Ford Misses Wall Street Expectations for Q3 2023 amid Pending Deal
The recent work stoppage by the United Auto Workers (UAW) union impacted the company’s ability to meet its financial targets.
The recent work stoppage by the United Auto Workers (UAW) union impacted the company’s ability to meet its financial targets.
Ford lifted its guidance range for full-year 2023 consolidated adjusted EBIT to between $11 billion and $12 billion.
Earlier this month, Ford reported mixed earnings results for Q4 2022, performing below analysts’ expectations.
Ford reported total revenues of $44 billion, thus a net income of about $1.3 billion for Q4 2022.
According to the Ford Q3 2022 financial report, the company experienced a string of supply chain problems.
Like Ford, many companies have been cutting costs and lowering headcounts due to the ongoing market condition.
Ford outperformed numerous automobile manufacturers in July, including Toyota, Ferrari, and Stellantis.
The Q2 2022 report is a turnaround for Ford, which saw a net loss of $3.1 billion in Q1.
Ford credit segment will use Stripe’s technology to process digital payments in markets across North America and Europe.
Over the past year, Ford stock has gained approximately 146.02% and is now up approximately 20.46% since the beginning of 2022.