M
2M
-26M
59M
5.17%
35M
24M
50M
13M
0M
9M
0M
10M
0M
7M
48.92%
85M
0M
-25M
2M
-27M
57M
7.67%
35M
22M
52M
16M
0M
7M
0M
7M
0M
5M
10.49%
87M
0M
-28M
2M
-30M
56M
-1.07%
34M
23M
49M
15M
0M
8M
0M
9M
0M
5M
6.60%
83M
0M
-25M
2M
-27M
53M
-8.38%
31M
22M
46M
15M
0M
8M
0M
8M
0M
5M
-25.72%
78M
0M
-23M
2M
-25M
56M
-2.22%
35M
22M
52M
18M
0M
7M
0M
7M
0M
5M
-30.64%
87M
0M
-16M
15M
-30M
53M
-0.64%
33M
21M
48M
15M
0M
7M
0M
7M
0M
4M
-32.84%
81M
0M
-26M
-2M
-23M
57M
5.38%
34M
23M
51M
16M
0M
8M
0M
8M
0M
5M
-17.98%
85M
0M
-26M
-2M
-24M
58M
16.86%
34M
24M
48M
14M
0M
10M
0M
11M
0M
7M
43.67%
82M
0M
-15M
10M
-25M
58M
16.09%
34M
24M
48M
14M
0M
-25M
0M
11M
0M
7M
22.43%
82M
0M
12M
2M
11M
54M
26.07%
31M
23M
45M
14M
0M
10M
0M
10M
0M
6M
53.43%
75M
0M
-20M
-1M
-19M
54M
32.56%
31M
23M
45M
14M
0M
10M
0M
10M
0M
6M
72.34%
76M
0M
-21M
-1M
-19M
49M
30.96%
29M
20M
43M
13M
0M
7M
0M
7M
0M
5M
48.03%
72M
0M
-21M
-1M
-20M
50M
32.64%
29M
21M
94M
12M
0M
-74M
0M
9M
0M
5M
80.16%
124M
0M
-65M
9M
-74M
43M
27.72%
25M
18M
18M
11M
0M
-1M
0M
7M
0M
4M
62.28%
43M
0M
1M
-1M
2M
41M
32.67%
24M
16M
18M
10M
0M
-1M
0M
6M
0M
4M
44.54%
42M
0M
0M
-1M
1M
38M
-28.62%
22M
15M
16M
9M
0M
-1M
0M
5M
0M
3M
38.33%
39M
0M
0M
-1M
1M
37M
-29.84%
22M
16M
73M
9M
0M
-57M
0M
5M
0M
3M
10.58%
94M
0M
-49M
8M
-57M
33M
-33.89%
20M
13M
15M
9M
0M
-2M
0M
4M
0M
2M
-22.29%
36M
0M
-1M
-1M
0M
31M
-32.44%
19M
12M
14M
9M
0M
-3M
0M
3M
0M
2M
26.34%
33M
0M
-1M
1M
-3M
53M
28.90%
30M
23M
30M
20M
0M
-7M
0M
4M
0M
2M
190.66%
60M
0M
-4M
-3M
-1M
53M
27.45%
30M
23M
103M
20M
0M
-80M
0M
4M
0M
3M
98.46%
133M
0M
-60M
19M
-80M
50M
28.40%
28M
23M
28M
18M
0M
-5M
0M
5M
0M
3M
258.06%
56M
0M
-3M
-3M
0M
46M
16.99%
26M
20M
27M
18M
0M
-7M
0M
3M
0M
2M
62.14%
53M
0M
-4M
-3M
-2M
41M
10.89%
25M
16M
25M
17M
0M
-9M
0M
1M
0M
1M
45.20%
50M
0M
-6M
-3M
-4M
42M
8.91%
25M
17M
87M
16M
0M
-70M
0M
2M
0M
1M
-2.71%
112M
0M
-52M
18M
-70M
39M
4.79%
24M
16M
24M
16M
0M
-9M
0M
1M
0M
1M
-26.08%
48M
0M
-6M
-3M
-3M
39M
6.85%
23M
16M
23M
14M
0M
-7M
0M
2M
0M
1M
-7.77%
46M
0M
-4M
-3M
-2M
37M
3.58%
22M
15M
22M
14M
0M
-7M
0M
1M
0M
1M
-24.14%
44M
0M
-5M
-3M
-2M
39M
7.54%
22M
17M
4M
0M
0M
13M
0M
2M
0M
1M
600.00%
25M
0M
38M
-2M
41M
38M
0.27%
13M
25M
17M
0M
0M
8M
0M
2M
0M
1M
-20.00%
30M
0M
10M
-2M
12M
36M
5.20%
13M
23M
16M
0M
0M
7M
0M
2M
0M
1M
-27.78%
30M
0M
9M
-2M
11M
36M
31.25%
14M
22M
16M
0M
0M
6M
0M
1M
0M
1M
16.67%
30M
0M
8M
-2M
10M
36M
-
-11M
47M
24M
0M
0M
23M
0M
0M
0M
0M
16.67%
13M
0M
46M
-2M
48M
37M
-
27M
11M
8M
0M
0M
3M
0M
3M
0M
2M
16.67%
35M
0M
5M
-2M
6M
35M
-
24M
11M
8M
0M
0M
3M
0M
3M
0M
2M
16.67%
31M
0M
5M
-2M
6M
27M
-
10M
17M
16M
0M
0M
1M
0M
1M
0M
1M
16.67%
26M
0M
2M
-1M
3M