On August 21, 2024, a Ford F-150 Lightning electric pickup truck was displayed at a Ford dealership in Glendale, California.
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Detroit- Ford Motor Company It will release third-quarter earnings after the market closes on Monday.
Wall Street expected the following, according to an average estimate compiled by London Stock Exchange Group (LSEG):
- Earnings per share: Adjusted 47 cents
- Car income: US$41.88 billion
Those results would mark a 1.7% increase in auto revenue from a year ago and a 19.9% increase in adjusted earnings per share.
Ford’s automotive revenue in the third quarter of 2023 was $41.18 billion, net income was $1.17 billion, or 30 cents per share, and adjusted EBIT was $2.2 billion, or 39 cents per share.
The Detroit automaker is hoping to rebound from a disappointing second quarter in which unexpected warranty costs caused it to miss Wall Street’s profit expectations.
Ford’s shares are down more than 7% this year.
The automaker faces pressure to follow local rivals General Motors It easily topped Wall Street’s third-quarter expectations and raised key 2024 guidance.
As of second-quarter results released in late July, Ford’s 2024 guidance included adjusted earnings before interest and taxes (EBIT) in the range of $10 billion to $12 billion and adjusted free cash flow in the range of $7.5 billion to $8.5 billion. between.
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