Ford Q3 Earnings Highlights: Revenue Beat, EPS Miss, EV Sales Rise, Guidance Withdrawn Due To UAW Strike
Portfolio Pulse from Chris Katje
Ford Motor Company (NYSE:F) reported Q3 revenue of $44 billion, up 11% YoY, beating the Street consensus estimate of $41.2 billion. However, the company missed the EPS estimate of 45 cents, reporting 39 cents instead. The company's Model e segment, which includes electric vehicles, reported a 44% YoY increase in wholesale unit sales. However, the company withdrew its guidance for full-year 2023 operating results due to the effects of the UAW strike. Ford shares were trading down 4% in after-hours trading.
October 26, 2023 | 8:28 pm
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Ford's Q3 results showed a revenue beat but an EPS miss. The company's electric vehicle sales are rising, but the withdrawal of its 2023 guidance due to the UAW strike could create uncertainty. Shares were down 4% in after-hours trading.
Ford's revenue beat and rising EV sales are positive signs. However, the EPS miss and the withdrawal of its 2023 guidance due to the UAW strike could negatively impact investor sentiment, as reflected in the 4% drop in after-hours trading.
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