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.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »
Source: AP - 🏆 728. / 51 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
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.
Source: NEWSMAX - 🏆 16. / 71 Read more »