Reported 29 days ago
Ford's stock fell nearly 9% after reporting third-quarter earnings that exceeded revenue expectations, but the automaker also lowered its full-year profit forecast. The company posted $46.2 billion in revenue, up 5% year-over-year, and matched adjusted earnings per share estimates at $0.49. However, ongoing supplier disruptions, partly influenced by hurricanes, and a significant $1 billion charge related to electric vehicles negatively impacted net income. Ford now anticipates 2024 adjusted EBIT will be at the lower end of the $10 billion to $12 billion range.
Source: YAHOO