Ford guides to low end of 2024 earnings forecast as it slightly tops Wall Street's third-quarter expectations

1 month ago

A Ford F-150 Lightning electric pickup truck is displayed for sale at a Ford dealership on August 21, 2024 in Glendale, California.

Mario Tama | Getty Images

DETROIT — Ford Motor guided to the low end of its previously announced 2024 earnings forecast as it slightly topped Wall Street's third-quarter expectations.

The Detroit automaker said Monday it now expects adjusted earnings before interest and taxes, or EBIT, of about $10 billion. It had previously guided to between $10 billion and $12 billion. It retained its forecast for adjusted free cash flow of between $7.5 billion and $8.5 billion.

Here's how the company performed in the third quarter, compared with average estimates compiled by LSEG:

Earnings per share: 49 cents adj. vs. 47 cents adj. expectedAutomotive revenue: $43.07 billion vs. $41.88 billion expected

The automaker was under pressure after a disappointing second quarter in which unexpected warranty costs caused the company to miss Wall Street's earnings expectations.

This is breaking news. Please check back for updates.

Read Full Article at Source

Ford guides to low end of 2024 earnings forecast as it slightly tops Wall Street's third-quarter expectations

Related

Banks hit credit card users with higher rates in response to regulation that may never arrive

CDC says McDonald's E. coli outbreak is over

Constellation Brands to sell Svedka vodka to Sazerac as wine and spirits segment struggles

Dollar stores are struggling to win over bargain hunters — here’s why

Frontier Airlines will install first-class seats as industry battles for high-paying flyers

GM to sell stake in battery cell plant to joint venture partner for roughly $1 billion

Stellantis CEO Carlos Tavares resigns amid problems in U.S., falling sales

Stellantis CEO Carlos Tavares resigns amid problems in U.S., falling profits

As retailers enter the holiday shopping season, the winners are pulling away from the pack

Trump voters could fuel holiday spending, while Harris supporters may pull back

Trump voters could fuel holiday spending, while Harris voters may pull back

'Moana 2'-led Thanksgiving box office could be best in post-pandemic era

Nordstrom tops Wall Street’s earnings expectations, as shoppers buy more clothes and shoes

Walmart pulls back on DEI efforts, removes some LGBTQ merchandise from website

Automaker shares fall as Trump threatens 25% tariff on Mexico and Canada

Senate report slams airlines for raking in billions in seat fees

Constellation Brands' stock falls as Trump tariff plan threatens to make Modelo and Corona more expensive

Amgen says obesity drug caused up to 20% weight loss after a year, but shares drop 10%