Ford guides to low end of 2024 earnings forecast as it slightly tops Wall Street's Q3 expectations
Ford Motor guided to the low end of its previously announced 2024 earnings forecast as it slightly topped Wall Street’s third-quarter expectations.
The Detroit automaker said Monday it now expects adjusted earnings before interest and taxes, or EBIT, of about $10 billion. It had previously guided to between $10 billion and $12 billion. It retained its forecast for adjusted free cash flow of between $7.5 billion and $8.5 billion.
Here’s how the company performed in the third quarter, compared with average estimates compiled by LSEG:
Earnings per share: 49 cents adj. vs. 47 cents adj. expected
Automotive revenue: $43.07 billion vs. $41.88 billion expected
The automaker was under pressure after a disappointing second quarter in which unexpected warranty costs caused the company to miss Wall Street’s earnings expectations.
The Detroit automaker said Monday it now expects adjusted earnings before interest and taxes, or EBIT, of about $10 billion. It had previously guided to between $10 billion and $12 billion. It retained its forecast for adjusted free cash flow of between $7.5 billion and $8.5 billion.
Here’s how the company performed in the third quarter, compared with average estimates compiled by LSEG:
Earnings per share: 49 cents adj. vs. 47 cents adj. expected
Automotive revenue: $43.07 billion vs. $41.88 billion expected
The automaker was under pressure after a disappointing second quarter in which unexpected warranty costs caused the company to miss Wall Street’s earnings expectations.
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