Forward Industries Reports Negative GAAP EPS and $10.66M Revenue
May 13, 2023
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The company reported a GAAP earnings per share (EPS) of -$0.09 and total revenue of $10.66 million. This marks a decrease in both earnings and revenue compared to the same period last year. Forward Industries ($NASDAQ:FORD) is an American publicly traded company that specializes in the design, manufacture, and sales of carrying cases and accessories for consumer products. It has customers in the consumer, medical, industrial, and business-to-business markets, and sells its products throughout the world. Going forward, the company plans to focus on further developing its consumer segment and expanding its customer base in order to drive growth in its earnings and revenues.
Stock Price
As a result of the negative GAAP EPS, the company’s stock price has been volatile in recent weeks, and investors remain uncertain about the short-term outlook for FORWARD INDUSTRIES. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Forward Industries. More…
| Total Revenues | Net Income | Net Margin |
| 41.53 | -1.99 | -4.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Forward Industries. More…
| Operations | Investing | Financing |
| 0.25 | -0.15 | -0.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Forward Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 21.86 | 16 | 0.58 |
Key Ratios Snapshot
Some of the financial key ratios for Forward Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.3% | -4.4% | -4.5% |
| FCF Margin | ROE | ROA |
| 0.2% | -19.2% | -5.3% |
Analysis
GoodWhale conducted an analysis of FORWARD INDUSTRIES‘ wellbeing and the results can be seen below. We assigned FORWARD INDUSTRIES a Risk Rating of Medium, indicating that it is a medium risk investment in terms of financial and business aspects. We also detected one risk warning in the income sheet, so we encourage our customers to register on goodwhale.com to view the warning and get more details. With GoodWhale’s insights, investors can make more informed decisions and protect their investments. More…
Peers
The competition in the industrial products industry is fierce, with Forward Industries Inc facing off against prominent competitors Seiko Group Corp, Gunze Ltd, and Baotek Industrial Materials Ltd. All four companies are vying for market share, offering innovative products and services to gain an edge over their rivals. As the competitive landscape continues to shift and evolve, each of these companies is striving to stay ahead of the curve.
– Seiko Group Corp ($TSE:8050)
Seiko Group Corp is a leading global provider of watches, clocks, and jewelry. Founded in 1881, the company is renowned for its quality products and superior customer service. As of 2022, Seiko Group Corp has a market cap of 125.79B, indicating its considerable size and potential for growth. Additionally, the company has a Return on Equity (ROE) of 8.04%, indicating that it is making efficient use of its assets to generate profits. The company’s strong financial performance is a testament to its ability to deliver quality products while also achieving profitability.
– Gunze Ltd ($TSE:3002)
Gunze Ltd is an international textile and apparel conglomerate based in Japan. The company manufactures, markets and distributes a variety of apparel and products for men, women and children. As of 2022, the company has a market capitalization of 68.79 billion dollars, indicating its strong financial performance. Gunze Ltd also has a respectable return on equity (ROE) of 0.82%, which signifies that the company is able to generate returns from its investments. This strong performance is evidence of the strong financial position of the company and its ability to be profitable in the long run.
– Baotek Industrial Materials Ltd ($TPEX:5340)
Baotek Industrial Materials Ltd is a global leader in the production of industrial materials. With a market capitalization of $5.04 billion as of 2022, the company is well-positioned to capitalize on the growing global demand for its products. Additionally, its Return on Equity (ROE) of 3.75% indicates that Baotek is a strong and profitable company. With its impressive portfolio of products and services, Baotek is well-placed to continue to grow and expand its operations in the years to come.
Summary
Forward Industries is a company that provides products and services to other businesses. Its most recent earnings report revealed a GAAP EPS of -$0.09 and revenue of $10.66M. This is a significant decrease from prior quarters and indicates that the company is struggling to remain profitable. Investors should be cautious when considering investing in Forward Industries, as the current outlook is unfavorable. Over the past year, the stock has declined significantly and the outlook for the near future is uncertain. Investors should carefully analyze the company’s financials, management, and competitive landscape before investing.
Additionally, investors should keep a close eye on news regarding any potential mergers or acquisitions that could influence the value of the stock.
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