{"id":119758,"date":"2024-10-29T18:01:53","date_gmt":"2024-10-29T11:01:53","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=119758"},"modified":"2024-10-29T18:01:53","modified_gmt":"2024-10-29T11:01:53","slug":"ford-stock-falls-despite-q3-sales-beat-as-it-guides-to-lower-end-of-2024-profit-forecast","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=119758","title":{"rendered":"Ford stock falls despite Q3 sales beat, as it guides to lower end of 2024 profit forecast"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Ford (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/F\/\" data-ylk=\"slk:F;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">F<\/a>) reported third quarter earnings after the bell on Monday, beating on revenue but guiding to the lower end of its full-year forecast.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->The automaker&#8217;s results follow rival GM\u2019s blowout Q3 report and third profit guidance boost for the year.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Ford reported revenue of $46.2 billion compared with the $41.9 billion estimated per Bloomberg data. That was lower than the $47.8 billion reported last quarter, but 5% higher than the $43.8 billion a year ago.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->It posted adjusted EPS of $0.49, matching estimates, on adjusted EBIT (earnings before interest and taxes) of $2.6 billion. Net income came in at $900 million, affected by a $1 billion one-time EV-related charge that had been previously disclosed.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Ford brought down its full-year profit forecast, with the automaker now seeing 2024 adjusted EBIT &#8220;to be about $10 billion,&#8221; the lower end of its previous $10 billion to $12 billion.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Shares were down over 6% in premarket trading on Tuesday.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->In a media call with reporters, Ford Vice Chair and CFO John Lawler cited &#8220;supplier disruptions&#8221; as the reason for lower sales in Ford Pro and Ford Blue. Lawler elaborated that some of the disruptions were due to the hurricane impact in the southern US.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->\u201cWe have made strategic decisions and taken the tough actions to create advantages for Ford versus the competition in key areas like Ford Pro, international operations, software and next-generation electric vehicles&#8221; Ford President and CEO Jim Farley said in a statement. &#8220;Importantly, over time, we have significant financial upside as we bend the curve on cost and quality, a key focus of our team.\u201d<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->As part of its Ford+ plan, Ford divided its business into three units: Ford Blue for the traditional gas-powered business, Ford Model e for the EV division, and Ford Pro for its commercial and super duty truck business. Analysts are expecting the following for Q3:<!-- HTML_TAG_END --><\/p>\n<ul class=\"yf-1woyvo2\">\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START --><strong>Ford Blue: <\/strong>$26.2 billion in revenue, $1.627 billion in EBIT<!-- HTML_TAG_END --><\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START --><strong>Model e: <\/strong>$1.2 billion in revenue, -$1.224 billion in EBIT<!-- HTML_TAG_END --><\/p>\n<\/li>\n<li class=\"yf-1woyvo2\">\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START --><strong>Ford Pro: <\/strong>$15.7 billion in revenue, $1.814 billion in EBIT<!-- HTML_TAG_END --><\/p>\n<\/li>\n<\/ul>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Ford said it expected full-year Model e losses to be about $5 billion, slightly lower than the $5.5 billion previously projected.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Ford\u2019s Q3 US deliveries, reported earlier this month, jumped 4.3% year over year to 504,039 vehicles, though they are still down compared to the 536,050 delivered last quarter. Ford said EV sales jumped 12% year over year, powered by the Ford Lightning pickup and Ford E-transit van. Ford hybrid vehicles, led by the Maverick pickup, surged 38% year over year.<!-- HTML_TAG_END --><\/p>\n<p><button class=\"secondary-btn fin-size-large readmore-button rounded   yf-15mk0m\" data-ylk=\"elm:readmore;itc:1;sec:content-canvas;slk:Story%20Continues\" aria-label=\"Story Continues\" title=\"Story Continues\"> <span>Story Continues<\/span> <\/button> <\/p>\n<div class=\"read-more-wrapper\" style=\"display: none\">\n<figure class=\"yf-8xybrv\">\n<div class=\"image-container yf-24rror loader\" style=\"--max-height: 664px;\">\n<div class=\"image-wrapper yf-24rror\" style=\"--aspect-ratio: 960 \/ 664; --img-max-width: 960px;\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" alt=\"FILE - A line of unsold 2024 Mustang Mach-E electric utility vehicles sit at a Ford dealership May 19, 2024, in Denver. (AP Photo\/David Zalubowski, File)\" loading=\"lazy\" height=\"664\" width=\"960\" class=\"yf-24rror loader\"\/><\/div>\n<\/div><figcaption class=\"yf-8xybrv\"><!