Ford Earnings: What to Expect

Ford Motor Co. (NYSE: F) is scheduled to release its most recent quarterly results after the markets close on Wednesday. Thomson Reuters has consensus estimates calling for $0.26 in earnings per share (EPS) and $33.98 billion in revenue. The third quarter of last year reportedly had $0.29 in EPS and $34.66 billion in revenue.

Earlier this month, Ford reported that third-quarter truck sales jumped 8.8% to 309,920 units and year-to-date truck sales were up 6.9% at 854,220 units. That’s the highest third-quarter total in 14 years. F-Series pickup sales dropped 6% for the quarter and were down 2.4% for the year.

The all-new Ranger midsize pickup sold 26,211 units in the quarter, which brought total sales for the F-Series and Ranger to a quarterly total of 240,387 units sold (up 5.5% year over year) and a year-to-date total of 719,087, nearly 6% higher than year-to-date sales through the third quarter of 2018.

Sport utility vehicle sales tumbled 10.5% compared to the third quarter of last year, based on a drop of 13.2% in Ford-brand SUV sales and an increase of 19.2% in Lincoln-brand SUVs. For the year to date, Ford-brand SUV sales were down 6.5% while Lincoln-brand sales were up 11.9%.

Overall sales were down 4.9% year over year for the quarter and year-to-date sales were down 3.5% compared to the first nine months of 2018.

Overall, Ford has performed more or less in line with the broad markets in 2019, with the stock up about 18.6%. In the past 52 weeks, the stock is up closer to 7%.

A few analysts weighed in on Ford ahead of the results:

  • Buckingham Research has a Neutral rating and an $8 price target.
  • Morgan Stanley’s Buy rating comes with a $12 price target.
  • Credit Suisse has an Outperform rating with a $12 price target.
  • Merrill Lynch rates it at Buy rating with a $13 price target.
  • RBC has a Neutral rating with a $10.50 price target.

Shares of Ford traded at $9.06 on Wednesday, in a 52-week range of $7.41 to $10.56. The consensus price target is $10.45.