Ford reports strong Q3 revenue growth but lowers full-year profit expectations due to challenges in its electric vehicle business and rising delinquencies.
Ford shares jumped before tumbling after hours on Monday, as the legacy automaker reported guidance that was on the low end of expectations. Like many other automakers, Ford continues to grapple with balancing the costs of EV production, high interest rates and a tapped out American consumer. Ford announced third-quarter revenue of $46 billion, with net income totaling $0.9 billion.
63 billion. Ford Pro EBIT Forecast unchanged at $9 billion, compared to the prior range of $9 billion to $10 billion. Ford Blue EBIT Now expected at $5 billion, down from the previous range of $6 billion to $6.5 billion. Ford Model e EBIT Loss Projected to be $5 billion, in line with earlier guidance of a $5 billion to $5.5 billion loss. Ford Credit EBT Anticipated to reach approximately $1.6 billion. Capital Expenditure Revised to $8 billion to $8.
Q3 Earnings Electric Vehicles EV Losses Ford Pro Revenue Growth Profit Outlook Stock Market Automotive Industry Delinquencies
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NI weather forecast for week ahead as mixed bag expectedHere is the full weather forecast for Northern Ireland this week
Read more »
Mixed Bag For Newcastle In League Cup WinNewcastle United advanced in the League Cup with a victory over Wimbledon, but the match wasn't without its challenges. Manager Eddie Howe saw positives and negatives as his team dominated possession but struggled to convert chances.
Read more »
Ollie Westbury analysis: A mixed bag of emotions as Shrewsbury earn a rewardShrewsbury Town showed a different side to their game at Bolton Wanderers on Saturday.
Read more »
Ryanair's new cabin bag rules as price of 'gate bag fee' changesRyanair charges more to upgrade to priority at a later date or at the airport
Read more »
Shop the £89 shoulder bag that's a luxe-looking alternative to £325 Coach bagIf you're on the hunt for a designer hobo bag to pair with your autumn outfits but don't fancy splurging, we've got just the ticket with this £89 alternative to Coach's £325 shoulder bag
Read more »
Chipmakers send tech shares yo-yoingMixed quarterly earnings mark a turning point in semiconductor stocks
Read more »