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

Published On Oct 29, 2024, 12:45 PM

Ford's stock has fallen significantly after the company reported third-quarter earnings that, while beating revenue estimates, came with a lowered profit forecast for 2024. The automaker reported revenues of $46.2 billion, which exceeded expectations but marked a decrease from the previous quarter. Ford's adjusted EBIT is now projected to be at the lower end of the previous guidance, predicting $10 billion for 2024. The decline in stock price was attributed to supply chain disruptions impacting sales, with the company's EV division continuing to incur losses.

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Stock Forecasts

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Negative

Despite beating revenue expectations, Ford's lowered profit guidance and ongoing challenges in its EV division suggest that investor sentiment could remain negative. The recent drop in stock price reflects concerns about the company's ability to reach profitability in its electric vehicle sector and manage supply chain issues effectively. Additionally, while Ford's overall deliveries increased, the drop from the last quarter raises further questions about growth sustainability.

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