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.

Outlook

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

CL Earnings: Key quarterly highlights from Colgate-Palmolive Company’s Q4 2022 financial results

Colgate-Palmolive Company (NYSE: CL) reported fourth quarter 2022 earnings results today. Net sales increased 5% year-over-year to $4.62 billion. Organic sales growth was 8.5%. Net income attributable to Colgate-Palmolive Company was

Key highlights from Chevron Corporation’s (CVX) Q4 2022 earnings results

Chevron Corporation (NYSE: CVX) reported fourth quarter 2022 earnings results today. Total revenues and other income were $56.4 billion compared to $48.1 billion in the year-ago period. Net income attributable

AXP Earnings: All you need to know about American Express’ Q4 2022 earnings results

American Express Company (NYSE: AXP) reported fourth quarter 2022 earnings results. Consolidated total revenues net of interest expense were $14.2 billion, up 17% from a year ago. Net income was

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top