{"id":77732,"date":"2023-10-28T05:38:06","date_gmt":"2023-10-28T09:38:06","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/ford-shares-fall-after-missing-q3-expectations-management-has-a-long-to-do-list-says-analysts\/"},"modified":"2023-10-28T05:38:09","modified_gmt":"2023-10-28T09:38:09","slug":"ford-shares-fall-after-missing-q3-expectations-management-has-a-long-to-do-list-says-analysts","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=77732","title":{"rendered":"Ford shares fall after missing Q3 expectations; Management has ‘a long to-do list’ says analysts"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

(Updated – October 27, 2023 5:56 AM EDT)<\/p>\n

Investing.com — Ford Motor Company (NYSE:) shares fell more than 3% in early Friday trading after the automaker missed expectations for profit in the third quarter.<\/p>\n

Ford reported third-quarter adjusted earnings of 39 cents a share and revenue of $43.8 billion. Analysts expected a profit of 46 cents a share and revenue of $43.94 billion.<\/p>\n

Ford, which reached a tentative agreement on a contract with United Auto Workers that could end a more than month-long strike, said adjusted earnings before interest and taxes, or EBIT, in the third quarter increased to $2.2 billion. Cash flow from operations was $4.6 billion in the quarter and $12.4 billion through the first nine months of the year. <\/p>\n

The automaker withdrew its full-year guidance pending the ratification of the tentative agreement with the UAW. Through the third quarter, Ford earned $9.4 billion in adjusted EBIT and it affirmed a full-year range of $11 billion to $12 billion in late July.<\/p>\n

UBS analysts cut the price target by $2 to $13 per share and say the management has “a long to-do list.”<\/p>\n

“We won\u2019t sugar coat it was a miss, higher warranty, higher labor costs, a rethink needed on EV strategy there was little to get enthused about from 3Q23 earnings,” they said.<\/p>\n

Still, analysts remain bullish on the stock.<\/p>\n

“While it may take some time, we see a positive risk\/reward on F at these levels.”<\/p>\n

Goldman Sachs analysts argue that the key investor debate is focused on the margin potential. They also slashed the price target, going to $12 per share.<\/p>\n

“Given the potential for these challenges to persist over the next 12-18 months, we maintain our Neutral rating on the stock,” analysts wrote in a note.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. (Updated – October 27, 2023 5:56 AM EDT) Investing.com — Ford Motor Company (NYSE:) shares fell more than 3% in early Friday trading after the automaker missed expectations for profit in the third quarter. Ford reported third-quarter adjusted earnings of 39 cents a share and revenue of $43.8 billion. Analysts expected a profit […]<\/p>\n","protected":false},"author":1,"featured_media":74762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-77732","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nFord shares fall after missing Q3 expectations; Management has 'a long to-do list' says analysts | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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