2023 Ford F-150 Raptor R
DETROIT – Ford Motor is about to report its third-quarter earnings after the bell on Wednesday.
Here is what Wall Avenue is anticipating, in response to Refinitiv consensus estimates:
- Adjusted earnings per share: 27 cents
- Automotive income: $36.25 billion
Ford final month set investor expectations for the third quarter by partially pre-releasing its results, together with projected adjusted earnings earlier than curiosity and taxes within the vary of $1.4 billion to $1.7 billion. Some analysts had been anticipating a quarterly revenue nearer to $3 billion.
Ford attributed the lower-than-expected outcomes to elements shortages affecting 40,000 to 50,000 autos in addition to an additional $1 billion in unexpected supplier costs in the course of the third quarter. Nonetheless, the corporate reaffirmed its full-year steering, saying it anticipated to deliver the unfinished vehicles to dealers within the fourth quarter.
The auto trade’s earnings and forecasts are being carefully watched by traders for any indicators that shopper demand may very well be weakening amid rising rates of interest and looming recession fears.
Ford’s earnings come a day after crosstown rival General Motors considerably outperformed Wall Avenue’s earnings expectations however barely missed on income. GM stated that demand for its merchandise stays strong despite outside economic concerns and rising rates of interest.
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