Categories AlphaGraphs, Earnings, LATEST

Ford Motor (F) Q3 earnings beat; stock falls on weak guidance

Ford Motor Company (NYSE: F) reported an increase in third-quarter earnings, despite a decline in revenues. Earnings came in above Wall Street’s prediction. The stock slipped during Wednesday’s after-hours session as the company trimmed its full-year guidance.

Ford Motor (F) Q3 earnings beat; stock falls on weak guidance

Earnings Beat

Third-quarter profit, on an adjusted basis, rose to $0.34 per share from $0.29 per share last year and topped the Street view. Unadjusted net income was $425 million or $0.11 per share, down from last year’s profit of $991 million or $0.25 per share.

“Our Global Redesign is about making choices to transform our organization, to become the world’s most trusted company and a clear leader in an era of rapid change. We are getting stronger today and we have more work to do,” said CEO Jim Hackett.

Revenue declined by 2% year-over-year to $37 billion, reflecting the faltering demand and unfavorable exchange rates. The top-line, meanwhile, exceeded expectations.


The company said it continues to expect lower full-year structural costs in the Automotive business and anticipates full-year growth in adjusted free cash flow. Meanwhile, it lowered the full-year adjusted EBIT guidance to between $6.5 billion and $7.0 billion, to reflect the increase in warranty costs, higher than planned incentives in North America, and lower volumes in China.

Related: Ford Motor Q2 2019 Earnings Call Transcript

Full-year adjusted earnings are currently expected to be between $1.20 per share to $1.32 per share, down from the last year’s levels. The estimated adjusted effective tax rate is 12-13%.

Ford’s stock closed Wednesday’s session near the levels seen a year earlier. It is yet to recover from the losses that followed the dismal second-quarter performance. The stock dropped sharply Wednesday evening following the earnings report.

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Viewing Highlight