$Ford Motor(F.US)$ is trading higher Thursday after the company announced better-than-expected third-quarter financial results and raised guidance.
Ford reported quarterly adjusted earnings of 51 cents per share, which beat the estimate of 27 cents per share. The company reported quarterly revenue of $35.7 billion, which beat the estimate of $32.54 billion.
Ford raised its full-year 2021 adjusted EBIT guidance from a range of $9 billion to $10 billion to a range of $10.5 billion to $11.5 billion.
The company announced that it will resume its quarterly dividend at 10 cents per share.
This is the most exciting Ford lineup I've seen, but what matters is that customers love our new products and services – and we're just getting started. The trajectory of our business gives us huge confidence in Ford+, and we're obsessively turning the plan's promise into reality."
- said Jim Farley, president and CEO of Ford.
RBC Capital analyst Joseph Spak maintained Ford with an Outperform rating and raised the price target from $16 to $17.
F Price Action: Ford is making new 52-week highs Thursday.
The stock was up 12.06% at $17.38 at time of publication.
Comment(2)
I need help someone is not telling the truth. I went back and read Ford only has 30 days of vehicles and sales were off 33% because of supply issues. Either we are looking way back in time they are reporting 6 months in the rears. Do your DD. Love fast hate slow.
ooo damnnnn that's what's up there screwed looking for money I bet in order for them to get us the parts intime is when Ford cuts the price of cars and and cost of labor
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