Ford announced this Monday that annual profits will be at the lower end of the forecast range, pressured by costs and production problems caused by recent hurricanes in the US, in addition to weak demand for electric vehicles.
The US automaker said adjusted earnings before interest and taxes (EBIT) will reach around $10 billion in 2024, versus a previous forecast of up to around $12 billion, slightly below analyst forecasts. , which pointed to 10.6 billion.
The projections were advanced in the presentation of results after the market closed on Wall Street.
Investor reaction was negative, with shares sinking more than 6% in post-market trading. Since the beginning of the year, shares have fallen around 7%.
Third-quarter net profit fell around 25% year-on-year to around 900 million, penalized by a charge of close to 1 billion from divestment in the electric vehicle strategy.
Revenues rose 5% to 46.2 billion and adjusted earnings per share were 0.49 cents per share – in line with the estimates of analysts consulted by Bloomberg. Sales rose 0.7% in the USA in the third quarter, while in the market in general they fell 1.9%.
Source: www.jornaldenegocios.pt
