Ford's shares slide on lower year-end guidance despite earnings beat

delivered a big earnings beat for the third quarter but lowered investor expectations for the rest of the year as the automaker grapples with falling consumer demand, primarily in China.Adjusted earnings: 34 cents per share vs. 26 cents expected.The automaker said it expects to make less profit than previously expected for the year, lowering its 2019 earnings guidance to between $6.5 billion to $7 billion, or between $1.20 and $1.32 per share.

"From a key takeaway standpoint, we think Q3 was a good quarter," Ford CFO Tim Stone told reporters during an earnings briefing. "The progress we've made also indicates we have more work to do, more opportunity ahead but it's a good start for the year." The third-quarter was expected to be Ford's worst of the year as part of a weaker second half compared to 2018. The automaker strongly beat Wall Street expectations in the first three months of the year before

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UPS shares fall, despite earnings beat, as COO retirement throws wrench in succession plansUnited Parcel Service's strong earnings report Tuesday was overshadowed by news of the retirement of Chief Operating Officer Jim Barber, who was long viewed as the company's next CEO. None of my UPS drivers are happy anymore They are all very angry and feel abused Some of the hardest workers I know
Source: CNBC - 🏆 12. / 72 Read more »