News Formal

Ford earnings and sales fall — but not as much as feared

  • 📰 CNN
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Like most automakers, Ford's earnings took a hit from the supply chain problems and computer chip shortage. But its third-quarter results were much better than Wall Street expected. Ford also raised its outlook for future earnings and restored its dividend

The company posted adjusted earnings of $2 billion, down 22% from a year earlier and less than the adjusted earnings from Tesla, which despite its soaring stock value has only a fraction of the sales of any major automaker.Ford's automotive revenue of $33.2 billion fell 4% from a year ago ). But both the revenue and earnings were much better than analysts surveyed by Refinitiv had expected. They had been forecasting Ford would earn less than $1 billion on automotive revenue of $32.5 billion.

Supply chain problems have hit the auto industry hard for months, limiting production by causing temporary plant closings. Overall, US car sales were down about 13% in the quarter, according to Cox Automotive. Read MoreFord's results were similar to what was reported at rival General Motors earlier in the day — earnings and revenue fell from a year earlier but were better than forecast.Ford raised its full-year operating earnings guidance to between $10.5 billion to $11.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I wish I contacted earlier Vincent_R_Wate this year I'm sharing this to encourage every beginner and Bitcoin lover to get in touch with her he is very legit and God fearing person Vincent_R_Wate

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

Ford shatters Wall Street’s earnings expectations, raises guidance for the year on demand for new vehiclesFord shatters Wall Street’s earnings expectations, raises yearly guidance on new vehicle demand jimcramer oh ok 👍🏻 Nice! Do you think ford can pay back the bailout it took from the government in 09 now jimfarley98? Seems like the government could use some cash and Ford owes them…
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves after hours: Ford, eBay, Twilio and moreThese are the stocks posting the largest moves after hours.
Source: CNBC - 🏆 12. / 72 Read more »

What GM and Ford investors should know ahead of third-quarter earningsBoth General Motors and Ford Motor are expected to report solid third-quarter earnings Wednesday despite an ongoing global disruption of supply chains.
Source: CNBC - 🏆 12. / 72 Read more »

What GM and Ford investors should know ahead of third-quarter earningsBoth General Motors and Ford Motor are expected to report solid third-quarter earnings Wednesday despite an ongoing global disruption of supply chains.
Source: CNBC - 🏆 12. / 72 Read more »

Ford shatters Wall Street’s earnings expectations, raises guidance for the year on demand for new vehiclesFord shatters Wall Street’s earnings expectations, raises yearly guidance on new vehicle demand jimcramer oh ok 👍🏻 Nice! Do you think ford can pay back the bailout it took from the government in 09 now jimfarley98? Seems like the government could use some cash and Ford owes them…
Source: CNBC - 🏆 12. / 72 Read more »