Forward Air Pauses Intermodal Sale Process With 15% to 18% Excess Capacity

Forward Air paused the sale process for its intermodal business and said its network had 15% to 18% excess capacity as the company reported its third-quarter results.

Operating revenue totaled $674 million, and operating income was $44 million. Consolidated EBITDA rose nearly 30% to $101 million, with a 15.1% margin.

Forward Air expects fourth-quarter trends to be similar to those in the third quarter. The company noted that the quarter has fewer working days and follows typical seasonal patterns.

The company also expects revenue from services retained under a two-year agreement with one of its largest customers to exceed $250 million. Those services generated $250 million in 2025. Under the agreement, the customer continues working with Forward Air across a substantial portion of the services the company had handled for it.