FORD Motor Company Has Booming Sales in Q3 2020—Much Bigger Than Expected

Ford Motor blew away Wall Street expectations as well as the company’s forecast earnings for the third quarter on stronger-than-expected demand during the coronavirus pandemic.

Here’s how Ford performed versus what Wall Street expected, based on average analysts’ estimates compiled by Refinitiv.

Adjusted EPS: 65 cents vs 19 cents expected

Automotive revenue: $34.71 billion vs $33.51 billion expected

Ford’s stock jumped more than 7% during after-hours trading before leveling off at about $8.05 a share, up 4.5%. The stock closed Wednesday at $7.70, down 2.8%.

In his first quarterly earnings call with analysts as CEO, Jim Farley promised Wall Street greater transparency — something his predecessor, Jim Hackett, was criticized for not doing. Farley succeeded Hackett effective Oct. 1. KEEP READING
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