-- HTML_TAG_START -->A line of unsold 2024 Mustang Mach-E electric utility vehicles sit at a Ford dealership May 19, 2024, in Denver. (AP Photo\/David Zalubowski, File)<!-- HTML_TAG_END -->  <span class=\"caption-separator yf-8xybrv\" data-svelte-h=\"svelte-nxhdlu\">\u00b7<\/span> <span>ASSOCIATED PRESS<\/span><\/figcaption><\/figure>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->GM, on the other hand, has raised its guidance each quarter this year, and <a data-i13n=\"cpos:2;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/gm-beats-on-q3-earnings-raises-profit-forecast-for-third-time-this-year-141848417.html\" data-ylk=\"slk:now sees adjusted EBIT of $14 billion to $15 billion;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">now sees adjusted EBIT of $14 billion to $15 billion<\/a> ($13 billion-$15 billion previously), among other metrics.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->GM also announced $16 billion in buybacks and share repurchases over the past year, whereas Ford has not thus far.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Conversely, GM projects it will achieve EV profitability on a positive variable profit margin basis by the end of this year, whereas Ford said it only sees real profitability <a data-i13n=\"cpos:3;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/ford-vice-chair-john-lawler-on-evs-2024-profits-and-why-the-automaker-never-abandoned-hybrids-144834538.html\" data-ylk=\"slk:with the coming of its second-gen EVs;cpos:3;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">with the coming of its second-gen EVs<\/a>. Ford will give a full update on its EV business outlook and profitability <a data-i13n=\"cpos:4;pos:1\" href=\"https:\/\/media.ford.com\/content\/fordmedia\/fna\/us\/en\/news\/2024\/08\/21\/ford-broadens-electrification-strategy-to-reach-more-customers--.html\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:in the first half of next year;cpos:4;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">in the first half of next year<\/a>.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START --><em>Pras Subramanian is a reporter for Yahoo Finance. You can follow him on<\/em><a data-i13n=\"cpos:5;pos:1\" href=\"https:\/\/twitter.com\/Pras_S\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:X;cpos:5;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><em> X<\/em><\/a><em> and on<\/em><a data-i13n=\"cpos:6;pos:1\" href=\"https:\/\/www.instagram.com\/pras_s\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Instagram;cpos:6;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><em> Instagram<\/em><\/a><em>.<\/em><!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START --><a data-i13n=\"cpos:7;pos:1\" href=\"https:\/\/finance.yahoo.com\/topic\/earnings\" data-ylk=\"slk:For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here;cpos:7;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here<\/strong><\/a><!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START --><a data-i13n=\"cpos:8;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/\" data-ylk=\"slk:Read the latest financial and business news from Yahoo Finance;cpos:8;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>Read the latest financial and business news from Yahoo Finance<\/strong><\/a><!-- HTML_TAG_END --><\/p>\n<\/div><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async src=\"\/\/www.instagram.com\/embed.js\"><\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/ford-stock-falls-despite-q3-sales-beat-as-it-guides-to-lower-end-of-2024-profit-forecast-202614405.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ford (F) reported third quarter earnings after the bell on Monday, beating on revenue but guiding to the lower end of its full-year forecast. The automaker&#8217;s results follow rival GM\u2019s &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=119758\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-119758","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=119758"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119758\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=119758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=119758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=119758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}