Forward Air Corporation Reports Fourth Quarter and Full Year 2025 Results
DALLAS--( BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) (the “Company”, “we”, “our”, or “us”) today reported financial results for the three months and twelve months ended December 31, 2025, as presented in the tables below.
“We delivered solid results in 2025 despite less than favorable freight market conditions,” said Shawn Stewart, President & Chief Executive Officer. “For the full year we reported operating income of $36 million and Consolidated EBITDA of $307 million. During the year we diligently focused on what we could control including aligning our cost structure to match demand and executing our transformation strategy. We also unified our U.S. domestic ground operations and unveiled our new Latin American regional structure taking significant steps to strengthen our global logistics network.
“Our fourth quarter results were consistent with recent quarters, led by the Omni segment which continued to see strong demand for its diversified service offerings. This segment achieved its highest revenue, highest Reported EBITDA and highest Reported EBITDA margin, excluding the impact of goodwill adjustments, since we acquired the company in January 2024. Revenue increased by $34 million to $360 million compared to a year ago. Reported EBITDA increased by $4 million to $36 million and Reported EBITDA margin improved by 20 basis points to 10 percent compared to the fourth quarter 2024.
“At the Expedited Freight segment, we remained focused on charging the optimal price for freight moving through our network and actively managed expenses. Fourth quarter Reported EBITDA improved by $7 million to $25 million compared to the fourth quarter 2024. We also saw a meaningful improvement in year over year Reported EBITDA margin which increased by 350 basis points with a margin of 10.1 percent in the fourth quarter 2025 compared to 6.6 percent in the fourth quarter 2024.
“At the Intermodal segment, port activity was unfavorably impacted by trade-related softness and the typical seasonality contributed to declining shipments and revenue per shipment compared to a year ago. In the fourth quarter the Intermodal segment’s Reported EBITDA and margin were $7 million and 14.2 percent compared to $10 million and 17.5 percent a year ago. We have an experienced team leading the Intermodal segment and I am confident in their ability to deliver solid results as we manage through the current freight market,” concluded Stewart.
Jamie Pierson, Chief Financial Officer added, “We reported consolidated revenue of $631 million in the fourth quarter compared to $633 million a year ago. Consolidated EBITDA, a non-GAAP measure calculated pursuant to our Term Loan Credit Agreement, was $77 million compared to $72 million for the same period last year. For the full year 2025, Consolidated EBITDA was $307 million which is in line with the $311 million in 2024.
“Liquidity at the end of the fourth quarter was $367 million comprised of $106 million in cash and $261 million of availability under our credit facility. This compares to $382 million in liquidity at the end of 2024.
“Cash provided by operating activities was $44 million in 2025 compared to cash used in operating activities of $69 million in 2024, reflecting a year over year improvement of $113 million,” concluded Pierson.
Three Months Ended
(in thousands, except per share data)
December 31,
2025
December 31,
2024
Change
Percent Change
Operating revenue
$
631,230
$
632,846
$
(1,616
)
(0.3
)%
Income (loss) from continuing operations
$
(2,868
)
$
75,855
$
(78,723
)
(103.8
)%
Operating margin
(0.5
)%
12.0
%
(12.5)%
Loss from continuing operations
$
(36,413
)
$
(35,378
)
$
(1,035
)
(2.9
)%
Net loss attributable to Forward Air per diluted share
$
(0.91
)
$
(1.23
)
$
0.32
26.0
%
Cash provided by (used in) operating activities
$
(22,728
)
$
(23,245
)
$
517
2.2
%
Non-GAAP Financial Measures: 1
Consolidated EBITDA
$
76,628
$
72,263
$
4,365
6.0
%
Free cash flow
$
(30,664
)
$
(27,851
)
$
(2,813
)
(10.1
)%
1 Reconciliation of these non-GAAP financial measures are provided below the financial tables.
Twelve Months Ended
(in thousands, except per share data)
December 31,
2025
December 31,
2024
Change
Percent Change
Operating revenue
$
2,495,118
$
2,474,262
$
20,856
0.8
%
Income (loss) from continuing operations
$
36,424
$
(1,062,936
)
$
1,099,360
103.4
%
Operating margin
1.5
%
(43.0
)%
44.5%
Loss from continuing operations
$
(141,725
)
$
(1,124,841
)
$
983,116
87.4
%
Net loss attributable to Forward Air per diluted share
$
(3.51
)
$
(30.40
)
$
26.89
88.5
%
Cash provided by (used in) operating activities
$
44,384
$
(69,015
)
$
113,399
164.3
%
Non-GAAP Financial Measures: 1
Consolidated EBITDA
$
307,129
$
310,714
$
(3,585
)
(1.2
)%
Free cash flow
$
17,472
$
(100,938
)
