Ford Motor (F) tops Q3 EPS by 1c; will not reach its previously announced 8% EBIT margin or high teens ROIC targets by 2020
Ford Motor (NYSE: F) reported Q3 EPS of $0.29, $0.01 better than the analyst estimate of $0.28. Revenue for the quarter came in at $37.6 billion versus the consensus estimate of $33.3 billion.
“This quarter we achieved a North America EBIT margin of nearly 9% and the best quarterly result in Ford Credit in more than seven years, while teams across the company continue to aggressively improve the operational fitness of the business,” said Bob Shanks, executive vice president and CFO. “Our balance sheet remains robust, with more than $23 billion of cash and more than $34 billion of liquidity. The company remains on track to achieve full-year adjusted EPS of $1.30 to $1.50.”
The company balance sheet remains strong, with $23.7 billion of cash and $34.7 billion of total liquidity. Ford is also reaffirming adjusted EPS guidance for the full-year in the range of $1.30 to $1.50 and positive cash flow that will be lower than 2017. Ford also said that as a result of the higher costs and uncertainty impacting the entire sector, coupled with unexpected deterioration this year in the Europe and China business, current company forecasts show that it will not reach its previously announced 8 percent EBIT margin or high teens ROIC targets by 2020. However, the company continues to attack costs, increase the operational fitness of the business and remains committed to hitting these targets over time.
For earnings history and earnings-related data on Ford Motor (F) click here.