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