Ford's Third Quarter Earnings: Looking for a Bounce Back

Detroit-based Ford Motor is gearing up to share its third-quarter earnings on Monday. Analysts from LSEG have compiled some predictions for us to keep an eye on. They think Ford might report earnings per share of around 47 cents after making some adjustments. For the automotive revenue, the target is about $41. 88 billion. This would mean Ford's revenue grew by about 1. 7% compared to the same period last year. The adjusted earnings per share are expected to jump by nearly 20%. In the third quarter of 2023, Ford had $41. 18 billion in automotive revenue, a net income of $1. 17 billion (which translates to 30 cents per share), and adjusted earnings before interest and taxes of $2. 2 billion (around 39 cents per share). This time around, Ford is hoping to bounce back from a disappointing second quarter caused by unexpected warranty costs, which led them to miss earnings expectations set by Wall Street. Ford's stock has taken a dip this year, dropping by more than 7%. There's pressure on Ford to perform well because its rival, General Motors, recently surpassed Wall Street's expectations for the third quarter and raised key targets for 2024. Ford's previous guidance, set in late July, projected adjusted earnings before interest and taxes between $10 billion and $12 billion, and adjusted free cash flow between $7. 5 billion and $8. 5 billion. Stay tuned for updates as this story unfolds.