Ford Shares Plunge Almost 10% After Q3 Earnings Despite Beating Estimates
Portfolio Pulse from Benzinga Neuro
Ford's shares fell nearly 8% after Q3 earnings, despite beating revenue and EPS estimates. The EV segment, Model e, reported a significant EBIT loss, impacting overall performance. Ford anticipates a full-year EBIT loss of $5 billion for Model e, highlighting challenges in the competitive EV market.
October 29, 2024 | 1:33 pm
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Ford's shares fell 7.74% after Q3 earnings, despite beating revenue and EPS estimates. The EV segment, Model e, reported a $1.2 billion EBIT loss, with a full-year loss expected at $5 billion, highlighting challenges in the EV market.
Despite surpassing revenue and EPS estimates, Ford's significant EBIT loss in the Model e segment and the anticipated full-year loss of $5 billion have negatively impacted investor sentiment, leading to a 7.74% drop in share price.
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