I recommended Ford stock before Q3 earnings due to strong EV sales in September and GM's positive results, but shares dropped 6% post-earnings. Ford beat top line and EPS estimates, showing that Ford actually did pretty well in the third-quarter. Ford reduced its adjusted EBIT guidance for FY 2024 to $10B, down from $10-12B amid pricing pressures in the EV market.
Major U.S. equities indexes were mixed on Tuesday. The technology and communication sectors outperformed ahead of a wave of marquee earnings reports, but other sectors including energy and utilities lost ground.
Ford (F) shares fell Tuesday, as analysts from JPMorgan and Bank of America cut their price targets after the automaker's underwhelming third-quarter results.
Shares of Ford Motor Co F tanked in early trading on Tuesday, after the company reported its third-quarter results.
Ford stock would look cheap -- if it just stopped losing money on EVs.
High inventory days and higher-than-expected warranty costs and other cost headwinds plague Ford.
Ford (F) disappointed investors on its earnings report. Cut guidance, ten-digit losses in its EV business and headwinds to the interest rate environment didn't raise confidence.
Ford is struggling to make money on battery-powered models while General Motors, which started more slowly, says it is getting close to that goal.
Ford says full-year earnings will come in at the low end of the forecast and shares fell this morning. The automaker is struggling to bring down high warranty costs.
Bank of America analysts have reiterated backing for Ford Motor Company (NYSE:F), despite an earnings miss in the third quarter. Ford had reported adjusted per-share earnings of $0.49 for the quarter on Monday, which Bank of America noted was below its forecast for $0.50.
Ford UK is facing a 24-hour walk-out by more than 1,000 administrative staff at plants in Dunton, Stratford, Dagenham, Daventry and Halewood tomorrow in a long-running pay dispute. Union Unite said office workers have been offered a one-off payment for this year instead of a permanent pay rise, with performance-related pay to be introduced next year.
Ford Motor Co (NYSE:F) stock is lower Tuesday, after the automobile manufacturer issued full-year guidance that was at the low end of its previous range, amid softening demand, rising inventory, and worries surrounding the viability of cost-cutting measures.