Wall Street anticipates Ford Motor's earnings report after the market closes.
- Ford Motor is set to report third-quarter results after markets close Monday.
- Wall Street analysts anticipate an adjusted earnings per share of 47 cents and revenue of $41.88 billion.
- Ford executives will host an earnings conference call at 5 p.m. ET.
DETROIT — is set to report its third-quarter earnings after the bell Monday.
According to average estimates compiled by LSEG, this is what Wall Street is anticipating.
- Earnings per share: 47 cents adjusted
- Automotive revenue: $41.88 billion
The automotive industry experienced a 1.7% increase in revenue and a 19.9% increase in adjusted earnings per share compared to the previous year.
In the third quarter of 2023, Ford generated $41.18 billion in automotive revenue, achieved a net income of $1.17 billion, or 30 cents per share, and reported adjusted earnings before interest and taxes of $2.2 billion, or 39 cents per share.
The company missed Wall Street's earnings expectations in the second quarter due to unexpected warranty costs, and now aims to recover.
Ford's stock is down by more than 7% this year.
The automaker is facing pressure to meet expectations after its crosstown rival exceeded Wall Street's third-quarter expectations and raised key 2024 guidance targets.
Ford's 2024 guidance for adjusted EBIT and free cash flow is between $10 billion and $12 billion and $7.5 billion to $8.5 billion, respectively, based on its second-quarter results in late July.
This is breaking news. Please check back for updates.
Business News
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