Ford beats on earnings, raises the lower end of its forecast


    Ford earned an adjusted $0.43 a share, topping the Wall Street consensus of $0.33. The company raised the lower end of its 2017 earnings guidance.

Ford on Thursday reported third-quarter earnings that topped analysts’ expectations, and raised the lower end of its 2017 guidance.

The automaker reported adjusted earnings per share of $0.43, outpacing the Wall Street consensus of $0.33, according to Bloomberg.

Net income rose year-on-year to $1.60 billion from $1 billion.

The company said profits were “driven by North America and a record 3Q pre-tax profit in Asia Pacific,” according to the earnings release.

“With improved operating performance, and traction against cost initiatives, tightening adj. EPS guidance range to $1.75 to $1.85,” Ford said. The company previously saw a range of $1.65 to $1.85.

Ford’s F-Series had its best third-quarter sales performance since 2005, gaining 14% versus a year earlier. The average transaction per truck jumped $2,800 versus a year ago to $45,400.

Ford shares are up about 2% ahead of the opening bell. They have less than 1% this year.


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