Ford stock falls despite Q3 sales beat, as it guides to lower end of 2024 profit forecast

Published On Oct 28, 2024, 4:26 PM

Ford reported a Q3 revenue of $46.2 billion, exceeding estimates, but lowered its profit forecast for 2024 to the lower end of its previous guidance. Adjusted earnings per share matched estimates, but the company faced a significant $1 billion charge related to electric vehicle investments. While sales of electric and hybrid vehicles are rising, they are still facing challenges from supplier disruptions. Ford's stock decreased over 5% in after-hours trading following the announcement.

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Stock Forecasts

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Negative

Ford's decision to lower its profit forecast indicates short-term challenges in achieving growth, especially compared to competitors like GM, which has raised its guidance. The market's reaction to the lowered guidance suggests bearish sentiment around Ford stock in the near term, despite revenue growth. The structural shifts they are making in the business are long-term strategies but may not convince investors facing immediate concerns over profit margins and competition.

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