The stock price of Ford Motor Co. (F) fell more than 5% after hours on Thursday, after the automaker's quarterly results fell short of expectations and canceled its performance guidance for this year, citing that the agreement with the United Auto Workers (UAW) had not yet been finally approved.
Ford Motor's third quarter profit was $1.2 billion, or 30 cents per share, compared to a loss of $827 million, or 21 cents per share, in the same period last year. After a one-time project adjustment, the earnings per share were 39 cents.
Revenue increased by 11% to $43.8 billion.
Analysts surveyed by FactSet expect on average that Ford Motor will report adjusted earnings per share of 46 cents and revenue of $43.94 billion.
The stock price of Ford Motor Co. (F) fell more than 5% after hours on Thursday, after the automaker's quarterly results fell short of expectations and canceled its performance guidance for this year, citing that the agreement with the United Auto Workers (UAW) had not yet been finally approved.
Ford Motor's third quarter profit was $1.2 billion, or 30 cents per share, compared to a loss of $827 million, or 21 cents per share, in the same period last year. After a one-time project adjustment, the earnings per share were 39 cents.
Revenue increased by 11% to $43.8 billion.
Analysts surveyed by FactSet expect on average that Ford Motor will report adjusted earnings per share of 46 cents and revenue of $43.94 billion.
At the time of Ford Motor's performance announcement, striking workers are returning to work. Previously, Ford Motor and UAW announced a preliminary agreement on Wednesday evening.
This agreement will enter the approval stage, while negotiations between UAW and General Motors Co. (GM) and Stellantis NV (STLA) are still ongoing.