$
118,410
117.3
%
1 Reconciliation of these non-GAAP financial measures are provided below the financial tables.
Review of Financial Results
Forward will hold a conference call to discuss the fourth quarter and full year 2025 results on Monday, February 23, 2026 at 4:30 p.m. ET. The Company’s conference call will be available online on the Investor Relations portion of the Company’s website at ir.forwardaircorp.com, or by dialing (800) 579-2543, Access Code: FWRDQ425.
A replay of the conference call will be available on the Investor Relations portion of the Company’s website at ir.forwardaircorp.com, which we use as a primary mechanism to communicate with our investors. Investors are urged to monitor the Investor Relations portion of the Company’s website to easily find or navigate to current and pertinent information about us.
About Forward Air Corporation
Forward is a leading asset-light provider of transportation services across the United States, Canada and Latin America. We provide expedited less-than-truckload services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals. In addition, we offer truckload brokerage services, including dedicated fleet services, and intermodal, first- and last-mile, high-value drayage services, both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services. Forward also operates a full portfolio of multimodal solutions, both domestically and internationally, via Omni Logistics. Omni Logistics is a global provider of air, ocean and ground services for mission-critical freight. We are more than a transportation company. Forward is a single resource for your shipping needs. For more information, visit our website at www.forwardaircorp.com.
Forward Air Corporation
Condensed Consolidated Statements of Comprehensive (Loss) Income
(Unaudited, in thousands, except per share data)
Three Months Ended
Twelve Months Ended
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024
Operating revenue:
Expedited Freight
$
246,928
$
265,879
$
1,012,559
$
1,115,163
Omni
359,794
325,609
1,351,164
1,196,841
Intermodal
50,563
59,829
230,533
232,832
Eliminations and other operations
(26,055
)
(18,471
)
(99,138
)
(70,574
)
Operating revenue
631,230
632,846
2,495,118
2,474,262
Operating expenses:
Purchased transportation
320,519
319,498
1,244,471
1,250,570
Salaries, wages and employee benefits
116,367
130,024
535,681
536,406
Operating leases
53,581
48,326
204,029
182,197
Depreciation and amortization
40,724
37,657
152,638
143,978
Insurance and claims
15,709
19,721
58,970
64,682
Fuel expense
4,166
5,500
20,122
21,460
Other operating expenses
83,032
75,333
242,783
309,508
Impairment of goodwill
—
(79,068
)
—
1,028,397
Total operating expenses
634,098
556,991
2,458,694
3,537,198
Income (loss) from continuing operations:
Expedited Freight
15,206
7,238
69,780
67,951
Omni Logistics
9,852
88,520
30,162
(1,044,803
)
Intermodal
2,865
5,931
16,924
18,925
Other Operations
(30,791
)
(25,834
)
(80,442
)
(105,009
)
Income (loss) from continuing operations
(2,868
)
75,855
36,424
(1,062,936
)
Other expense:
Interest expense, net
(45,099
)
(48,427
)
(180,747
)
(189,215
)
Foreign exchange loss
222
3,005
(5,892
)
1,093
Other income (expense), net
2,635
1,188
3,018
1,226
Total other expense
(42,242
)
(44,234
)
(183,621
)
(186,896
)
Income (loss) from continuing operations before income taxes
(45,110
)
31,621
(147,197
)
(1,249,832
)
Income tax (benefit) expense
(8,697
)
66,999
(5,472
)
(124,991
)
Loss from continuing operations
(36,413
)
(35,378
)
(141,725
)
(1,124,841
)
Loss from discontinued operations, net of tax
—
(374
)
—
(6,387
)
Net loss
(36,413
)
(35,752
)
$
(141,725
)
$
(1,131,228
)
Net income (loss) attributable to noncontrolling interest
(8,087
)
664
(33,929
)
(314,259
)
Net loss attributable to Forward Air
$
(28,326
)
$
(36,416
)
$
(107,796
)
$
(816,969
)
Basic and diluted loss per share attributable to Forward Air:
Continuing operations
$
(0.91
)
$
(1.23
)
$
(3.51
)
$
(30.40
)
Discontinued operation
(0.01
)
—
(0.23
)
Net loss per basic and diluted share
$
(0.91
