Reported 28 days ago
Ford's stock declined nearly 9% after the automaker reported Q3 earnings that exceeded revenue estimates but provided a lowered profit forecast for 2024, expecting adjusted EBIT to be around $10 billion. The company faced challenges including supply disruptions and a one-time billion dollar charge related to EVs, while rival GM continued to raise its profit guidance. Ford announced significant revenue contributions from its traditional and commercial vehicle lines, but still anticipates losses in its electric vehicle division.
Source: YAHOO