Ford Motor Q3 Profit Misses Estimates

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The FINANCIAL — Ford Motor Company reported that its third quarter pre-tax from continuing operations increased to $2.86 billion from $1.02 billion, a year ago.

Net income attributable to Ford was $1.91 billion compared to $835 million, prior year. After-tax earnings per share was $0.48, for the quarter. After-tax earnings per share was $0.45, excluding special items, up 21 cents from a year ago, according to Ford.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.47 for the quarter. Analysts’ estimates typically exclude special items.

“The Ford team delivered an outstanding quarter – with record third quarter profit, best quarter ever for North America, higher wholesales, higher revenue, higher market share and improved margin. We are delivering a breakthrough year,” said Mark Fields, Ford President and CEO.

Revenue was $38.1 billion for the third quarter, an increase of $3.2 billion from last year. Analysts expected revenue of $35.07 billion, for the quarter.

Ford Motor reconfirmed its 2015 pre-tax profit guidance of $8.5 billion to $9.5 billion, excluding special items, with higher Automotive revenue, operating margin and operating-related cash flow compared with 2014.

 

 

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