)
$
(1.24
)
$
(3.51
)
$
(30.63
)
Expedited Freight Segment Information
(In thousands)
(Unaudited)
Three Months Ended
December 31,
2025
Percent of Revenue
December 31,
2024
Percent of Revenue
Change
Percent Change
Operating revenue:
Network 1
$
183,914
74.5
%
$
199,022
74.8
%
$
(15,108
)
(7.6
)%
Truckload
41,597
16.8
45,087
17.0
(3,490
)
(7.7
)
Other
21,417
8.7
21,770
8.2
(353
)
(1.6
)
Total operating revenue
246,928
100.0
265,879
100.0
(18,951
)
(7.1
)
Operating expenses:
Purchased transportation
121,524
49.2
136,151
51.2
(14,627
)
(10.7
)
Salaries, wages and employee benefits
49,500
20.0
56,587
21.3
(7,087
)
(12.5
)
Operating leases
15,768
6.4
18,130
6.8
(2,362
)
(13.0
)
Depreciation and amortization
9,825
4.0
10,395
3.9
(570
)
(5.5
)
Insurance and claims
9,330
3.8
10,423
3.9
(1,093
)
(10.5
)
Fuel expense
1,841
0.7
2,605
1.0
(764
)
(29.3
)
Other operating expenses
23,934
9.7
24,350
9.2
(416
)
(1.7
)
Total operating expenses
231,722
93.8
258,641
97.3
(26,919
)
(10.4
)
Income from operations
$
15,206
6.2
%
$
7,238
2.7
%
$
7,968
110.1
%
1 Network revenue is comprised of all revenue, including linehaul, pickup and/or delivery, and fuel surcharge revenue, excluding accessorial and Truckload revenue.
Expedited Freight Operating Statistics
Three Months Ended
December 31, 2025
December 31, 2024
Percent Change
Business days
64
64
—
%
Tonnage 1,2
Total pounds
598,724
670,168
(10.7
)
Pounds per day
9,355
10,471
(10.7
)
Shipments 1,2
Total shipments
708
783
(9.6
)
Shipments per day
11.1
12.2
(9.0
)
Weight per shipment
846
856
(1.2
)
Revenue per hundredweight 3
$
30.70
$
29.70
3.4
Revenue per hundredweight, ex fuel 3
$
24.30
$
23.74
2.4
Revenue per shipment 3
$
259.77
$
254.30
2.2
Revenue per shipment, ex fuel 3
$
205.63
$
203.26
1.2
1 In thousands.
2 Excludes accessorial and Truckload products.
3 Includes intercompany revenue between the Network and Truckload revenue streams.
Omni Logistics Segment Information
(In thousands)
(Unaudited)
Three Months Ended
December 31,
2025
Percent of Revenue
December 31,
2024
Percent of Revenue
Change
Percent Change
Operating revenue
$
359,794
100.0
%
325,609
100.0
%
34,185
10.5
%
Operating expenses:
Purchased transportation
207,699
57.7
183,084
56.2
24,615
13.4
Salaries, wages and employee benefits
55,398
15.4
54,056
16.6
1,342
2.5
Operating leases
31,818
8.8
23,036
7.1
8,782
38.1
Depreciation and amortization
26,058
7.2
22,605
6.9
3,453
15.3
Insurance and claims
1,117
0.3
3,911
1.2
(2,794
)
(71.4
)
Fuel expense
903
0.3
863
0.3
40
4.6
Other operating expenses
26,949
7.5
28,602
8.8
(1,653
)
(5.8
)
Impairment of goodwill
—
—
(79,068
)
(24.3
)
79,068
100.0
Total operating expenses
349,942
97.3
237,089
72.8
112,853
47.6
Income from operations
9,852
2.7
%
88,520
27.2
%
(78,668
)
(88.9
)%
Intermodal Segment Information
(In thousands)
(Unaudited)
Three Months Ended
December 31,
2025
Percent of Revenue
December 31,
2024
Percent of Revenue
Change
Percent Change
Operating revenue
$
50,563
100.0
%
$
59,829
100.0
%
$
(9,266
)
(15.5
)%
Operating expenses:
Purchased transportation
17,351
34.3
18,901
31.6
(1,550
)
(8.2
)
Salaries, wages and employee benefits
12,126
24.0
14,227
23.8
(2,101
)
(14.8
)
Operating leases
4,910
9.7
6,463
10.8
(1,553
)
(24.0
)
Depreciation and amortization
4,325
8.6
4,519
7.6
(194
)
(4.3
)
Insurance and claims
2,829
5.6
2,498
4.2
331
13.3
Fuel expense
1,422
2.8
2,032
3.4
(610
)
(30.0
)
Other operating expenses
4,735
9.4
5,258
8.8
(523
)
(9.9
)
Total operating expenses
47,698
94.3
53,898
90.1
(6,200
)
(11.5
)
Income from operations
$
2,865
5.7
%
$
5,931
9.9
%
$
(3,066
)
(51.7
)%
Intermodal Operating Statistics
Three Months Ended
December 31, 2025
December 31, 2024
Percent Change
Drayage shipments
57,953
63,920
(9.3
)%
Drayage revenue per shipment
$
790
$
847
(6.7
)%
Forward Air Corporation
Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)
December 31,
2025
December 31,
2024
Assets
Current assets:
Cash and cash equivalents
$
105,996
$
104,903
Restricted cash and restricted cash equivalents
—
363
Accounts receivable, net
343,559
