Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Ford’s Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan.
Nick Antaya | Getty Images
Detroit – ford motor Earnings reported after the bell. Here are the results:
- Adjusted Earnings Per Share: 51 cents vs. 62 cents estimated
- Automotive Revenue: $41.8 billion vs. $40.37 billion estimated
In October, Ford confirmed Its prior full-year guidance of adjusted earnings before interest and taxes of between $11.5 billion and $12.5 billion. Through the first three quarters of the year, it brought in $7.9 billion led by its North American operations.
If Ford meets or exceeds Wall Street’s top and bottom-line expectations, EPS will more than double the 26 cents reported for the same period a year ago. Revenue will increase by 14.5% from the fourth quarter of 2021.
While investors will monitor fourth-quarter results for signs of slowing consumer demand or profit dilutionFord’s 2023 guidance is expected to pay more attention.
Wall Street expects Ford’s full-year 2023 adjusted earnings per share to mark a decline of about 16% from its 2022 outlook, according to Refinitiv estimates. This is despite forecasting full-year revenue to exceed $151 billion, up 3.4% year over year, indicating lower operating profit than in recent years.
Automakers posted record or near-record results during coronavirus pandemic Between the tight supply of new vehicles and the flexible consumer demand. But that scenario is slowly returning to normal, leaving new vehicles Prices and profits in flow.
on Monday, ford cut its electric cost mustang mach-ean early sign of growth EV Price War inspired by Tesla,
Earlier on Thursday, Ford reported January New Vehicle Sales Which showed a slight improvement compared to the same period last year.
The pressure is on for Ford to deliver a strong fourth quarter and relatively solid guidance. crosstown rival General Motors notably on tuesday outperformed Wall Street Expectations. The automaker also forecast stronger-than-expected results for 2023, including adjusted earnings before interest and taxes of $10.5 billion to $12.5 billion and adjusted earnings per share of between $6 and $7 .
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