Ford Motor delivers cautious profitability guidance, Q3 results beat; shares slip
The automotive company reported earnings of $0.49 on revenue of $46.2 billion. Analysts polled by Investing.com anticipated EPS of $0.47 on revenue of $45.32 billion.
The bottom line was hit by ] a previously announced $1 billion electric vehicle-related writedown as part of a move scale down its EV plans and prioritize the development of hybrid models and electric commercial vehicles. Looking ahead, the company now expects adjusted earnings before interest and taxes, or EBIT, of $10B for 2024, which was at lower end of prior guidance for $10B to $12B.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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