News Formal

Ford earnings fall short of estimates after it strikes a tentative deal with striking autoworkers

  • 📰 AP
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Ford has reported significant growth in the third quarter, although its financial results fell short of Wall Street estimates. The automaker's net income swung to a $1.2 billion profit from a year-earlier loss of $827 million, while revenue increased by 11%, coming in at $43.8 billion.

FILE - A Ford dealership in Springfield, Pa., Tuesday, April 26, 2022. Ford reports earnings on Thursday, Oct. 26, 2023 SAN FRANCISCO — Ford on Thursday reported significant growth in the third quarter, although its financial results fell short of Wall Street estimates.

The automaker’s net income swung to a $1.2 billion profit from a year-earlier loss of $827 million. Revenue increased by 11% compared to a year earlier, coming in at $43.8 billion. Ford’s latest quarterly profit, adjusted for one-time items, amounted to 39 cents a share. That was below the 46 cents a share expected by industry analysts, according to FactSet.with the United Auto Workers union. The four-year labor deal, which still has to be approved by 57,000 union members at the company, could bring a close to the union’sThe Ford deal could set the pattern for agreements with the other two automakers, where workers will remain on strike.

Shares in Ford Motor Co., which is based in Dearborn, Michigan, were down almost 4% in after-hours trading following earnings report.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 728. in BE
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stocks Gain After Major Companies Beat Wall Street ExpectationsCoca-Cola, General Electric and 3M boosted their outlooks, aiding S&P 500
La source: WSJ - 🏆 98. / 63 Lire la suite »

Business Highlights: UAW strike expands to GM plant in Texas; Big profits lift Wall StreetBusiness Highlights: A summary of the day’s top stories in the business world.
La source: AP - 🏆 728. / 51 Lire la suite »

Wall Street Bets Broadcom May Extend Stock Election Deadline for VMware Holders in MergerThe companies plan to close on the transaction on Oct. 30. Investors appear to be betting that closing will be delayed.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Wall Street Rises on Strong Earnings, Lower OilWall Street ended higher Tuesday after Verizon, General Electric and other big companies reported fatter profits for the summer than expected.
La source: NEWSMAX - 🏆 16. / 71 Lire la suite »