Forward Industries Recovers After Q3 Revenue Decline and Earnings Miss
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Forward Industries Inc. (NASDAQ: FORD) shares initially fell but later recovered after reporting a 3.9% year-over-year decline in Q3 revenue, totaling $619 million, below the $640.35 million forecast. Earnings per share also missed expectations. Despite the revenue drop, adjusted EBITDA rose to $74 million, with an 11.9% margin. CEO Sean Stewart noted improved profitability in the Expedited Freight segment due to pricing adjustments and cost controls. As of the latest update, FORD shares were flat at $11.48.
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