322,291
Other receivables
6,147
205
Prepaid expenses
28,045
29,053
Other current assets
37,254
15,685
Total current assets
521,001
472,500
Property and equipment, net of accumulated depreciation and amortization of $340,021 in 2025 and $292,855 in 2024
297,882
326,188
Operating lease right-of-use assets
412,535
410,084
Goodwill
522,712
522,712
Other acquired intangibles, net of accumulated amortization of $301,453 in 2025 and $212,905 in 2024
906,791
999,216
Other long term assets
58,023
71,941
Total assets
$
2,718,944
$
2,802,641
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable
$
121,752
$
105,692
Accrued expenses
114,422
119,836
Other current liabilities
69,130
45,148
Current portion finance lease obligations
15,995
16,930
Current portion of operating lease liabilities
107,026
96,440
Total current liabilities
428,325
384,046
Finance lease obligations, less current portion
22,387
30,858
Long-term debt
1,687,248
1,675,930
Liabilities under tax receivable agreement
11,548
13,295
Operating lease liabilities, less current portion
327,011
325,640
Other long-term liabilities
53,540
48,835
Deferred income taxes
27,221
38,169
Shareholders' equity:
Preferred stock
—
—
Common stock
313
298
Additional paid-in capital
559,551
542,392
Accumulated deficit
(447,100
)
(338,230
)
Accumulated other comprehensive income (loss)
580
(2,732
)
Total Forward Air shareholders' equity
113,344
201,728
Noncontrolling interest
48,320
84,140
Total shareholders' equity
161,664
285,868
Total liabilities and shareholders' equity
$
2,718,944
$
2,802,641
Forward Air Corporation
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Three Months Ended
December 31,
2025
December 31,
2024
Operating activities:
Net loss from continuing operations
$
(36,413
)
$
(35,378
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
40,724
37,657
Impairment of goodwill
—
(79,068
)
Share-based compensation expense
2,380
2,100
Provision for revenue adjustments
930
874
Deferred income tax (benefit) expense
(10,425
)
63,646
Impairment of abandoned software project costs
19,765
—
Other
493
10,621
Changes in operating assets and liabilities, net of effects from the purchase of acquired businesses:
Accounts receivable
(2,114
)
43,596
Other receivables
(7,092
)
3,518
Other current and noncurrent assets
(28,804
)
3,130
Accounts payable and accrued expenses
(2,172
)
(73,941
)
Net cash used in operating activities of continuing operations
(22,728
)
(23,245
)
Investing activities:
Proceeds from sale of property and equipment
415
2,644
Purchases of property and equipment
(8,351
)
(7,250
)
Purchases of a business, net of cash acquired
—
(10,977
)
Other
(125
)
Net cash used in investing activities of continuing operations
(7,936
)
(15,708
)
Financing activities:
Repayments of finance lease obligations
(4,319
)
(3,086
)
Proceeds from credit facility
25,000
75,000
Payments on credit facility
(25,000
)
(75,000
)
Payment of debt issuance costs
—
8,120
Proceeds from common stock issued under employee stock purchase plan
412
398
Payment of minimum tax withholdings on share-based awards
(21
)
130
Net cash (used in) provided by financing activities of continuing operations
(3,928
)
5,562
Effect of exchange rate changes on cash
234
875
Net decrease in cash and cash equivalents and restricted cash and restricted cash equivalents from continuing operations
(34,358
)
(32,516
)
Cash from discontinued operation:
Net cash used in operating activities of discontinued operations
—
(374
)
Net decrease in cash and cash equivalents, and restricted cash and restricted cash equivalents
(34,358
)
(32,890
)
Cash and cash equivalents, and restricted cash and restricted cash equivalents at beginning of period
140,354
138,156
Net decrease in cash and cash equivalents, and restricted cash and restricted cash equivalents
(34,358
)
(32,890
)
Cash and cash equivalents, and restricted cash and restricted cash equivalents at end of period
$
105,996
$
105,266
Forward Air Corporation
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Twelve Months Ended
December 31,
