2023 Ford F-150 Raptor R
Ford
DETROIT – Ford Motor is ready to report its third-quarter earnings after the bell on Wednesday.
Here’s what Wall Street is anticipating, in keeping with Refinitiv consensus estimates:
- Adjusted earnings per share: 27 cents
- Automotive income: $36.25 billion
Ford final month set investor expectations for the third quarter by partially pre-releasing its outcomes, together with projected adjusted earnings earlier than curiosity and taxes within the vary of $1.4 billion to $1.7 billion. Some analysts have been anticipating a quarterly revenue nearer to $3 billion.
Ford attributed the lower-than-expected outcomes to components shortages affecting 40,000 to 50,000 automobiles in addition to an additional $1 billion in sudden provider prices through the third quarter. Still, the corporate reaffirmed its full-year steering, saying it anticipated to ship the unfinished automobiles to sellers within the fourth quarter.
The auto trade’s earnings and forecasts are being intently watched by traders for any indicators that shopper demand could possibly be weakening amid rising rates of interest and looming recession fears.
Ford’s earnings come a day after crosstown rival General Motors considerably outperformed Wall Street’s earnings expectations however barely missed on income. GM stated that demand for its merchandise stays sturdy regardless of exterior financial issues and rising rates of interest.
This story is creating. Please examine again for updates.
Source: www.cnbc.com”