Forward Air Posts $6.38 Q2 Loss Per Share, Deepening Red Ink
FWRD has more than doubled off its 52-week low of $7.855.
Summary
Forward Air reported a Q2 loss of $6.38 per share, a sharp deterioration from the $1.30 loss in Q1. The result follows the July 21 MOU with its largest customer, which locked in only $125M–$187.5M of a previously ~$250M annual revenue stream. The magnitude of the loss suggests the customer transition is hitting faster and harder than the Q1 filing implied. With a market cap near $487M, a quarterly loss of this size raises urgent questions about cash burn and covenant compliance. The next 10-Q will detail the full impact on liquidity and the pace of non-core asset sales.
At the time of this announcement, FWRD was trading at $17.13 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $487.3M. The 52-week trading range was $7.86 to $32.00. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.