Forward Industries Inc. ( FORD ) shares initially traded lower before recovering earlier losses after the company reported a year-over-year decline in third-quarter financial results.

What To Know: Revenue for second-quarter 2025 came in at $619 million, down 3.9% from the prior year, missing the $640.35 million forecast. Earnings per share also came in below expectations, which contributed to initial selling pressure, accorsing to Investing.com.

The company's adjusted EBITDA was $74 million, representing an 11.9% margin, slightly higher than last year's 11.3% despite the revenue drop. CEO Sean Stewart highlighted that pricing adjustments and cost controls have strengthened profitability in the Expedited Freight segment, where EBITDA margins improved by 500 basis points year-over-year. "We were able to achieve these operating efficiencies and margins in a down market by optimizing pricing and tightly managing all discretionary expenses," Stewart said, adding that the network is positioned for growth when market conditions improve.

FORD Price Action: Forward Industries ( FORD ) shares were Flat At 0.39% at $11.48 at the time of writing, according to Benzinga Pro.

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