2025
December 31,
2024
Operating activities:
Net loss from continuing operations
$
(141,725
)
$
(1,124,841
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
152,638
143,978
Impairment of goodwill
—
1,028,397
Share-based compensation expense
13,429
10,188
Provision for revenue adjustments
3,249
3,635
Deferred income tax benefit
(10,948
)
(133,510
)
Impairment of abandoned software project costs
19,765
—
Other
11,504
14,917
Changes in operating assets and liabilities, net of effects from the purchase of acquired businesses:
Accounts receivable
(18,005
)
9,546
Other receivables
(7,365
)
9,677
Other current and noncurrent assets
(24,422
)
(15,085
)
Accounts payable and accrued expenses
46,264
(15,917
)
Net cash provided by (used in) operating activities of continuing operations
44,384
(69,015
)
Investing activities:
Proceeds from sale of property and equipment
2,204
5,137
Purchases of property and equipment
(29,116
)
(37,060
)
Purchase of a business, net of cash acquired
—
(1,576,219
)
Other
—
(444
)
Net cash used in investing activities of continuing operations
(26,912
)
(1,608,586
)
Financing activities:
Repayments of finance lease obligations
(17,305
)
(18,425
)
Proceeds from credit facility
110,000
75,000
Payments on credit facility
(110,000
)
(155,000
)
Payment of debt issuance costs
—
(52,471
)
Payment of earn-out liability
—
(12,247
)
Proceeds from common stock issued under employee stock purchase plan
846
753
Payment of minimum tax withholdings on share-based awards
(1,074
)
(1,442
)
Net cash used in financing activities of continuing operations
(17,533
)
(163,832
)
Effect of exchange rate changes on cash
791
1,013
Net increase (decrease) in cash and cash equivalents and restricted cash and restricted cash equivalents from continuing operations
730
(1,840,420
)
Cash from discontinued operation:
Net cash used in operating activities of discontinued operations
—
(6,387
)
Net increase (decrease) in cash and cash equivalents, and restricted cash and restricted cash equivalents
730
(1,846,807
)
Cash and cash equivalents, and restricted cash and restricted cash equivalents at beginning of period
105,266
1,952,073
Net increase (decrease) in cash, cash equivalents, and restricted cash equivalents
730
(1,846,807
)
Cash and cash equivalents, and restricted cash and restricted cash equivalents at end of period
$
105,996
$
105,266
Forward Air Corporation Reconciliation of Non-GAAP Financial Measures
In this press release, the Company includes financial measures that are derived on the basis of methodologies other than in accordance with accounting principles generally accepted in the United States (GAAP). The Company believes that meaningful analysis of its financial performance requires an understanding of the factors underlying that performance, including an understanding of items that are non-operational. Management uses these non-GAAP financial measures in making financial, operating, compensation and planning decisions as well as evaluating the Company’s performance.
For the three and twelve months ended December 31, 2025 and 2024, this press release contains the following non-GAAP financial measures: earnings before interest, taxes, depreciation and amortization (“Reported EBITDA”), Consolidated EBITDA and free cash flow.
All non-GAAP financial measures are presented on a continuing operations basis.
The Company believes that Reported EBITDA improves comparability from period to period by removing the impact of its capital structure (interest and financing expenses), asset base (depreciation and amortization) and tax impacts. The Company believes that free cash flow is an important measure of its ability to repay maturing debt or fund other uses of capital that it believes will enhance shareholder value.
The Company is also providing Consolidated EBITDA calculated in accordance with our credit agreement as we believe it provides investors with important information regarding our financial condition and compliance with our obligations under our credit agreement.
