Ford Motor Co. is set to update investors on Thursday after the bell on its third-quarter profit and revenue amid growing concern about the ongoing autoworkers strike and its impact on Ford’s end of the year.
GM earlier this week detailed some of the impacts of the ongoing strike, particular through the end of the current quarter, and investors will want Ford to do the same. Crucially, they are waiting to see if Ford follows GM in withdrawing guidance for the year. “The focus of the release will likely be on the UAW strike and how Ford’s longer-term strategy could change as a result, such as potentially moderating its EV growth plans,” Nelson said.Earnings: Analysts surveyed by FactSet expect Ford to report third-quarter adjusted earnings of 46 cents a share. That would compare with adjusted earnings of 30 cents a share in the third quarter of 2022.
Stock movement: Ford shares have underperformed the broader equity market, and are losing about 3% so far this year, which contrasts with gains of around 10% for the S&P 500 index SPX. The underperformance is also acute in the past three months, with Ford shares down 17% to the index’s 8% drop in the period.