Non-GAAP financial measures should be viewed in addition to, and not as an alternative to or substitute for, the Company’s financial results prepared in accordance with GAAP. The Company has included, for the periods indicated, a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure. Investors and other readers are encouraged to review the related U.S. GAAP financial measures and the reconciliations of the non-GAAP measures to their most directly comparable U.S. GAAP measures set forth below.
The following is a reconciliation of net income to Consolidated EBITDA for the three and twelve months ended December 31, 2025 and 2024 (in thousands):
Three Months Ended
Twelve Months Ended
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024
Loss from continuing operations
$
(36,413
)
$
(35,378
)
$
(141,725
)
$
(1,124,841
)
Interest expense
45,099
48,427
180,747
189,215
Income tax (benefit) expense
(8,697
)
66,999
(5,472
)
(124,991
)
Depreciation and amortization
40,724
37,657
152,638
143,978
Reported EBITDA
40,713
117,705
186,188
(916,639
)
Impairment of Goodwill
—
(79,068
)
—
1,028,397
Transaction and integration costs
5,746
10,074
31,473
81,467
Severance costs
570
1,923
5,743
16,337
Change in the TRA Liability
(2,583
)
—
(1,747
)
—
Optimization project costs
—
9,873
2,732
9,873
Abandoned software project costs
19,765
—
19,765
—
Proforma synergies
—
1,353
—
22,239
Proforma savings
1,350
8,051
14,117
35,625
Other
11,067
2,352
48,858
33,415
Consolidated EBITDA
$
76,628
$
72,263
$
307,129
$
310,714
The following is a reconciliation of net cash (used in) provided by operating activities to free cash flow for the three and twelve months ended December 31, 2025 and 2024 (in thousands):
Three Months Ended
Twelve Months Ended
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024
Net cash (used in) provided by operating activities
$
(22,728
)
$
(23,245
)
$
44,384
$
(69,015
)
Proceeds from sale of property and equipment
415
2,644
2,204
5,137
Purchases of property and equipment
(8,351
)
(7,250
)
(29,116
)
(37,060
)
Free cash flow
$
(30,664
)
$
(27,851
)
$
17,472
$
(100,938
)
Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Forward-looking statements included in this press release relate to management's expectations regarding the Company’s long-term growth; the Company's ability to achieve synergy capture and eliminate costs; the results of operations of the Expedited Freight, Omni Logistics, and Intermodal segments; the Company’s financial performance, including Consolidated EBITDA, and the impact it may have on the business and results of operations; the key drivers of sustainable growth and long-term profitability; and the Company's revenue growth strategies, including with respect to operational efficiency and cost control.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. The following is a list of factors, among others, that could cause actual results to differ materially from those contemplated by the forward-looking statements: economic factors such as tariffs, recessions, inflation, higher interest rates and downturns in customer business cycles, our ability to achieve ongoing strategic, financial and other benefits as we continue to transform our business after the acquisition of Omni Logistics, including the realization of expected synergies and the achievement of deleveraging targets within the expected timeframes or at all, continued weakening of the freight environment, our future debt and financing levels, our ability to deleverage, including, without limitation, through capital allocation or divestitures of non-core businesses, our ability to secure terminal facilities in desirable locations at reasonable rates, more limited liquidity than expected which limits our ability to make key investments, the creditworthiness of our customers and their ability to pay for services rendered, our inability to maintain our historical growth rate because of a decreased volume of freight or decreased average revenue per pound of freight moving through our network, the availability and compensation of qualified Leased Capacity Providers and freight handlers as well as contracted, third-party carriers needed to serve our customers’ transportation needs, our inability to manage our information systems and inability of our information systems to handle an increased volume of freight moving through our network, the occurrence of cybersecurity risks and events, market acceptance of our service offerings, claims for property damage, personal injuries or workers’ compensation, enforcement of and changes in governmental regulations, environmental, tax, insurance and accounting matters, the handling of hazardous materials, changes in fuel prices, loss of a major customer, increasing competition, and pricing pressure, our dependence on our senior management team and the potential effects of changes in employee status, seasonal trends, the occurrence of certain weather events, restrictions in our charter and bylaws and the risks described in our Annual Report on Form 10-K for the year ended December 31, 2024, and as may be identified in our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
We caution readers that any forward-looking statement made by us in this press release is based only on information currently available to us and they should not place undue reliance on any forward-looking statement, which reflects management's opinion as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise unless required by law.